- Marriott’s third-quarter earnings showed a 3% increase in worldwide RevPar — or revenue per available room — despite an 8% drop in RevPar in China, the company’s second largest market.
- CEO Anthony Capuano said he does not believe lackluster domestic demand in China will be a long-term problem, pointing to a record-breaking number of hotel signings in early 2024.
- Corporate layoffs are estimated to save the company $80 million to $90 million per year, and are not a “traditional cost-cutting measure” but a decision to push decision-making from the U.S. to other continents, said Capuano.
Marriott International’s business operations and growth are solid, CEO Anthony Capuano told CNBC Monday, amid layoffs of more than…
