Why is the Marriott stock price so high?

Why is the Marriott stock price so high?

August 18, 2021 Comments Off on Why is the Marriott stock price so high? By admin

The hotel chain’s stock price is up more than 30% in 2017, thanks to strong expansion in China and overseas expansion, according to the market’s latest survey.

The company has more than doubled its operating profit for the year, thanks largely to a strong return on its hotel brands and its purchase of Marriott International.

Marriotts shares are up more, though, because of stronger global growth and higher occupancy.

“I think we’re seeing the next wave of hotel growth, and that is going to be very healthy for our business, as well as the consumer market,” Marriott CEO Andrew Conrad said in a conference call with analysts Tuesday.

Marriott has seen its share price increase about 35% in the past year.

“It’s been a very exciting year for us and for our shareholders,” Conrad said.

Conrad says the company expects to increase its quarterly profit by about 10% for the second quarter, and by about 20% for 2018.

Marriott International has also seen a steady return, as the company’s hotel brands have benefited from rising international hotel occupancy.

Marriott reported its first-quarter earnings for the fourth quarter, with profit of $1.2 billion.

Conrad told analysts Tuesday that the company is still in “the process of reallocating our business to be more profitable,” which is a “very aggressive plan.”

Marriott is also expanding its international business, including adding new hotels in China, Brazil, South Africa, Singapore, and Thailand.

Conrad said that the global expansion will help boost occupancy rates at its hotels in the United States, and he said the company hopes to open its first hotel in China next year.

Conrad also said that his company has “strong confidence” in the strength of its business in China.

“China is a great place to be,” Conrad told investors.

Marriott shares rose as much as 5.5% in 2016, before they fell.

Conrad will be the first CEO of Marriott to take over from the late Howard Schultz, who left to become president and CEO of Starbucks.

The Marriott company is expected to announce the next CEO in early 2017.