Flexible work arrangements have fueled travel demand and helped hotel operators to improve their margins that took a beating during the pandemic. The travel industry has also benefited in the last few quarters from a strong U.S. dollar.

"With the faster than expected recovery in international markets and continued solid booking trends globally to date in the second quarter, we are raising our RevPAR guidance for the full year," Marriott Chief Anthony Capuano said.

Marriott forecast full-year growth in revenue per available room (RevPAR), a key measure for a hotel's top-line performance, between 10% and 13%, compared with its prior forecast of 6% to 11%. It posted a 34.3% rise in its first-quarter RevPAR.

The company's positive commentary pushed up its shares nearly 2% in premarket trading on Tuesday.

Marriott has seen a steady uptick in bookings, even as experts had feared that high inflation and fears of an economic slowdown could dent consumer spending.

The company, which owns hotels such as Sheraton, Westin and St. Regis, expects full-year adjusted profit between $7.97 and $8.42 per share, compared with its prior forecast of $7.23 to $7.91.

For the first quarter ended March, it reported an adjusted profit of $2.09 per share, compared with the average analyst estimate of $1.84 per share, as per Refinitiv data.

Revenue rose 34% to $5.62 billion, ahead of analysts' average estimate of $5.41 billion.