Marriott posts strong Q1 with 17% EPS growth, raises 2024 outlook amid robust hotel expansion.

Marriott International reported better-than-expected Q1 results, with adjusted earnings per share rising 17% and EBITDA increasing 15%, driven by strong revenue per available room (RevPAR) growth, an expanding hotel portfolio, and steady franchise fee income. The company benefits from disciplined cost management and margin expansion. Marriott's pipeline includes 618,000 rooms, supporting long-term growth prospects. Management has raised its 2024 guidance and remains confident in demand trends. Despite strong performance, the stock is rated 'hold' due to its premium valuation, with a suggested entry point at $330 and a price target of $425 by the end of 2028.