Economy

Marriott’s RevPAR up 5.3% in strong Q2 results

Marriott International has reported strong second quarter results in 2015, boosted by a 5.3% increase in revenue per available room (RevPAR) and a 6% increase in rooms worldwide. 

Both of these helped to drive revenue to $3.7bn (£2.37bn), compared with $3.5bn (£2.24bn) in thesame period last year. The company’s adjusted EBITDA totalled $457m (£292m), a 12% increase on the same period in 2014.

The company added over 20,000 rooms to its portfolio during the second quarter, including nearly 3,800 rooms in markets outside the US.

Arne Sorenson, president and CEO, said, “We were pleased with our results in the quarter.  Our worldwide RevPAR grew over 5% and rooms growth increased more than 6%. With many hotels reporting peak occupancy rates, room rates continue to move higher.”

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In its forecast for the full year 2015, Marriott expects that worldwide RevPAR will increase to between 5.5% and 6.5% worldwide.

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