Marriott Blows Past Analyst Expectations
Skift Take
- Marriott International blew away estimates and like Hilton, reported a great earnings report on a not-so-great day in the market.
- Ashford Hospitality Trust reported 1Q results, more or less in line with expectations on the hotel level.
- Marriott, Hilton and IHG continue to dominate the U.S. hotel construction pipeline according to the recently released United States Construction Pipeline Trend Report from Lodging Econometrics.
The DJIA fell 367 points, a 250-point rebound from the lows, while Nasdaq was down 132, the S&P 500 was down 48 points and the real action is now in the 10-year treasury, down .14 at 3.44%. Lodging stocks were mixed with MAR jumping 5% and bringing a few C-Corps up with them. AHT was down -6%.
Marriott International blew away estimates and like Hilton, reported a great earnings report on a not-so-great day in the market. Despite that, they were able to rally and take Hilton and Hyatt with them despite the carnage around them. MAR did a beat and raise, had a modest increase to their pipeline, had positive comments on Asia and not much that could be interpreted as negative by a skeptical market. Increasing their capital return guidance did not help either, now expecting $3.6 to $4.1 billion. MAR returned $2.9 billion to shareholders in 2019 via dividends and share repurchases. MAR, which closed on the City Express b