BETHESDA (dpa-AFX) - Shares of Marriott International, Inc. (MAR) slipped 6% after the hotel operator reported second-quarter results.
The stock is currently trading at $351.96, down $20.87 or 5.60%, on the Nasdaq. It opened at $359.43 after closing the previous session at $372.83. The stock has traded between $255.27 and $410.98 over the past 52 weeks.
Marriott reported second-quarter net income of $766 million, or $2.90 per share, compared with $763 million, or $2.78 per share, a year earlier. Adjusted net income increased to $844 million, or $3.19 per share, from $728 million, or $2.65 per share.
Worldwide RevPAR rose 3.4%, driven by 5.0% growth in the U.S. and Canada, while revenue increased 5% to $7.07 billion.
The company raised its full-year 2026 worldwide RevPAR growth forecast to 3.0%-3.5% and continues to expect year-end net room growth at the low end of 4.5%-5.0%. It also projects full-year adjusted earnings per share of $11.64-$11.81.
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