Marriott Posts Quarterly Gains, Sees Small business Travel Choosing Up in the Slide

Marriott Global Inc. posted gains for the June quarter, driven by leisure travel, as the corporation keeps an eye on the distribute of the Delta variant, executives stated.

“The amount of world lodging recovery accelerated through the 2nd quarter and momentum has continued into July,” Main Govt Anthony Capuano reported Tuesday. “Leisure demand from customers when again led the way, while small business transient and group need also continued to grow” in the U.S. and Canada, which collectively comprise the company’s most significant location.

The lodge chain, whose portfolio encompasses around 7,800 houses entire world-vast, sees demand from customers for business and group stays rising in the fall as it anticipates more workers returning to offices on a hybrid foundation, Mr. Capuano stated. “Many of our associates are starting up to get again on the road, and our most significant company consumers inform us they are beginning to do the identical,” he mentioned.

The Bethesda, Md., firm, has also noticed additional blending of leisure visits with organization vacation, a pattern it expects to continue, Mr. Capuano stated.

But Marriott has witnessed some cancellations for team bookings later on this 12 months that could be attributable to the distribute of the Delta variant, finance chief Kathleen Oberg mentioned. “I count on that far more uncertainty about convenience of journey afterwards this yr could be impacting the number of cancellations that we’re seeing,” Ms. Oberg mentioned in an interview. She additional that cancellations have slowed meaningfully from previously in the pandemic.

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