The hotel chain operator Marriott International Inc. (MAR) was on an upward trajectory during November. Several factors which may suggest a potential rapid recovery of the hotel and tourism industry have positively influenced the sentiment of investors.
Top 5 Cheap Stocks to Own Right Now
While finding safe stocks with the potential for monster gains isn't always easy, we've found a few that could pay out well. In fact, within our report, "Top 5 Cheap Stock to Own Right Now", we have identified five stocks we believe could appreciate the most even if you just have $1,000 to invest.
Sign up here to get your free report now. .
Reports of the high efficacy of the COVID-19 vaccine, which is being produced by Pfizer and BioNTech as well as Moderna, were one of the key news stories that helped the growth of Marriott International in November. Marriott International should predict at least a partial return of visitors to hotels and resorts if mass vaccination begins in the coming months. In addition, after the lifting of restrictions, the firm assumes that the delayed demand will be a catalyst for a rapid recovery.
The rise in shares was also helped by the quarter’s surprisingly strong performance. Over the previous year, Marriott International noted a 66 percent decrease in average revenue per bed, indicating that the industry as a whole is in decline. The sales of the company declined by 57% year-on-year, to $2.25 billion. Strong cost control, however, resulted in $0.06 per share in adjusted earnings. That was down from $1.47 per share a year earlier, but better than the $0.08 per share expected loss.
But, in the face of current strain of the virus affecting the European region is likely to increase negative trends related to COVID-19 will affect Marriott International’s business in the fourth quarter. This year’s holiday season will be substantially different from last year, as there are still tight limits on travel and social interaction in many regions especially in Europe. However, as already reported, after the start of the mass vaccination, Marriott International is waiting for the return of tourists.
At the December 21 trading, the shares of the Marriott International Inc. (MAR) were worth $127.32, with the lost risen to roughly 16 percent since January this year.