Marriott trims full-year forecast for revenue, profit as travel demand to US falters
1. Marriott cut its revenue and profit forecasts due to slowing travel demand. 2. Total room revenue in US and Canada rose only 1% compared to last year. 3. Lower-cost hotels are most affected by a 17% decline in government bookings. 4. Luxury brands saw a 4.1% revenue increase, contrasting with budget segments. 5. Macro-economic uncertainty and inflation pressure budget travelers' spending habits.