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Sept. 9, 2021, 2:40 p.m. EDT

Marriott stock gains after CEO sees 'stabilization' in RevPAR in September

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By Tomi Kilgore

Shares of Marriott International Inc. /zigman2/quotes/200170042/composite MAR +0.19% rose 1.0% in afternoon trading Thursday after the hotel operator indicated that business has stabilized following some weakness in August as a results of the recent spike in new COVID-19 cases. Speaking at the Bank of America Gaming & Lodging Conference, Marriott Chief Executive Anthony Capuano revenue per available room (RevPAR) for August is expected to be down 27% from 2019 levels, a slight worsening from the 23% decline seen in July, as COVID-19 infections increased. But after the "slight retrenchment" in RevPAR in August, Capuano said "we are seeing some stabilization in the early days of September," according to a FactSet transcript. He added that while business transient demand may not return as quickly as expected, as the rise in COVID-19 cases has slowed the return of employees to the office, he said the full approval of the Pfizer Inc. /zigman2/quotes/202877789/composite PFE -2.33% and BioNTech SE /zigman2/quotes/214419716/composite BNTX -5.77% COVID-19 vaccine and the return of in-person schooling at more and more school districts "is great news for us." Marriott's stock has slipped 6.0% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.89% has gained 6.5%.

/zigman2/quotes/200170042/composite
US : U.S.: Nasdaq
$ 156.99
+0.29 +0.19%
Volume: 4.75M
Jan. 21, 2022 4:00p
P/E Ratio
111.03
Dividend Yield
0.00%
Market Cap
$51.13 billion
Rev. per Employee
$95,909
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/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 52.79
-1.26 -2.33%
Volume: 41.06M
Jan. 21, 2022 4:02p
P/E Ratio
15.67
Dividend Yield
3.03%
Market Cap
$296.30 billion
Rev. per Employee
$883,274
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/zigman2/quotes/214419716/composite
US : U.S.: Nasdaq
$ 147.50
-9.03 -5.77%
Volume: 4.40M
Jan. 21, 2022 4:00p
P/E Ratio
4.26
Dividend Yield
N/A
Market Cap
$35.77 billion
Rev. per Employee
$8.48M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,397.94
-84.79 -1.89%
Volume: 3.20B
Jan. 21, 2022 4:52p
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