1122 ET - Marriott International took a hit from government layoffs during the first quarter, executives said during a call with analysts. Revenue per available room from the U.S. government declined 10% in March. The government's contribution to room nights at an average daily rate in the U.S. and Canada was 21% lower than average, management said. While the hotel company lowered its outlook to account for slower demand continuing through the year, executives said they're hopeful the environment could improve as they tracked some improvement in April compared with March. "We do believe March had some almost a bit of a one-time impact from the shock of the government layoffs as well as a lot of tariff announcements," Chief Financial Officer Kathleen Oberg said. (katherine.hamilton@wsj.com)
(END) Dow Jones Newswires
May 06, 2025 11:22 ET (15:22 GMT)
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