Financial Data and Key Metrics Changes - For the full year 2024, Marriott achieved net rooms growth of 6.8% and global RevPAR rose over 4% [6] - Fourth quarter worldwide RevPAR increased by 5%, with ADR rising by 3% and occupancy increasing over 1 percentage point [7] - Fourth quarter total gross fee revenues grew by 7% to $1.3 billion, driven by higher RevPAR and room additions [23] - Fourth quarter adjusted EBITDA grew by 7% to $1.29 billion, with hotel-level profit margins rising by 110 basis points [25] - For the full year, gross fees and adjusted EBITDA both increased by 7% [26] Business Line Data and Key Metrics Changes - Leisure RevPAR, which comprises 44% of global room nights, had its strongest growth quarter of the year at 6% globally [11] - Business transient RevPAR rose by 3% globally, with solid gains in ADR [12] - Group RevPAR, which comprised 23% of room nights, rose by 3% in the quarter [12] - For the full year 2024, group RevPAR increased by 8%, while leisure and business transient both rose by 3% [13] Market Data and Key Metrics Changes - U.S. and Canada saw fourth quarter RevPAR growth of over 4%, primarily driven by higher ADR [8] - International RevPAR rose over 7% in the quarter, driven by a 4% rise in ADR and a 2 percentage point gain in occupancy [8] - APAC RevPAR increased by 12.5%, led by strong growth in Japan, India, and Thailand [9] - RevPAR in the EMEA region rose by 8%, with broad-based growth across the region [9] - RevPAR in Greater China declined by 2%, better than prior expectations [9] Company Strategy and Development Direction - The company plans to continue expanding its global portfolio, with a focus on conversions and new builds [14] - Marriott aims for net rooms growth of 4% to 5% in 2025, with a compound annual growth rate of 5% to 5.5% from 2022 to 2025 [27] - The company is enhancing its digital transformation, which is expected to improve customer engagement and operational efficiency [21][65] - Marriott is committed to maintaining its investment-grade rating while returning excess capital to shareholders [39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the strong demand for travel and the company's performance in 2024 [6] - The company anticipates global RevPAR growth of 2% to 4% in 2025, with expectations for international regions to outperform the U.S. and Canada [28] - Management noted that the recovery of business transient travel is ongoing, with small- and medium-sized businesses recovering faster than large corporates [120] - The company remains cautious about the macroeconomic environment impacting leisure travel [108] Other Important Information - Marriott added over 31 million new members to its loyalty program, growing to nearly 228 million members by year-end [19] - The company plans to invest $1 billion to $1.1 billion in 2025, focusing on technology, owned lease portfolio renovations, and new unit contracts [36] - The company expects to see a decline in G&A expenses by 8% to 10% in 2025 [32] Q&A Session Summary Question: Update on cost transformation and efficiency program - Management indicated that the impact of the organizational changes is still early, but there is positive energy and enthusiasm from both internal teams and the owner/franchisee community [44][45] Question: Appetite for additional tuck-in acquisitions - Management stated that while they remain open to tuck-in acquisitions, the majority of growth will be organic [55] Question: Impact of political tensions on Canadian and Mexican travelers - Management noted that it is too early to see significant impacts, as U.S. and Canada travel is primarily driven by domestic travelers [58] Question: Insights on tech migration and its implementation - Management explained that the tech transformation will roll out over several quarters, enhancing efficiency and guest engagement [65] Question: Composition of RevPAR and expectations for 2025 - Management expects group RevPAR to lead growth in 2025, with a focus on ADR rather than occupancy [68] Question: Factors affecting gross fee growth - Management highlighted FX headwinds and lower residential brand fees as key factors impacting fee growth [71][72] Question: Unit growth expectations from conversions versus new construction - Management indicated that approximately 30% to 40% of unit growth in 2025 is expected to come from conversions [78] Question: Key money and its role in growth - Management confirmed that key money remains a valuable tool for driving growth, particularly in high-value tiers [101] Question: Recovery of business transient travel - Management noted that business transient travel has recovered to 2019 levels, with small- and medium-sized businesses leading the recovery [120] Question: Outlook for international RevPAR growth - Management indicated that international RevPAR is expected to outperform the U.S., driven by strong GDP growth in certain markets [151]

Key TakeawaysMarriott International gave weaker-than-expected guidance, and shares fell from their record closing high set yesterday.The hotelier's current-quarter profit and room-growth outlook were below analysts' forecasts.The news offset better-than-anticipated fourth-quarter earnings and revenue. Marriott International (MAR) shares fell 4% Tuesday as the hotel operator's guidance missed forecasts on slower room growth. The company sees current-quarter adjusted earnings per share (EPS) in the range of $ ...

Marriott International (MAR) reported $6.43 billion in revenue for the quarter ended December 2024, representing a year-over-year increase of 5.5%. EPS of $2.45 for the same period compares to $3.57 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $6.4 billion, representing a surprise of +0.46%. The company delivered an EPS surprise of +2.94%, with the consensus EPS estimate being $2.38.While investors scrutinize revenue and earnings changes year-over-year and how they compare wit ...

Core Insights - Marriott International reported Q4 2024 earnings that exceeded analysts' expectations, with adjusted EPS of $2.45 compared to estimates of $2.39 and total revenue of $6.43 billion, slightly above the anticipated $6.4 billion [1][2] Financial Performance - Adjusted EPS for Q4 2024 was $2.45, down 31.6% from $3.57 in Q4 2023 [3] - Total revenue reached $6.43 billion, a 5.5% increase from $6.1 billion in Q4 2023 [3] - Adjusted EBITDA increased by 7.4% to $1.29 billion from $1.2 billion the previous year [3][7] - Net income fell to $455 million, a decline of 46.3% from $848 million in the prior year [3][7] - Management and franchise fees rose by 10% to $1.13 billion [7] - Total debt increased by 21% to $14.4 billion [7] Business Model and Strategy - Marriott operates an asset-light business model focusing on management, franchising, and licensing, minimizing capital investment risks [4] - The company has a diverse portfolio with over 30 brands, appealing to various market segments and optimizing occupancy [5] - The loyalty program, Marriott Bonvoy, has nearly 228 million members, enhancing customer retention [5] Market Expansion and Performance - Marriott signed a record number of new deals, growing its pipeline to approximately 577,000 rooms [6] - Revenue per available room (RevPAR) increased by 5% globally, with international markets seeing a 7.2% growth [6] - The Greater China region experienced an 8% decline in RevPAR due to weak domestic demand [6][8] Sustainability Initiatives - The company is committed to sustainability through its "Serve 360" initiative, aiming for net-zero emissions by 2050 [9] Future Outlook - Marriott projects global RevPAR growth of 2%-4% and room growth of 4%-5% for the upcoming year [11] - Cost control initiatives are planned to reduce annual pre-tax general and administrative expenses by $80 million to $90 million starting in 2025 [11] - The focus on brand diversification and geographic growth remains pivotal for the company's strategy [12]

Marriott International (MAR) came out with quarterly earnings of $2.45 per share, beating the Zacks Consensus Estimate of $2.38 per share. This compares to earnings of $3.57 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.94%. A quarter ago, it was expected that this hotel company would post earnings of $2.31 per share when it actually produced earnings of $2.26, delivering a surprise of -2.16%.Over the last four quarters, t ...

NEWS Marriott International Reports Fourth Quarter and Full Year 2024 Results For a summary of fourth quarter and full year 2024 highlights, please visit: https://news.marriott.com/static-assets/component-resources/newscenter/earnings/2025/ce86e15d- fd4c-48b1-8ce5-44ad6a468787.pdf BETHESDA, MD – February 11, 2025 - Marriott International, Inc. (Nasdaq: MAR) today reported fourth quarter and full year 2024 results. "Looking ahead, I am incredibly optimistic about Marriott's future. With our unparalleled glob ...

Core Insights - Marriott International, Inc. reported strong performance in 2024, with a global RevPAR increase of 4.3% and net room growth of 6.8% to over 1.7 million rooms worldwide [2][12][16] - The company achieved record gross room additions of over 123,000 in 2024, contributing to a robust development pipeline of over 577,000 rooms [4][12][17] - The outlook for 2025 remains positive, with expected RevPAR growth of 2% to 4% and net room growth of 4% to 5% [20] Financial Performance - In Q4 2024, base management and franchise fees increased by 10% to $1,128 million compared to $1,026 million in Q4 2023 [7] - Adjusted operating income for Q4 2024 was $1,072 million, up from $992 million in Q4 2023, reflecting an 8% increase [12][42] - Reported net income for Q4 2024 was $455 million, a decrease from $848 million in Q4 2023, with diluted EPS at $1.63 compared to $2.87 in the prior year [11][15] Revenue Breakdown - Total revenues for Q4 2024 reached $6,429 million, a 5% increase from $6,095 million in Q4 2023 [31] - Cost reimbursement revenue for Q4 2024 was $4,704 million, up 6% from $4,418 million in Q4 2023 [31] - Owned, leased, and other revenue for Q4 2024 totaled $418 million, down 8% from $455 million in Q4 2023 [31] Development and Expansion - The company signed a record number of new deals in 2024, with a development pipeline of nearly 3,800 properties [4][17] - At year-end 2024, Marriott's global system included over 9,300 properties, with approximately 1,706,000 rooms [16][17] - The company enhanced its portfolio by entering the midscale segment and expanding non-traditional offerings [5] Shareholder Returns - Marriott returned over $4.4 billion to shareholders through dividends and share repurchases in 2024 [12] - The company repurchased 15.4 million shares for $3.7 billion throughout the year [19]

Marriott International, Inc. (MAR) is scheduled to release fourth-quarter 2024 results on Feb. 11, 2025, before the opening bell. In the previous quarter, the company’s earnings missed the Zacks Consensus Estimate by 2.2%.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.MAR’s Trend in Estimate RevisionThe Zacks Consensus Estimate for fourth-quarter bottom line is pegged at $2.38, indicating a decline of 33.3% from $3.57 reported in the year-ago quarter.For revenues, the consensus mar ...

The upcoming report from Marriott International (MAR) is expected to reveal quarterly earnings of $2.38 per share, indicating a decline of 33.3% compared to the year-ago period. Analysts forecast revenues of $6.4 billion, representing an increase of 5% year over year.The consensus EPS estimate for the quarter has undergone a downward revision of 0.7% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during th ...

The market expects Marriott International (MAR) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 11, 2025, might help the stock move higher if these ke ...