The region continued meaningful expansion across all segments from midscale to all-inclusive, and residential to luxury; conversions remained a main driver of growth.PLANTATION, Fla., Feb. 26, 2024 /PRNewswire/ -- Following its recent announcement of strong global net rooms growth and a record year of global rooms signings, Marriott International today announced a year of robust room signings and additions across the Caribbean and Latin America (CALA) in 2023. The company nearly doubled its number of organi ...

Marriott International (MAR) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this hotel company have returned +2.3%, compared to the Zacks S&P 500 composite's +3.1% change. During this period, the Zacks Hotels and Motels industry, which Marriott falls in, has gained 5.8%. The key question now is: What could be the stock's future direction?While media rele ...

Marriott International, Inc. (MAR) reported fourth-quarter 2023 results, wherein earnings surpassed the Zacks Consensus Estimate but revenues missed the same. The top and bottom lines increased on a year-over-year basis. The upside was backed by solid leisure demand and recovery in business transient and group demand. It also benefited from its fee-driven, asset-light business model.The company reported strength in The Marriott Bonvoy loyalty program, comprising 196 million members as of 2023-end. It expand ...

Key TakeawaysMarriott International Inc.'s fourth-quarter revenue missed estimates Tuesday as the post-pandemic travel boom eased.Marriott's North American revenue for the fourth quarter rose 3.3%, while international sales were up 17.4%.Marriott's current-quarter and full-year outlooks were below estimates.At midday Tuesday, Marriott stock was down about 6.3%.Marriott International Inc. (MAR) shares dropped Tuesday as the big hotel chain missed sales forecasts and gave weaker-than-expected guidance amid sl ...

Financial Data and Key Metrics - Global RevPAR increased by over 7% YoY in Q4 2023, driven by equal gains in ADR and occupancy [6] - Full-year global RevPAR rose nearly 15% in 2023, with net rooms growing by 4.7% [6] - Group revenues rose 9% globally and 7% in the US and Canada in Q4 2023 [7] - Leisure transient revenues in Q4 2023 were nearly 50% above the same quarter in 2019 [7] - Business transient revenues grew 7% globally and 3% in the US and Canada in Q4 2023 [8] - Marriott Bonvoy loyalty program reached over 196 million members by the end of 2023 [9] Business Line Data and Key Metrics - Group segment accounted for 23% of room nights in Q4 2023, with 2024 Group revenues pacing up nearly 13% globally and 11% in the US and Canada [7] - Leisure transient accounted for 44% of global room nights in Q4 2023, with global leisure transient revenues up 6% YoY [7][8] - Business transient contributed 33% of global room nights in Q4 2023, with demand from small and medium-sized corporates remaining robust [8] Market Data and Key Metrics - US and Canada RevPAR increased over 3% YoY in Q4 2023, while international RevPAR rose 17% [14] - Greater China RevPAR rose 81% in Q4 2023, driven by easy comparisons to COVID lockdowns in the year-ago quarter [14] - Asia Pacific RevPAR (excluding China) grew 13% in Q4 2023 [14] Company Strategy and Industry Competition - Marriott signed a record 891 organic management, franchise, and license agreements in 2023, representing approximately 164,000 rooms [10] - The company expects net rooms growth of 5.5% to 6% in 2024, including around 37,000 rooms from MGM [10] - Marriott is making significant progress in the high-growth mid-scale space, with over 300 potential deals under discussion in the US [11][12] - The company's luxury distribution is over 50% larger than its closest competitor, with record luxury signings in 2023 [12] Management Commentary on Operating Environment and Future Outlook - Demand for all types of travel remains strong, with the fundamentals for the industry described as outstanding [13] - For 2024, Marriott anticipates global RevPAR growth of 3% to 5%, with higher growth expected in international markets, particularly in Asia Pacific [19][20] - The company expects gross fees to rise 6% to 8% in 2024, driven by strong credit card and residential branding fee growth [20][21] Other Important Information - Marriott's digital channels, particularly the Marriott Bonvoy app, contributed 22% more room nights in 2023 than in the prior year [9] - The company's co-branded credit cards saw record global card member acquisitions in 2023, with card spend growing 11% [9] - Marriott expects to return between $4.1 billion and $4.3 billion in capital to shareholders in 2024 [23] Q&A Session Summary Question: MGM Transaction and Fee Contributions [26] - The MGM transaction will contribute modest G&A costs in Q1 2024, with business expected to ramp up over the year [27] Question: Development Environment and Construction Costs [31] - Marriott is seeing strong momentum in new build projects and conversions, with expectations of continued relief on interest rates in the back half of 2024 [32][34] - Construction costs have come down slightly, but the availability of debt for new construction remains a key focus [34] Question: Core Metrics and EPS Outlook [36] - The lower EPS outlook for 2024 is primarily due to a higher book tax rate and the impact of a large termination fee in 2023 [37] Question: Large Corporate Group Bookings [38] - Large corporate transient demand continues to lag pre-pandemic levels, but incremental growth is being seen quarter-over-quarter [39] - Group bookings for 2024 are pacing up 11% in the US and Canada, with 75% of expected group business already on the books [41] Question: SG&A Costs and Bad Debt [43] - Higher SG&A costs in Q4 2023 were due to timing issues, including a litigation reserve and performance-related compensation [44] Question: RevPAR and Unit Growth Guidance [45] - Marriott remains confident in its three-year net rooms CAGR of 5% to 5.5% from 2022 to 2025 [46] Question: Room Growth vs. Fee Growth [51] - The fundamental model of RevPAR plus fees continues to work well, with strong IMF growth expected in 2024 [52] Question: Mid-Scale Development and Owner Profile [69][81] - Marriott is enthusiastic about its mid-scale development, with strong demand and a mix of existing and new franchisees [72][82] Question: Credit Card Fee Growth [88] - Credit card fee growth in 2024 is expected to be driven primarily by new card sign-ups, with overall non-RevPAR fees expected to grow 9% to 10% [89][90] Question: Unit Growth Acceleration [92] - Marriott expects net rooms growth to accelerate in 2024, with conversions accounting for 30% of expected openings [96]

Marriott International (MAR) reported $6.1 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 2.9%. EPS of $3.57 for the same period compares to $1.96 a year ago.The reported revenue represents a surprise of -3.61% over the Zacks Consensus Estimate of $6.32 billion. With the consensus EPS estimate being $2.12, the EPS surprise was +68.40%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to ...

Marriott International (MAR) came out with quarterly earnings of $3.57 per share, beating the Zacks Consensus Estimate of $2.12 per share. This compares to earnings of $1.96 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 68.40%. A quarter ago, it was expected that this hotel company would post earnings of $2.10 per share when it actually produced earnings of $2.11, delivering a surprise of 0.48%.Over the last four quarters, t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 1-13881 MARRIOTT INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Delaware 52-2055918 (State or other jurisdiction of incorpo ...

CNBC's Jim Cramer on Friday prepared investors for next week on Wall Street, saying investors should pay attention as earnings season continues, with reports from companies including Shopify, Marriott and Wendy's.He also recommended researching retail stocks next week before the industry reports a slew of earnings results the week after."Next week seems busy, but, you know what, it's a classic interregnum — Google that — before we get to retail earnings," Cramer said. "Remember, those heavy earnings weeks a ...

BETHESDA, Md., Feb. 8, 2024 /PRNewswire/ -- Marriott International, Inc. (Nasdaq: MAR) today announced that its board of directors declared a quarterly cash dividend of 52 cents per share of common stock. The dividend is payable on March 29, 2024, to shareholders of record as of the close of business on February 22, 2024. Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 8,800 properties across more than 30 leading brands in 139 countries a ...