Marriott CEO: Middle East RevPAR Drop Narrowed to 12% in July, Global Room Revenue Up 7%
MAR sits 29% above its 52-week low of $256.76.
Summary
CEO Anthony Capuano said Middle East RevPAR fell 12% in July, a sharp improvement from the 43% plunge in Q2, and global room revenue rose 7% led by 8% growth in the U.S. and Canada. The Middle East accounts for only 3% of global fees but 6% of the development pipeline, where conflict-related delays are pushing full-year net unit growth toward the lower end of guidance. Capuano dismissed 'revenge travel' as the driver, citing broad-based demand across demographics and brands. This follows Q2 results that beat EPS but missed revenue due to the Middle East drag; the July data suggests the worst regional impact may be passing. Watch for Q3 earnings to confirm the recovery trend.
At the time of this announcement, MAR was trading at $329.96 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $86B. The 52-week trading range was $256.76 to $410.98. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.