Marriott reports improvements in Q2 earnings

Marriott aloft hotel
A Marriott Aloft hotel image. (Marriott)

Marriott International reported its earnings for the second quarter of 2021, with improved revenue, occupancy and rates across the company's portfolio.

In the 2021 second quarter, Marriott’s worldwide revenue per available room increased 262.6 percent (a 268.7 percent increase using actual dollars) compared to the same quarter in 2020.

Worldwide occupancy reached 51 percent for the quarter, up 13 percentage points over the first quarter of this year, and improved six percentage points in June over May alone, topping 55 percent. Average daily rate in June was down 13 percent from June 2019.

“As a result, global RevPAR has risen meaningfully and swiftly from the depths of the pandemic, when RevPAR was down 90 percent,” CEO Anthony Capuano said during a call with investors. In June, occupancy was down 38 percent compared to the same month in 2019.

Read more on our our sister publication Hotel Management