Tuesday, May 2, 2023
North America

Marriott Blows Past Analyst Expectations

  • Marriott International blew away estimates and like Hilton, reported a great earnings report on a not-so-great day in the market.
  • Ashford Hospitality Trust reported 1Q results, more or less in line with expectations on the hotel level.
  • Marriott, Hilton and IHG continue to dominate the U.S. hotel construction pipeline according to the recently released United States Construction Pipeline Trend Report from Lodging Econometrics.

The DJIA fell 367 points, a 250-point rebound from the lows, while Nasdaq was down 132, the S&P 500 was down 48 points and the real action is now in the 10-year treasury, down .14 at 3.44%. Lodging stocks were mixed with MAR jumping 5% and bringing a few C-Corps up with them. AHT was down -6%. Marriott International blew away estimates and […]