Marriott International is seeing travel demand soften in the Middle East due to the Iran war, but CEO Anthony Capuano says the disruption has so far been contained.
Speaking at a JPMorgan investor conference on Thursday, Capuano said the company has begun to see cancellations and weaker forward bookings due to the conflict, but other markets have not felt the effects.
“For the most part today, the impact of the conflict seems largely limited to the region,” Capuano added. “Europe is holding up fine today. If the conflict expands, there’s obviously real risk.”
Marriott has relatively modest exposure to the region. Capuano said it accounts for about 4% of the company’s global room inventory, 7% of its development pipeline, and 4% of global fees.
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