Marriott's Stellar Quarter and Optimistic Outlook
Skift Take
- Marriott International followed up Hilton’s solid 4Q earnings report with one of their own, easily beating estimates on solid 4.6% RevPAR growth.
- 21c Museum Hotels will open its tenth hotel this spring, a 10-story lodging in St. Louis, Missouri.
- Marriott was up $6.90 a share, Hyatt was up $4.73, Hilton was up $2.38 and Airbnb is currently surging double digits in after hours trading on their earnings report
The DJIA was down 157 points while Nasdaq was up 68, the S&P 500 was down a point and the 10-year treasury yield was up another .04 to 3.76%. Lodging stocks were higher but it was the dollar amount on the higher priced C Corps that was the story. Marriott was up $6.90 a share, Hyatt was up $4.73, Hilton was up $2.38 and Airbnb is currently surging double digits in after hours trading on their earnings report.
Marriott International followed up Hilton’s solid 4Q earnings report with one of their own, easily beating estimates on solid 4.6% RevPAR growth. MAR said they know that hospitality will not be immune to a recession but also made it clear they haven’t seen any signs of it yet. They bought back $1.4 billion worth of stock in 4Q22 and already bought back $400 million so far in 2023. MAR also noted a 51.6% worldwide RevPAR growth number in January. Remember that n
