1134 ET - Consumers are prioritizing their spend on travel. Leisure travel accounts for 44% of Marriott International's global room nights in 4Q, CEO Tony Capuano says on a call with analysts. He adds that leisure was the company's fastest-growing unit, with revenue per available room, or RevPAR, up 6% globally. Business travel is also strong, accounting for about one-third of global room nights during the quarter, he says. Group travel posts its lowest growth quarter of the year, which Capuano attributes to fewer group events in the U.S. around November's election. Shares fall 5.7% as Marrott's outlook underwhelms investors. (connor.hart@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 11:34 ET (16:34 GMT)
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