Marriott International, Inc. (MAR) reported third-quarter 2024 results, with adjusted earnings and revenues missing the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.For the quarter, the company reported a solid increase in global travel demand, driving growth in international markets and steady performance in the United States and Canada. The company reported a rise in group bookings. Business ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Marriott International (MAR) came out with quarterly earnings of $2.26 per share, missing the Zacks Consensus Estimate of $2.31 per share. This compares to earnings of $2.11 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -2.16%. A quarter ago, it was expected that this hotel company would post earnings of $2.49 per share when it actually produced earnings of $2.50, delivering a surprise of 0.40%. Over the last four quarters, ...

Financial Performance - Third quarter 2024 comparable systemwide constant dollar RevPAR increased 3.0% worldwide, 2.1% in the U.S. & Canada, and 5.4% in international markets compared to the 2023 third quarter[1] - Third quarter reported net income totaled $584 million, compared to $752 million in the year-ago quarter, while adjusted net income was $638 million, up from $634 million in Q3 2023[1] - Adjusted EBITDA for Q3 2024 totaled $1,229 million, compared to $1,142 million in Q3 2023[1] - Total revenues for Q3 2024 increased by 6% to $6.255 billion compared to $5.928 billion in Q3 2023[32] - Net income for Q3 2024 decreased by 22% to $584 million from $752 million in Q3 2023[32] - Gross fee revenues grew by 7% to $1.283 billion in Q3 2024, up from $1.197 billion in Q3 2023[32] - Adjusted operating income for Q3 2024 increased by 6% to $1.017 billion compared to $959 million in Q3 2023[35] - Year-to-date total revenues for 2024 increased by 6% to $18.671 billion from $17.618 billion in 2023[33] - Adjusted diluted earnings per share for Q3 2024 rose by 7% to $2.26 from $2.11 in Q3 2023[35] - Franchise fees increased by 9% to $812 million in Q3 2024, up from $748 million in Q3 2023[32] - Cost reimbursement revenue grew by 5% to $4.617 billion in Q3 2024 from $4.391 billion in Q3 2023[32] - Adjusted net income for Q3 2024 was $638 million, a 1% increase from $634 million in Q3 2023[35] - Year-to-date net income for 2024 decreased by 14% to $1.920 billion from $2.235 billion in 2023[33] - Adjusted EBITDA for the first quarter of 2024 is $1,142 million, a 4% increase from 2023[53] - Adjusted EBITDA for the second quarter of 2024 is $1,324 million, a 9% increase from 2023[53] - Adjusted EBITDA for the third quarter of 2024 is $1,229 million, an 8% increase from 2023[53] - Net income for the full year 2023 was $3,083 million, with Q4 contributing $848 million[54] - Adjusted EBITDA for 2023 was $4,656 million, with Q4 at $1,197 million[54] - Adjusted EBITDA forecast for Q4 2024 is estimated between $1,235 million and $1,265 million, representing a 3% to 6% increase over 2023[56] - Full-year 2024 Adjusted EBITDA is projected to be between $4,930 million and $4,960 million, a 6% to 7% increase compared to 2023[59] - Interest expense for 2023 totaled $565 million, with Q4 at $153 million[54] - Stock-based compensation for 2023 was $205 million, with Q4 at $58 million[54] - Depreciation and amortization for 2023 amounted to $189 million, with Q4 at $51 million[54] - Contract investment amortization for 2023 was $88 million, with Q4 at $22 million[54] - Reimbursed expenses for 2023 totaled $17,424 million, with Q4 at $4,684 million[54] - Cost reimbursement revenue for 2023 was $17,413 million, with Q4 at $4,418 million[54] Room and Property Statistics - The company added approximately 16,000 net rooms during the quarter, with a global development pipeline of 3,800 properties and 585,000 rooms, including 220,000 rooms under construction[1][19] - Total worldwide rooms managed by the company reached 572,731, with 1,999 properties globally[38] - Marriott Hotels has the highest number of worldwide rooms at 115,563, followed by Sheraton with 82,202 rooms[38] - Franchised, licensed, and other properties account for 1,074,361 rooms globally, with Courtyard leading at 146,105 rooms[39] - Fairfield by Marriott has the highest number of franchised rooms in the US & Canada at 109,712[39] - The Luxury Collection has 18,021 rooms globally, with 57 properties internationally[39] - MGM Collection with Marriott Bonvoy contributes 26,210 rooms, all located in the US & Canada[39] - Timeshare properties account for 22,750 rooms globally, with 72 properties in the US & Canada[39] - The Ritz-Carlton Residences have 6,548 rooms globally, with 43 properties in the US & Canada[39] - Total worldwide rooms across all categories reached 1,674,600, with 9,068 properties globally[39] - The Ritz-Carlton Yacht Collection has 377 rooms, with 2 properties internationally[39] - Total worldwide rooms across all properties reached 1,674,600, with 9,068 properties globally[40] RevPAR Performance - Global group RevPAR rose 10% in Q3 2024, with business transient RevPAR growing and leisure transient RevPAR flat year-over-year but above pre-pandemic levels[5] - JW Marriott's REVPAR increased by 4.6% to $196.53, with occupancy rising by 0.8 percentage points to 68.0%[41] - The Ritz-Carlton achieved a REVPAR of $313.99, up 2.9%, with occupancy increasing by 1.4 percentage points to 65.0%[41] - Marriott Hotels reported a REVPAR growth of 4.7% to $176.08, with occupancy at 73.1%[41] - Sheraton's REVPAR rose by 3.5% to $157.87, with occupancy up by 0.4 percentage points to 68.8%[41] - Westin's REVPAR increased by 4.0% to $179.99, with occupancy at 72.8%[41] - Courtyard's REVPAR grew by 1.9% to $115.31, with occupancy at 68.9%[41] - Residence Inn's REVPAR rose by 2.3% to $156.31, with occupancy reaching 79.4%[41] - Composite US & Canada Select REVPAR increased by 2.0% to $128.40, with occupancy at 72.5%[41] - US & Canada All REVPAR grew by 3.1% to $174.62, with occupancy at 71.1%[41] - JW Marriott's REVPAR for 2024 is $192.02, showing a 2.6% increase compared to 2023[42] - The Ritz-Carlton's REVPAR for 2024 is $316.26, with a 3.6% increase compared to 2023[42] - W Hotels' REVPAR for 2024 is $222.40, showing a slight 0.4% increase compared to 2023[42] - Marriott Hotels' REVPAR for 2024 is $148.62, with a 4.4% increase compared to 2023[42] - Sheraton's REVPAR for 2024 is $134.43, showing a 3.7% increase compared to 2023[42] - Westin's REVPAR for 2024 is $162.21, with a 3.5% increase compared to 2023[42] - Courtyard's REVPAR for 2024 is $118.76, showing no change compared to 2023[42] - Residence Inn's REVPAR for 2024 is $140.50, with a 1.6% increase compared to 2023[42] - Fairfield by Marriott's REVPAR for 2024 is $101.66, showing a slight 0.6% decrease compared to 2023[42] - US & Canada - All REVPAR for 2024 is $136.15, with a 2.1% increase compared to 2023[42] - Europe's REVPAR for 2024 is $265.98, showing a 9.2% increase compared to 2023[47] - Middle East & Africa's REVPAR for 2024 is $98.15, with a 7.2% increase compared to 2023[47] - Greater China's REVPAR for 2024 is $84.71, reflecting an 8.4% decrease compared to 2023[47] - Asia Pacific excluding China's REVPAR for 2024 is $115.85, up 8.9% compared to 2023[47] - Caribbean & Latin America's REVPAR for 2024 is $140.89, showing a 9.0% increase compared to 2023[47] - International - All REVPAR for 2024 is $120.81, with a 3.7% increase compared to 2023[47] - Worldwide REVPAR for 2024 is $143.66, up 3.4% compared to 2023[47] Shareholder Returns and Debt - Marriott repurchased 4.5 million shares of common stock for $1.0 billion in Q3 2024, with $3.9 billion returned to shareholders year-to-date through dividends and share repurchases[1] - Marriott's total debt at the end of Q3 2024 was $13.6 billion, with cash and equivalents of $0.4 billion, compared to $11.9 billion in debt and $0.3 billion in cash at year-end 2023[21] Growth and Cost Reduction Initiatives - The company expects full-year 2024 net rooms growth to be around 6.5%, with a comprehensive initiative expected to yield $80-90 million in annual cost reductions starting in 2025[7][8] - Base management and franchise fees totaled $1,124 million in Q3 2024, a 7% increase compared to $1,054 million in Q3 2023[9] - The company expects full-year 2024 adjusted EBITDA to be between $4,930 million and $4,960 million, with adjusted diluted EPS projected at $9.19 to $9.27[25]

Third quarter 2024 comparable systemwide constant dollar RevPAR increased 3.0 percent worldwide, 2.1 percent in the U.S. & Canada, and 5.4 percent in international markets, compared to the 2023 third quarter; Third quarter reported diluted EPS totaled $2.07, compared to reported diluted EPS of $2.51 in the year-ago quarter. Third quarter adjusted diluted EPS totaled $2.26, compared to third quarter 2023 adjusted diluted EPS of $2.11; Third quarter reported net income totaled $584 million, compared to report ...

Marriott International, Inc. (MAR) is scheduled to release third-quarter 2024 results on Nov. 4, before the opening bell.In the last reported quarter, the company’s earnings marginally beat the Zacks Consensus Estimate by 0.4% while revenues missed the same by 0.9%.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Marriott’s earnings topped the consensus mark in three of the trailing four quarters and missed on the remaining occasion, with the average surprise being 16.9%.MAR’s Trend ...

Wall Street analysts forecast that Marriott International (MAR) will report quarterly earnings of $2.31 per share in its upcoming release, pointing to a year-over-year increase of 9.5%. It is anticipated that revenues will amount to $6.28 billion, exhibiting an increase of 6% compared to the year-ago quarter. Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this perio ...

The market expects Marriott International (MAR) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 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 stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected ...

Core Insights - Marriott International has opened its 500th property in the Caribbean and Latin America region, specifically the Almare, a Luxury Collection Resort, Isla Mujeres, Adult All-Inclusive, highlighting the company's growth in the luxury segment [2][3] - The new resort represents Marriott's first luxury all-inclusive offering in Mexico and expands its Luxury Collection brand to four properties in the country, reinforcing its presence in the high-demand market of Isla Mujeres [3][4] Company Expansion - Over the past three years, Marriott's portfolio in the Caribbean and Latin America has increased from 300 to 500 properties, with approximately 10% of its global luxury portfolio located in this region [3] - The Almare resort is the 62nd luxury property for Marriott's Luxury Group, which includes renowned brands such as The Ritz-Carlton and JW Marriott [4] All-Inclusive Segment Growth - Since entering the all-inclusive segment in 2019, Marriott has expanded to 35 all-inclusive properties, focusing on providing authentic luxury experiences for sophisticated travelers [5] - The Almare resort features 109 suites with ocean views, multiple dining venues, a spa, and an infinity pool, catering to the luxury market [6] Booking and Loyalty Program - The Almare resort is available for booking on Marriott's website and participates in the Marriott Bonvoy travel program, allowing members to earn and redeem points [7]

Marriott International, Inc. (MAR) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, MAR's 50-day simple moving average crossed above its 200-day simple moving average, known as a "golden cross." A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common moving a ...