(Reuters) -Hotel operator Marriott International lowered its forecast for 2024 room revenue growth on Wednesday, as the domestic travel industry in the U.S. continues to perform poorly.
Shares of the company were down 4.7% before the bell.
Marriott expects revenue per available room (RevPAR) to grow between 3% and 4% this year, compared to the 3% to 5% growth it had previously forecast.
Domestic travel in the U.S. has been weak since the start of the year as more tourists are choosing to travel internationally to destinations in Asia, Latin America and Europe.
The company said it was also impacted by a weaker operating environment in Greater China.
Total revenue for the quarter through June 30 was $6.44 billion, up about 6% from a year earlier.
(Reporting by Aishwarya Jain; editing by Milla Nissi)
