Marriott International Inc.’s third-quarter revenue and profit doubles due to a strong increase in leisure travel. The company’s shares jumped 4% to hit a record high with predictions of leisure demand continuing to grow into 2022. The occupancy in its key US & Canada and Greater China markets stood at 63.5% and 52.7%, respectively, in the third quarter, compared to 37% and 61.4% last year. Marriott said its revenue rose 75% to $3.95 billion and its net income jumped to $220m in the quarter ended September 30, from $100m, a year earlier. With Covid-19 travel restrictions being lifted by many countries across the globe for fully vaccinated international visitors, the hotel operators are bracing for a surge in demand in the coming months. “Globally, leisure travel generally remained very strong throughout the quarter, while the Delta variant had the most impact on business transient demand,” said Anthony Capuano, CEO, Marriott International.
