Marriott International released its Q4 and full-year 2022 earnings on Tuesday, beating analysts’ expectations as demand for travel continues to rise.
CEO Tony Capuano said demand for leisure travel in the U.S. and Canada, the company’s largest markets, held strong, and group travel topped pre-pandemic levels.
- Business travel was nearly 90% recovered to pre-pandemic levels in the U.S. and Canada.
- Marriott generated $5.92B in revenue in Q4, up from $4.4B reported in Q4 2021.
- Q4 net income came in at $673M, or $2.12 a share, up from $468M reported in the prior year.
- Marriott’s Q4 revenue per available room (RevPAR) rose 28.8% globally and increased 23.6% in the U.S. and Canada.
- RevPAR rose 45.1% in international markets.
- Marriott shares closed at $181.27 on Tuesday, up ~4% for the day.
