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5 things to know for Feb. 11

Today's headlines: Marriott touts 6.8% jump in net rooms for 2024; EU responds to Trump steel tariffs; San Francisco hotels hope for NBA All-Star Game boost; Profits up, booking pace down for TUI Group; Markets wait on most consequential inflation report of the year
Chase Center in San Francisco will host the NBA All-Star Game on Sunday, Feb. 16. (CoStar)
Chase Center in San Francisco will host the NBA All-Star Game on Sunday, Feb. 16. (CoStar)
Hotel News Now
February 11, 2025 | 4:01 P.M.

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1. Marriott touts 6.8% jump in net rooms for 2024

Marriott International released its fourth quarter and full-year 2024 earnings figures this morning, highlighted by a full-year 4.3% increase in revenue per available room and 6.8% increase in net rooms to 1.7 million across the globe.

Growth for the company was largely driven by international performance, with RevPAR outside the U.S. up 7% for the year.

During the company's earnings call early today, President and CEO Tony Capuano praised the company's room-growth efforts.

“During the year, we also meaningfully expanded the breadth and depth of our portfolio across customer tiers, from luxury to midscale and across both traditional and alternative lodging product offerings,” he said.

For full-year 2024 results, Marriott reported net income of nearly $2.4 billion, down from just over $3 billion in 2023. Total revenue amounted to $25.1 billion, up from $23.7 billion.

2. EU responds to Trump steel tariffs

European Union Chief Ursula von der Leyen responded today to U.S. President Donald Trump's new tariffs on steel and aluminum, promising they "will not go unanswered," the Associated Press reports.

“Tariffs are taxes — bad for business, worse for consumers,” von der Leyen said. “Unjustified tariffs on the EU will not go unanswered — they will trigger firm and proportionate countermeasures.”

European officials say this is likely to result in higher costs for "motorcycles, jeans, peanut butter, bourbon, whiskey" and other common consumer products.

3. San Francisco hotels hope for NBA All-Star Game boost

Hotel in San Francisco have been famously slow to rebound following the pandemic, and many hoteliers are hopeful for a boost from the upcoming NBA All-Star Game and weekend, The San Francisco Examiner reports.

The news outlet reports this is the first in a series of major sports and other events for the market, including hosting some college basketball games next month as part of March Madness. Hotel room nights connected to conventions are also expected to see a significant uptick in 2025 compared to the prior year — 670,158 room nights versus 394,776 — but are still down significantly from the high-water mark set in 2019 of 967,861.

“The current situation is that the market still lags considerably what it used to be before. So there is a long way to go, but we may be surprised on the upside,” Michael Stathokostopoulos, senior director of hospitality analytics at the CoStar Group, told the news outlet.

4. Profits up, bookings pace down for TUI Group

Travel operator TUI is seeing strong numbers in terms of profitability in its latest financial disclosures, but summer booking pace is lagging behind last year, Reuters reports.

Group CEO Sebastian Ebel said the growth in bookings, which are up just 2% for the summer season, is depressed due to the company putting less focus on expanding capacity.

Travel to and across Europe has enjoyed a period of elevated strength in recent years, particularly as the euro has traded favorably in comparison to the U.S. dollar, making vacations more affordable for outbound American travelers.

5. Markets wait on most consequential inflation report of the year

The Federal Reserve faces a big week as the Labor Department prepares to release what experts view as the most consequential monthly inflation report of the year this Wednesday, The Wall Street Journal reports.

"Price hikes in recent years have been exceptionally strong in the month of January, reflecting outsize turn-of-the-year price resets," the newspaper reports. "The upshot is that inflation reports due this week could show whether the Federal Reserve’s fight to bring inflation down has cleared a key hurdle."

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