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Published on 30 May 2023 on Zacks via Yahoo Finance

Marriott International (MAR) Banks on Robust Demand & Expansion


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Marriott International, Inc. MAR has been riding on solid demand and its expansion plans. Also, strategic acquisitions and digital innovations bode well.Recently, MAR reported impressive first-quarter 2023 results, with earnings and revenues beating the Zacks Consensus Estimate by 12.4% and 6.4%, respectively. Also, the top and the bottom line increased year over year by 33.7% and 67.2%, respectively. The upside was backed by robust demand across all the customer segment.Shares of MAR have increased 15.3% in the year-to-date period compared with the Zacks Hotels and Motels industry’s rise of 8.9%. Earnings estimates for 2023 have moved north to $8.39 per share from $7.77 per share in the past 30 days. This depicts analysts' optimism over the company’s growth prospects.

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