Capuano said that with continued momentum in demand for global travel, Marriott posted another quarter of “outstanding results.” Second quarter worldwide RevPAR (revenue per available room) increased 13.5%, aided by significant growth in all international regions, where RevPAR rose 39%. Greater China rebounded quickly once travel restrictions were lifted in January, with second quarter RevPAR surpassing pre-pandemic levels.
In the US and Canada, RevPAR increased 6%, said Capuano, with many urban markets showing “impressive growth” in the second quarter. Within customer segments, group once again performed extremely well, with revenue rising 10% above 2022. Business transient revenue also saw strong year-over-year growth, driven by solid average daily rate growth. Leisure transient revenue rose as well, albeit more slowly, as more travelers from the region chose to visit overseas destinations.
During the quarter, said Capuano, Marriott added approximately 33,100 rooms to its system, including 17,300 City Express rooms in the Caribbean and Latin America region, and its pipeline grew to nearly 547,000 rooms, with more than 240,000 global rooms under construction. In June, the company announced its planned entry into the affordable midscale extended stay space in the US and Canada.
Image: Shutterstock
