1139 ET - Marriott International CEO Tony Capuano says on a call with analysts that the U.S. and Canada had their best quarterly growth in revenue per available room, or RevPAR, for the year during 4Q, up 4% on higher average daily rates. "The drop in occupancy around November's U.S. election was not as severe as we had anticipated," he says. International RevPAR grew 7% during the recent quarter thanks to higher prices and occupancy. The increase, Capuano says, was led by strong growth in Japan, India and Thailand, in addition to strong leisure demand across Europe. Shares slip 6% as Marriott's outlook underwhelms. (connor.hart@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 11:39 ET (16:39 GMT)
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