Benzinga | Oct 1, 2021 12:13PM EDT

Why Marriott Shares Are Rising

Shares of companies in the travel, leisure, live event and resort space, including Marriott International Inc (NASDAQ:MAR) are trading higher after data showed Merck's oral antiviral molnupiravir reduced risk of hospitalization or death in COVID-19 patients, which has helped alleviate some Delta variant concerns. Concerns over the COVID-19 Delta variant have weighed on travel outlook in recent months.

Marriott shares are trading higher by 13.5% over the past month, potentially amid reopening optimism.

Marriott operates over 1.4 million rooms across roughly 30 brands. Marriott, Courtyard and Sheraton are the largest brands, while Autograph, Tribute, Moxy, Aloft and Element are newer lifestyle brands.

Marriot has a 52-week high of $159.98 and a 52-week low of $88.92.