Marriott CEO says company watching if slowdown in travel spending was 'just a blip'

By Doyinsola Oladipo

NEW YORK (Reuters) -Marriott International's Chief Executive Officer Anthony Capuano said on Wednesday that the company is watching to see if budget-conscious consumers will continue to pull back their travel spending in the third quarter.

High-income consumers continue to prioritize travel, but the company in the second-quarter saw a small pullback by budget travelers on ancillary spending such as food, beverage and spa services.



"We'll watch that over the next couple quarters to see if it was a blip or if they're being a little more judicious in their spending," Capuano said at a travel conference in New York.

Ancillary spending rose year-over-year in the second quarter but not quite as much the company had anticipated, Capuano added.

Source: Investing.com