Marriott International CEO Bill Marriott Jr. says the company's international lodging business continues to be strong but that softer demand trends are affecting the US market.
Marriott International CEO Bill Marriott Jr. says the company's international lodging business continues to be strong but that softer demand trends are affecting the US market. Speaking at appearances connected with the New York University International Hospitality Industry Investment Conference in New York, Marriott said that year-to-date through April, the company's international revenue per available room (RevPAR) increased nearly 10 percent on a constant-dollar basis. But in the US, Marriott continues to see weak weekend leisure demand and is beginning to see softer mid-week demand.
Given these trends, Marriott says, the company is likely to report second quarter North American RevPAR growth of approximately 2 percent, compared with prior company guidance of up to 5 percent. Given recent trends, Marriott says he would be surprised if North American RevPAR strengthened in the second half of the year.