Marriott: Some Future Group Rates in Canada, US Above 2019 Levels

Group business already on the books for the first quarters of 2022 and 2023 at Marriott International's Canada and U.S. properties has been booked at higher average rates than similar bookings were in 2019, Marriott CEO Tony Capuano said. "Rates for group room nights booked in the first quarter for 2022 and 2023 are currently 6 percent and 10 percent, respectively, above pre-pandemic levels, demonstrating that we are not trading rate for occupancy," he said. Still, while group rates may be up, the number of group room nights on the books for the first quarter of 2022 is down 30 percent compared with 2019 bookings, said Marriott EVP and CFO Leeny Oberg.

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