The Marriott Hotel chain has been one of the best neighborhoods since the beginning of the pandemic

The international hotel chain Marriott International Inc. (MAR) reported one of the best quarters since the beginning of the pandemic. The company has been a beneficiary of the tourism industry’s recovery and easily surpassed Wall Street analysts’ forecasts for revenue and profit in the first quarter. At the auction on May 5, the MAR stock was worth $177.66, having risen in price by more than 25% over the past 12 months.

Over the past quarter, Marriott International’s revenue increased by 81% year-on-year and exceeded $4.1 billion. Net income rose to $413 million, or $1.25 per share. For comparison, in the same quarter a year earlier, net profit was $34 million. Both of the indicators were significantly better than what Wall Street was expecting. Marriott International’s profit margin was the best of the two.

Note that Marriott has become one of a large number of companies that have benefited from the recovery of the tourism industry. According to the company’s management, in the first quarter, the hotel chain saw the largest surge in global demand since the beginning of the pandemic in 2020. The number of tourists continues to increase rapidly.

If the average occupancy of Marriott International hotels was around 45% in January, it was 64% in March, only 10% lower than the same period prior to the pandemic. Marriott International also followed the example of many other companies in the tourism industry and did not provide an accurate forecast for future periods, mentioning only that the company looks to the future with optimism. In particular, it is expected to increase sales even more in the field of business travel, as well as stimulate more activity in foreign travel. However, the shares of the hotel chain may remain volatile due to inflation, which may affect travelers’ plans.