Marriott: Q1 corporate travel steady, rates rise
First-quarter business transient revenue in the U.S. and Canada was 90% recovered compared with 2019 levels
Marriott International’s first-quarter business remained steady, while the company's revenue per available room gained and demand increased, particularly in Greater China.
Key takeaways
- While demand across all markets was strong, “international markets were particularly robust,” the company reported;
- Internationally, occupancy increased 18.3% points year over year to 63.9% - the bulk of which was “overwhelmingly” driven by domestic travel within the Asia-Pacific market;
- Marriott attributs the steady recovery to increased rate bumps and “higher special corporate negotiated rates and 15 percent growth in group ADR.
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