Marriott shares hospitality outlook
While the hotel industry faced challenges in the first quarter, Marriott remains optimistic about its performance through 2024
Leeny Oberg, Marriott International's CFO and EVP of Development, expects 3-5% global revenue-per-room growth this year. She notes strong travel demand across all segments and industry-wide high tourism interest in 2024.
Key takeaways
Oberg sees a stable U.S. economy and sustained travel enthusiasm as positive signs for the industry's future;
Despite higher interest rates affecting development, Marriott experienced a 25% uptick in construction starts in Q1 2024 compared to Q1 2023.
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