Marriott Reports Q1 Global RevPAR Increase of 4.2% and Expands Development Pipeline to Over 4,100 Properties
📈 Marriott International reported a 4.2% global RevPAR increase in Q1, with 4% growth in the U.S. & Canada and 4.6% internationally. Luxury RevPAR rose 7%, while select-service increased by 3.5%. Marriott's development pipeline reached over 4,100 properties, with over 618,000 rooms, and conversions accounted for over 35% of signings. A 30% RevPAR decline in the Middle East was noted. Net rooms grew by 5%, and Marriott Bonvoy has 283 million members. AI technology advancements are ongoing.
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