Marriott International Inc. posted gains for the June quarter, driven by leisure travel, as the company keeps an eye on the spread of the Delta variant, Chief Executive Anthony Capuano said.
“The rate of global lodging recovery accelerated during the second quarter and momentum has continued into July,” Mr. Capuano said Tuesday. “Leisure demand once again led the way, although business transient and group demand also continued to grow” in the U.S. and Canada, which together comprise the company’s largest region.
The hotel chain, whose portfolio encompasses roughly 7,800 properties world-wide, sees demand for business and group stays rising in the fall as it anticipates more workers returning to offices on a hybrid basis, Mr. Capuano said. “Many of our associates are starting to get back on the road, and our largest corporate clients tell us they are beginning to do the same,” he said.
The company, based in Bethesda, Md., has also seen more blending of leisure trips with business travel, a trend it expects to continue, Mr. Capuano said.
The company turned a profit of $422 million, compared with a loss of $234 million in the prior-year period. Revenue more than doubled to $3.15 billion but missed Wall Street estimates.
