MAR - Hotel Operator Marriott Slips After Mixed Q1 Earnings | Benzinga
Marriott International Inc (NASDAQ:MAR) shares are trading lower after the company's first-quarter adjusted EPS missed estimates.
The company reported first-quarter FY24 sales growth of 6.5% year-on-year to $5.98 billion, beating the analyst consensus estimate of $5.93 billion.
Comparable systemwide constant dollar RevPAR increased 4.2% worldwide, 1.5% in the U.S. & Canada, and 11.1% in international markets, compared to the first-quarter FY23.
Total expenses declined 9% Y/Y to $5.1 billion. Adjusted EBITDA for the quarter was $1.14 billion versus $1.09 billion a year ...