China domestic travel rebound fuels earnings at Marriott, Hyatt

NEW YORK -- The return of domestic travel in China is driving earnings at top international hotel chains, with Marriott Intercontinental and others reporting almost full recoveries in accommodation spending to pre-pandemic levels in that market.

Marriott, the world's largest hotel group, this week reported a net income of $757 million in the first quarter, doubling its total from the year before. Hilton Worldwide Holdings's net income of $209 million was relatively flat over 2022. Hyatt reported a net income of $58 million in a turnaround from a $73 million loss last year while InterContinental Hotels Group also reported a rise in income.