The motel is back and in some cases better than ever, but Marriott International and Airbnb still won’t enjoy much R&R.
The financial results of companies this week seem to have a lot of interest. Marriott reported record entertainment demand and said group demand accelerated the most in the quarter. Airbnb meanwhile reported highest profit in the second quarter each had actual net income of hundreds of millions of dollars (not just the adjusted, pretax variety). Business has been so steady lately that Marriott is finally back to issuing guidance, and both companies are buying back their own stock: Marriott said it bought back nearly $450 million on Jan. July, and Airbnb said Tuesday that it has authorized the new $2. share buyback program.
