By Katherine Hamilton

Marriott International beat expectations with its first-quarter earnings, but lowered its outlook to account for slower demand in North America.

The Bethesda, Md., hotel company on Monday posted a profit of $665 million, or $2.39 a share, in the quarter ended March 31, compared with $564 million, or $1.93 a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were $2.32, ahead of the $2.25 forecast by analysts, according to FactSet.

Revenue rose 5% to $6.26 billion. Analysts surveyed by FactSet forecast revenue of $6.19 billion.

Marriott lowered its outlook for the second quarter and full year, incorporating somewhat softer expectations in the U.S. and Canada, it said. It now expects revenue per available room, a key metric for hotels, to grow 1.5% to 2.5% in the second quarter, down from previous guidance of 3% to 4%. For the full year, it expects that measure to grow 1.5% to 3.5%, down from 2% to 4%.

Chief Executive Anthony Capuano said he was confident in the company despite what he called "heightened macroeconomic uncertainty."

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

May 06, 2025 07:18 ET (11:18 GMT)

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