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Here's Why Marriott International Was Rising on Monday

TheMotleyFool

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Here's Why Marriott International Was Rising on MondayPhoto, wide shot, wide-angle lens, Heavy machinery, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/c15253b0-7330-4605-a666-66954eaf6715.png

The stock market was having a mixed day on Monday, with the S&P 500 index modestly lower and the Dow Jones Industrial Average slightly higher at 3 p.m. EST. However, hotel operator Marriott International (NASDAQ: MAR) was outperforming the market handily, with shares up by about 6% for the day and hitting a fresh 52-week high.

It may seem odd that a hotel operator is reaching a new high today. After all, the hotel business is still running at a fraction of pre-pandemic business levels, and Marriott recently reported a 50% year-over-year revenue decline in 2020 and its first annual loss since the financial crisis era.

Image source: Getty Images.

Source Fool.com

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