A surge in Americans’ international travel as well as a rebound in China helped boost Marriott International’s global performance in the second quarter.
Marriott CFO Leeny Oberg cited “a big exodus of Americans going over to Europe and other places in the world,” which she said has helped bolster cross-border demand across other international markets.
CEO Anthony Capuano said leisure room nights booked by U.S. and Canadian travelers jumped 90% year over year in the Asia-Pacific region and more than 20% in Europe. He said American and Canadian travelers are “increasingly taking vacations overseas now that pandemic-related travel restrictions are behind us.”
Meanwhile in China, revenue per available room (RevPAR) was up nearly 125% primarily due to a surge in domestic travel demand.
“The reality is that the recovery in China has come faster than we expected,” said Oberg. She added that international airlift into China is only at 40% of pre-Covid levels. “So, there’s clearly more room to go.”
Marriott said RevPAR in the U.S. and Canada grew 6% in Q2, driven by an increase in group and business travel.
Worldwide, Marriott reported a RevPAR increase of 13.5%, to $132, while occupancy rose 4.7 percentage points, to nearly 72%. Average daily rate (ADR) grew 6%, to $184.
Marriott reported second-quarter revenue of roughly $6.08 billion, a 13.8% increase. The company posted net income of $726 million, up from $678 million in Q2 of last year.
