Marriott wins more than 1,908 million through the third quarter, 11% more

It foresees a RevPar increase of between 1% and 3% worldwide by 2019

Marriott International recorded a net profit of 1,491 million dollars (1,308 million euros) in the first nine months of the year, which is 11% more than what it registered in the same period of the previous year, the hotel group reported.

The turnover of the hotel group stood at 15,401 million dollars (13,516 million euros) which is 1.3% more than in the first nine months of 2017.

Revenue per available room (RevPar) in establishments operated by the company increased by 0.6% in the first nine months, driven especially by demand in Asian markets. In North America, employment stood at 77.4%, with an increase in RevPar of 2.7%.

From January to September, operating income before taxes was 2,609 million dollars (2,289.7 million euros), 11% higher than in the same period of 2017. Costs amounted to 13,591 million dollars (11,927.7 million). million euros), 3.5% more.

Marriott reported earnings of 483 million dollars (423 million euros) in the third quarter, 0.4% less than what it obtained in the same period of 2017.

According to the president and executive director of Marriott International, Arne M. Sorenson, two years after the acquisition of Starwood, the group is integrating both companies correctly and they are “satisfied” with the results. ”

FORECASTS
According to Sorenson, the company expects the RevPar to increase 2% during the fourth quarter of 2018 worldwide, being 1% in North America and between 5% and 6% in the rest of the world.

For the whole of 2018, the group will increase its number of rooms by almost 7%, while 2% will be eliminated, which will translate into an increase of 5% in capacity by the end of the year. It is expected that this increase will cause growth of approximately 5.5%.

As for 2019, RevPar is expected to increase between 2% and 3% worldwide, being 1% in North America and between 3% and 5% in the rest of the world.