Marriott International (NASDAQ:MAR) narrowed its full-year earnings outlook, citing headwinds from U.S. government spending cuts and softening business travel, though second-quarter results exceeded analyst expectations.
The company reported adjusted earnings of $2.65 per share, up from $2.50 a year ago and ahead of the $2.61 consensus. Revenue increased 4.7% to $6.74 billion, also beating forecasts.
Revenue per available room (RevPAR) was flat in the U.S. and Canada, as weaker domestic travel was balanced by luxury demand. Globally, RevPAR rose 1.5%, with Asia-Pacific, Europe, the Middle East, and Africa showing strong gains.
CEO Anthony Capuano called the quarter “strong,” despite persistent macroeconomic uncertainty. The company’s full-year EBITDA guidance was slightly narrowed to $5.31 billion–$5.40 billion from the prior range of $5.29 billion–$5.43 billion.
