May 9, 2018 / 3:37 PM / 6 months ago

BRIEF-Marriott CEO Says Seeing Tight Construction Markets

May 9 (Reuters) - Marriott International Inc:

* MARRIOTT CEO SAYS SEEING REALLY TIGHT CONSTRUCTION MARKETS

* MARRIOTT CEO SAYS TRAVEL DURING THE CHINESE NEW YEAR EXCEEDED OUR EXPECTATIONS - CONF CALL

* MARRIOTT CEO SAYS WITH RAPID NEAR-TERM GROWTH AND RISING MIDDLE CLASS, WE ARE BULLISH ABOUT INDIA - CONF CALL

* MARRIOTT CEO SAYS ENCOURAGED BY RECENT DEMAND TRENDS IN ENERGY MARKETS - CONF CALL

* MARRIOTT CEO SAYS ECONOMIC OUTLOOK HAS IMPROVED, AT THE SAME TIME, LABOR MARKET IS TIGHT AND WAGES ARE RISING IN MANY MARKETS - CONF CALL

* MARRIOTT - HIGHER OPERATING EXPENSES, PARTICULARLY LABOR COST, PRESSURED MARGINS AT NORTH AMERICAN UPPER-UPSCALE HOTELS IN Q1

* MARRIOTT - MARGIN PRESSURE CAUSED TO REDUCE COMMISSION RATES FOR MOST GROUP INTERMEDIARIES IN NORTH AMERICA TO 7% FROM 10%

* MARRIOTT - CHANGE IN COMMISSION RATES IS FOR BOOKINGS MADE ON OR AFTER APRIL 1 OF THIS YEAR

* MARRIOTT - CHANGE IN COMMISSION RATES WILL NOT HAVE MATERIAL IMPACT ON MARRIOTT RESULTS BUT, IT SHOULD MAKE MEANINGFUL DIFFERENCE TO HOTEL OWNERS

* MARRIOTT - CHANGE IN COMMISSION RATES TRIGGERED CONSIDERABLE NUMBER OF NEW GROUP BOOKINGS IN Q1, LARGELY FOR MEETINGS TAKING PLACE IN 2020 AND BEYOND

* MARRIOTT - EXPECT Q2 AND FY REVPAR WILL INCREASE AT HIGH SINGLE-DIGIT RATE IN ASIA PACIFIC, REFLECTING CONTINUED STRENGTH IN CORPORATE, LEISURE DEMAND

* MARRIOTT - FOR CARIBBEAN AND LATIN AMERICAN REGION, REVPAR GROWTH SHOULD SLOW A BIT

* MARRIOTT - FOR MIDDLE EAST AND AFRICA REGION, TIMING OF RAMADAN SHOULD REDUCE REVPAR IN Q2, FY REVPAR IN THE REGION IS LIKELY TO BE FLAT

* MARRIOTT - IN EUROPE, EXPECT REVPAR WILL CONTINUE TO GROW AT A MID-SINGLE-DIGIT RATE IN BOTH Q2 AND FULL YEAR

* MARRIOTT CEO SAYS QUITE OPTIMISTIC THAT HOME SHARING IN LONDON WILL GO WELL, IF IT DOES, WILL LOOK AT EXTENDING THAT TO OTHER CITIES - CONF CALL

* MARRIOTT CEO SAYS MARRIOTT VACATIONS-ILG DEAL WILL SIMPLIFY THINGS, AND AS A CONSEQUENCE, I THINK WE’RE SUPPORTIVE OF IT - CONF CALL Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below