Marriott (MAR) expands its luxury portfolio with the opening of its 9000th property, The St. Regis Longboat Key in Florida.
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Marriott International, Inc MAR reported weaker-than-expected revenue for its second quarter on Wednesday.
Adjusted EPS was $2.50, slightly exceeding management's guidance. Worldwide Comparable RevPAR (Revenue per Available Room) increased by 4.9% in Q2, meeting the higher end of guidance.
Marriott International's (MAR) second-quarter results Wednesday came with disappointing revenue per available room (revPAR) guidance, sending the huge hotel company's shares sharply lower.
Marriott's (MAR) second-quarter 2024 results reflect continuous growth in global travel demand aiding the RevPAR growth. Yet, increased expenses marred prospects to some extent.
Marriott International, Inc. (NASDAQ:MAR ) Q2 2024 Earnings Call Transcript July 31, 2024 8:30 AM ET Company Participants Jackie McConagha - SVP, IR Tony Capuano - President and CEO Leeny Oberg - CFO and EVP, Development Conference Call Participants Stephen Grambling - Morgan Stanley Shaun Kelley - Bank of America Smedes Rose - Citi Joe Greff - JPMorgan David Katz - Jefferies Brandt Montour - Barclays Dan Politzer - Wells Fargo Bill Crow - Raymond James Ari Klein - BMO Capital Markets Robin Farley - UBS Patrick Scholes - Truist Securities Michael Bellisario - Baird Operator Good day everyone and welcome to today's Marriott International Q2 2024 Earnings. At this time, all participants are in a listen-only mode.
Although the revenue and EPS for Marriott (MAR) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Marriott International (MAR) came out with quarterly earnings of $2.50 per share, beating the Zacks Consensus Estimate of $2.49 per share. This compares to earnings of $2.26 per share a year ago.
Marriott's (MAR) second-quarter 2024 results are likely to reflect increased global travel demand, especially in international markets, thus portraying RevPAR growth. Also, the top-line leverage and efficient operating model are likely to have aided the bottom line.
Get a deeper insight into the potential performance of Marriott (MAR) for the quarter ended June 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.