(Reuters) -Hotel operator Marriott International raised its forecast for annual adjusted profit after mixed first-quarter results on Wednesday, banking on international travel demand to boost its full-year performance. International and group travel are expected to offset plateauing leisure demand in North America, as travelers flock to overseas destinations in Asia and places like Saudi Arabia and Dubai in the Middle East. "Our results in the first quarter highlight the resiliency of our asset-light business model and the strength of our brands," said CEO Anthony Capuano.
Hotel operator Marriott International raised its forecast for annual adjusted profit after mixed first-quarter results on Wednesday, banking on international travel demand to boost its full-year performance. Shares of the Ritz-Carlton owner were flat in premarket trading, after its adjusted quarterly profit of $2.13 per share lagged analysts' expectations of $2.17. The Maryland-based company still raised its 2024 adjusted profit forecast to a range of $9.31 to $9.65 per share, compared to a previous outlook of $9.18 to $9.52 per share.
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