During the conference presentation, Marriott CEO Anthony Capuano said that in the first quarter of the year, Marriott had continued demand, and it expects in the future that pleasure travel will continue, business travel will accelerate and international flights will gain more momentum. financial results.
Globally, strong demand trends continued into April, and we expect leisure travel to remain strong, commercial travel to accelerate, and cross-border travel gaining momentum, underpinning the strong performance from ADR. In the US and Canada, we achieved a milestone in April as we estimate RevPAR for the month fully recovered to 2019 levels.”
Likewise, it expects revenue per room (RevPAR) in the US and Canada for the remaining quarters of this year to be roughly similar to 2019 levels. Global economic or virus behavior, we are increasingly optimistic that the global gap in revPAR compared to pre-pandemic levels will continue to narrow significantly in 2022.”
Within the hotel company’s financial results, RevPAR in the USA and Canada improved significantly in February and March, particularly in its metropolitan markets, driven by occupancy and rate gains in all customer segments. “Internationally, RevPAR gains were notable during the quarter in all regions except Greater China, due to stringent travel restrictions stemming from the political dynamic in the COVID-free country. The Middle East and Africa again saw the largest recoveries, with RevPAR up in the quarter The first by 12 percent compared to 2019.”
Total net income for the first quarter was $377 million, compared to a net loss of $11 million in the first quarter of last year. Adjusted net income for the first quarter was $413 million, compared to the first quarter of 2021, adjusted net income of $34 million. Adjusted EBITDA was $759 million in the first quarter of 2022, compared to $296 million in the first quarter of 2021.
As mentioned REPORTUR.usMarriott International has announced plans to expand its portfolio in Vietnam, taking advantage of opening borders and anticipating the addition of nearly 9,000 rooms within the company’s portfolio. (Marriott quadrupled its portfolio in Vietnam with 30 hotel signings.)
The hotel owner will launch the first brands including The Ritz-Carlton Residences, Marriott Hotels, Westin and Courtyard by Marriott. “Vietnam experienced impressive economic growth before the pandemic, driven in part by coordinated development policies and massive infrastructure investment,” said Rajiv Menon, President of Asia Pacific (excluding Greater China) for Marriott International. “Our growth in Vietnam reflects the trust our local owners and franchisees continue to have in Marriott International, and we look forward to giving them opportunities to benefit from our comprehensive portfolio of 30 brands, as well as our strong distribution network.”