Marriott International, Inc. (MAR) recently announced an agreement with New Development Group to open its second EDITION-branded hotel in Shanghai. The move underscores Marriott’s strategic focus on leveraging high-growth urban markets to strengthen its foothold in Greater China. The company looks forward to opening the property in 2026.Located on Suzhou Creek in the Putuo district, adjacent to Changfeng Park, the luxury lifestyle hotel will likely comprise 278 luxurious guest rooms, including three bespoke ...

In the past two years, Marriott International, Inc. (MAR) signed 26 agreements to bring its branded residential portfolio to iconic destinations in the Europe, Middle East & Africa (EMEA) region.Keeping its objective in focus, the company has been able to accelerate the growth of its residential portfolio in the region with 70 projects, comprising 43 projects in its signed pipeline and 27 open properties.Marriott’s Branded ResidencesMarriott’s residential portfolio offers 16 luxury and premium brands, provi ...

Austin, Texas, Nov. 20, 2024 (GLOBE NEWSWIRE) -- While the Austin Convention Center closes for four years, the hospitality industry is working now to ensure that the city maintains its viability as a group and convention center destination. White Lodging, with approximately 22% of the central business district hotel rooms in its portfolio, has the most to gain (and lose) during the closure. The AustinPlace Hotel Collection fills this temporary void by offering the largest collection of Marriott hotels in Te ...

SHANGHAI, Nov. 20, 2024 /PRNewswire/ -- Marriott International Inc. recently announced that it has signed an agreement with New Development Group to bring the second EDITION Hotels to Shanghai, set to open in 2026. Striking the perfect balance between taste-making design, excellent service, and an authentic connection to the locale, The Shanghai EDITION, Changfeng Park, aims to redefine the concept of luxury in the vibrant Putuo District. The Shanghai EDITION, Changfeng Park Standard King Room "Shangha ...

Underscoring the company's global leadership in branded residences and luxury development, Marriott International announces a strong residential pipeline in the EMEA region. ATHENS, Greece, Nov. 19, 2024 /PRNewswire/ -- Today at the Resort and Residential Forum, Marriott International (NASDAQ: MAR, "Marriott") announces its accelerated growth in its branded residential portfolio in the Europe, Middle East & Africa ("EMEA") region, with 70 projects in the portfolio, including 43 projects in its signed pipeli ...

Marking The Debut Of The Four Points Flex Brand In Asia Pacific, This Opening Underscores The Company's Strategic Growth In The Affordable Midscale Segment TOKYO, Nov. 18, 2024 /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR) reached a significant milestone in Japan today with the opening of its 100th property in Japan - Four Points Flex by Sheraton Osaka Umeda. This event also marks the inaugural debut of the Four Points Flex by Sheraton brand in Asia Pacific excluding China alongside global inve ...

ST. MICHAEL, Barbados, Nov. 05, 2024 (GLOBE NEWSWIRE) -- During the 2024 World Travel Market (WTM) in London, Blue Diamond Resorts is thrilled to announce that the eagerly awaited Royalton CHIC Barbados will join Marriott International’s distinguished Autograph Collection upon its opening as an adults-only retreat in Spring 2026. This exciting development follows the recent announcement of its debut and marks a significant step in delivering elevated, exclusive experiences to the Caribbean. This new propert ...

Marriott International, Inc. (NASDAQ:MAR) Q3 2024 Earnings Conference Call November 4, 2024 8:30 AM ET Company Participants Jackie McConagha - SVP, IR Anthony Capuano - President & CEO Leeny Oberg - CFO & EVP, Development Conference Call Participants Stephen Grambling - Morgan Stanley Shaun Kelley - Bank of America Patrick Scholes - Truist Securities Richard Clarke - Bernstein Robin Farley - UBS Joe Greff - JPMorgan Brandt Montour - Barclays David Katz - Jefferies Dan Politzer - Wells Fargo Michael Bellisar ...

Revenue Performance - Worldwide RevPAR increased by 3.0% in Q3 2024, driven by ADR growth of 2.5% and occupancy improvement of 0.3 percentage points[69] - For the first three quarters of 2024, worldwide RevPAR increased by 4.0%, with ADR growth of 2.7% and occupancy improvement of 0.9 percentage points[69] - In EMEA, RevPAR grew by 9.4% in the first three quarters of 2024, supported by events like the 2024 Paris Olympics[71] - RevPAR in Greater China declined by 2.7% in the first three quarters of 2024 due to lower domestic demand[71] - RevPAR for U.S. & Canada in 2024 is $178.12, up 3.1% from 2023, with occupancy at 70.2%, an increase of 0.4 percentage points[84] Room Growth and Development - The development pipeline includes approximately 585,000 rooms, with 38% under construction at the end of Q3 2024[77] - Full year 2024 net rooms growth is expected to be around 6.5%[82] - The company added over 77,200 net rooms in the first three quarters of 2024, including approximately 37,000 rooms from a licensing agreement with MGM Resorts[76] - Managed properties decreased by 2% year-over-year to 1,999 as of September 30, 2024[78] - Franchised properties increased by 7% year-over-year to 6,888 as of September 30, 2024[78] Financial Performance - Franchise fees increased by $64 million (9%) in Q3 2024 compared to Q3 2023, driven by unit growth and higher RevPAR[87] - Gross fee revenues rose to $1,283 million in Q3 2024, a 7% increase from $1,197 million in Q3 2023[87] - Owned, leased, and other revenue reached $381 million in Q3 2024, reflecting a 5% increase from $363 million in Q3 2023[89] - Cost reimbursement revenue increased by $226 million (5%) in Q3 2024, totaling $4,617 million compared to $4,391 million in Q3 2023[90] - General, administrative, and other expenses rose by 15% in Q3 2024, totaling $276 million, primarily due to higher guarantee reserves[93] - Interest expense increased by 23% in Q3 2024, amounting to $179 million, attributed to higher debt balances from Senior Notes issuances[96] - Provision for income taxes decreased by 15% in Q3 2024, totaling $(202) million, due to a decrease in pre-tax income[97] - Incentive management fees increased by $16 million (11%) in Q3 2024, reflecting higher profits at managed hotels[88] - Net fee revenues for Q3 2024 were $1,257 million, a 7% increase from $1,174 million in Q3 2023[87] Segment Performance - U.S. & Canada segment net fee revenues increased by $54 million (8%) to $728 million in Q3 2024 compared to Q3 2023, and by $106 million (5%) to $2,170 million for the first three quarters of 2024 compared to the same period in 2023[100] - EMEA segment net fee revenues rose by $11 million (8%) to $150 million in Q3 2024 and by $44 million (12%) to $415 million for the first three quarters of 2024 compared to the same periods in 2023[100] - Greater China segment net fee revenues decreased by $9 million (13%) to $62 million in Q3 2024 and by $10 million (5%) to $186 million for the first three quarters of 2024 compared to the same periods in 2023, primarily due to lower demand[102] - APEC segment net fee revenues grew by $12 million (18%) to $80 million in Q3 2024 and by $43 million (22%) to $239 million for the first three quarters of 2024 compared to the same periods in 2023[100] Cash and Capital Management - Total cash, cash equivalents, and restricted cash increased by $50 million to $416 million at September 30, 2024, primarily due to net cash provided by operating activities of $2,431 million[111] - Capital and technology expenditures for the first three quarters of 2024 totaled $408 million, with expectations of $1.1 billion to $1.2 billion for the full year 2024[112] - The company repurchased 4.5 million shares for $1.0 billion in Q3 2024, totaling 14.2 million shares repurchased for $3.4 billion year-to-date through October 31, 2024[113] - The company declared quarterly cash dividends of $0.52, $0.63, and $0.63 per share in 2024, with expectations to continue returning cash to stockholders[114] - The ratio of current assets to current liabilities was 0.4 to 1.0 at the end of Q3 2024, indicating significant borrowing capacity under the Credit Facility if additional working capital is needed[112] Tax and Regulatory Matters - Projected Deemed Repatriation Transition Tax payments under the 2017 Tax Cuts and Jobs Act totaled $135 million, payable within the next 12 months from September 30, 2024[116]

Marriott International MAR shares dropped Monday following third-quarter earnings that missed expectations. Despite a decline, the stock appears to have found support at a key price level, reflecting "market memory." Sometimes, a price level that had previously been resistance can turn into a support level months later, as you can see on the Marriott chart, which is why our team of technical analysts and traders has made it our Stock of the Day. In July, Marriott's stock was trending higher as demand outpac ...