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Marriott International Inc (NASDAQ: MAR) topped quarterly expectations due to increased occupancy levels and pricier rates amid high travel demand.
The company posted adjusted earnings of $1.80 per share, beating expectations of $1.56 a share, according to Refinitiv data. In the quarter, revenue rose 70% to $5.34 billion, topping expectations of $4.92 billion.
For the third-quarter, the company expects earnings per share, excluding items, of $1.59 to $1.69 per share, compared with analysts' estimates for $1.58 per share.
With the ease in Covid-19 restrictions, people are spending more on travel including hotels and airlines.
Picture Credits: Reuters
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