Marriott (MAR) earnings boosted by the lifting of Covid restrictions in China, raises FY profit guidance

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Go back to Marriott (MAR) earnings boosted by the lifting of Covid restrictions in China, raises FY profit guidance

Marriott beats Wall Street estimates on China recovery

May 2, 2023 7:05 AM EDT

(This May 2 story has been refiled to say Marriott gets a 'big portion,' not 'bulk' of its revenue from outside the US, in paragraph 6)

By Priyamvada C and Doyinsola Oladipo

(Reuters) - Marriott International Inc reported better-than-expected first-quarter results on Tuesday as the U.S. hotel operator benefited from a global rise in occupancy and room revenue led by domestic travel in China, sending its shares up by 3%.

U.S. hotel operators who have been grappling over the past year with an uneven recovery in Chinese... More

Marriott (MAR) Tops Q1 EPS by 24c, Raises Guidance

May 2, 2023 7:03 AM EDT

Marriott (NASDAQ: MAR) reported Q1 EPS of $2.09, $0.24 better than the analyst estimate of $1.85. Revenue for the quarter came in at $5.62 billion versus the consensus estimate of $5.45 billion.

GUIDANCE:

Marriott sees Q2 2023 EPS of $2.09-$2.15, versus the consensus of... More