Marriott Sees SME Business Travel Uptick with Higher Rates Expected for 2023

Business travel demand continues to recover in Marriott International's largest markets, US and Canada, while revenue per available room (RevPAR) in Europe increased by 90.3 per cent YoY to reach USD $156.10, outpacing the global growth rate by 60 per cent, the hotel chain reported in Q3 results.

BTN Europe reports Marriott’s Q3 business transient demand in the US and Canada increased to 11 per cent below 2019, compared with 13 per cent down in Q2.

Demand is being driven by SME’s - small and medium-sized enterprises, says the company, while larger - and especially tech - companies lag behind 2019 levels.

In-progress negotiations for 2023 indicate a rise in corporate rates after two years of holding steady, with early results looking at high single-digit year-over-year rate growth.

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