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    • April 17, 2008

    Ominous Sign: Marriott Profits Down, Travelers Not Booking

    Filed under: Business Travel — Rick Seaney @ 12:00 pm

     

    Marriott International’s profits declined by 34% the first quarter of this year, according to a Bloomberg report.

    The “why” is a no-brainer: the U.S. economy is slowing down.

    According to Bloomberg, “higher gasoline prices and dropping home values led consumers to cut back on vacations and companies to curb travel.”

    Silver lining dept.: international guests are helping Marriott’s bottom line, by taking advantage of the falling dollar; for example, this translates into bargain hotel rates in New York for the Euro-set.
    « US Airways’ New Fee: Pay to Sit (in the best seats, anyway)   Latest Fuel Surcharge Increase: All Major Legacy Airlines Onboard »

    1 Comment »

    1. I think it is all about value in our economy. And Mariott for the most part doesn’t offer that. So when we are looking at hotels (yes we are still traveling), we rarely stay at Marriott (unless we’re using points).

      Comment by beatofhawaii.com — April 17, 2008 @ 4:34 pm

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