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Marriott CEO says company watching if slowdown in travel spending was 'just a blip'
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Marriott CEO says company watching if slowdown in travel spending was 'just a blip'
Sep 18, 2024 11:21 AM

NEW YORK, Sept 18 (Reuters) - Marriott International's ( MAR )

Chief Executive Officer Anthony Capuano said on

Wednesday that the company is watching to see if

budget-conscious consumers will continue to pull back their

travel spending in the third quarter.

High-income consumers continue to prioritize travel, but the

company in the second-quarter saw a small pullback by budget

travelers on ancillary spending such as food, beverage and spa

services.

"We'll watch that over the next couple quarters to see if it

was a blip or if they're being a little more judicious in their

spending," Capuano said at a travel conference in New York.

Ancillary spending rose year-over-year in the second

quarter but not quite as much the company had anticipated,

Capuano added.

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