Marriott Q4 corporate travel tops 2019

Negotiated corporate rate growth for 2023 is in "the high single digits"

Feb 15, 2023

Marriott International’s fourth-quarter business transient demand reached nearly 90 percent recovery, with average daily rate and revenue per available room each increasing 3 percent from 2019 levels, president and CEO Anthony Capuano said Tuesday during a quarterly earnings call.

Key takeaways

  • Day-of-the-week trends in the U.S. and Canada continue to point to the blending of business and leisure trips in Q4 while midweek occupancy was still down mid-single-digit percentage points versus 2019;
  • The average length of a business transient trip in the U.S. has increased by more than 20 percent compared with 2019;
  • Group business proved to be a “bright spot” in Q4, experiencing the “most meaningful improvement in 2022" in the U.S. and Canada.

Get the full story at BTN

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