08/03/2021

Marriott Profit Beats Estimates as Travel Recovery Gains Pace

The results come at a time when the Delta variant is striking countries worldwide

Hotel operator Marriott International Inc. on Tuesday beat Wall Street estimates for quarterly profit as a recovery in travel began to aid a battered global tourist industry.

Marriott's results come at a time when a new wave of COVID-19 cases fueled by the Delta variant of the coronavirus is striking countries worldwide, potentially upending travel plans.

The company, which owns hotel brands such as the JW Marriott and the Ritz-Carlton, said second-quarter occupancy in its key U.S. & Canada and Greater China markets rose to 56.1 percent and 62.4 percent, respectively, compared to 19.6 percent and 35.5 percent a year earlier.

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