Marriott International, Inc MAR reported weaker-than-expected revenue for its second quarter on Wednesday.The company reported second-quarter adjusted earnings per share of $2.50, beating the street view of $2.47. Quarterly sales of $6.439 billion missed the analyst consensus of $6.483 billion.International RevPAR rose over 7%, driven by a notable 13% increase in Asia Pacific (excluding China) compared to the previous year.Anthony Capuano, President and Chief Executive Officer, said, "Marriott reported stro ...

Key TakeawaysMarriott International lowered the upper end of its 2024 revenue per available room guidance when it reported second-quarter earnings Wednesday.The hotel chain noted a weaker operating environment in China and telegraphed softer expectations in the U.S. and Canada.Shares fell to their lowest level since January. Marriott International’s (MAR) second-quarter results Wednesday came with disappointing revenue per available room (revPAR) guidance, sending the huge hotel company's shares sharply low ...

Marriott International, Inc. (MAR) reported mixed second-quarter 2024 results, with adjusted earnings beating the Zacks Consensus Estimate and revenues missing the same. The bottom and top lines increased on a year-over-year basis.The quarterly results benefited from a solid increase in global travel demand, reflecting worldwide revenue per available room (RevPAR) growth. International RevPAR gained from solid contributions from Asia Pacific, excluding China, while U.S. & Canada RevPAR benefited from growth ...

Part I. Financial Information [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents unaudited condensed consolidated financial statements for Q2 and H1 2024, showing revenue growth, net income changes, and key financial positions Condensed Consolidated Statements of Income (Q2 & H1 2024 vs 2023) | Indicator (in millions, except per share) | Q2 2024 | Q2 2023 | H1 2024 | H1 2023 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | **$6,439** | **$6,075** | **$12,416** | **$11,690** | | Gross Fee Revenues | $1,343 | $1,250 | $2,553 | $2,383 | | Net Fee Revenues | $1,316 | $1,228 | $2,503 | $2,340 | | **Operating Income** | **$1,195** | **$1,096** | **$2,071** | **$2,047** | | **Net Income** | **$772** | **$726** | **$1,336** | **$1,483** | | Diluted Earnings Per Share | $2.69 | $2.38 | $4.62 | $4.81 | Condensed Consolidated Balance Sheets (As of June 30, 2024) | Account (in millions) | June 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | **$25,740** | **$25,674** | | Cash and equivalents | $349 | $338 | | Goodwill | $8,783 | $8,886 | | **Total Liabilities** | **$27,831** | **$26,356** | | Long-term debt | $12,183 | $11,320 | | Liability for guest loyalty program | $7,325 | $7,006 | | **Total Stockholders' Deficit** | **($2,091)** | **($682)** | Condensed Consolidated Statements of Cash Flows (Six Months Ended June 30) | Cash Flow Activity (in millions) | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $1,551 | $1,538 | | Net cash used in investing activities | ($225) | ($243) | | Net cash used in financing activities | ($1,322) | ($1,241) | | **Increase in Cash and Equivalents** | **$4** | **$54** | - Beginning in Q1 2024, the company modified its segment structure to **four reportable segments**: U.S. & Canada, EMEA, Greater China, and APEC, with CALA now in 'Unallocated corporate and other'[44](index=44&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=14&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's Q2 2024 performance, emphasizing a **4.9% increase in worldwide RevPAR**, robust international growth, continued net room expansion, strong liquidity, and significant capital returns Comparable Systemwide RevPAR Growth (vs. Prior Year) | Region | Q2 2024 Change | H1 2024 Change | | :--- | :--- | :--- | | **Worldwide** | **+4.9%** | **+4.5%** | | U.S. & Canada | +3.9% | +2.8% | | International - All | +7.4% | +9.0% | | EMEA | +12.0% (combined) | +11.8% (combined) | | Greater China | -4.2% | +0.4% | | APEC | +13.0% | +14.8% | | CALA | +8.6% | +10.3% | - The company's development pipeline included approximately **3,500 hotels** with over **559,000 rooms** at the end of Q2 2024, with over **209,000 rooms (37%) under construction**[65](index=65&type=chunk) - Full-year 2024 net rooms growth is projected to be between **5.5% and 6.0%**[66](index=66&type=chunk) - In Q2 2024, franchise fees increased by **11% to $818 million**, driven by unit growth, higher RevPAR, and a **$28 million increase** in non-RevPAR related franchise fees[73](index=73&type=chunk)[74](index=74&type=chunk) - The company repurchased **4.1 million shares for $1.0 billion** in Q2 2024 and a total of **10.4 million shares for $2.5 billion** year-to-date through July 29, 2024[93](index=93&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=21&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports no material changes to its market risk exposure since the end of fiscal year 2023, referring to its 2023 Form 10-K for detailed information - There have been **no material changes** to the company's market risk exposure since **December 31, 2023**[96](index=96&type=chunk) [Controls and Procedures](index=22&type=section&id=Item%204.%20Controls%20and%20Procedures) The CEO and CFO concluded that disclosure controls and procedures were effective as of June 30, 2024, with no material changes to internal control over financial reporting during Q2 - Management, including the CEO and CFO, concluded that disclosure controls and procedures were **effective** as of the end of the quarter[97](index=97&type=chunk) - **No material changes** were made to the internal control over financial reporting during the **second quarter of 2024**[98](index=98&type=chunk) Part II. Other Information [Legal Proceedings](index=23&type=section&id=Item%201.%20Legal%20Proceedings) This section details ongoing litigation and government investigations related to the **2018 Starwood Data Security Incident**, noting the company's defense efforts and the immaterial impact of other ordinary course legal proceedings - The company is involved in ongoing litigation and government investigations related to the **2018 Starwood Data Security Incident**, as detailed in Note 5 of the financial statements[30](index=30&type=chunk)[31](index=31&type=chunk)[100](index=100&type=chunk) - The company believes it has reached a resolution with the **Federal Trade Commission** and is progressing in discussions with **49 state Attorneys General** regarding the Data Security Incident, with an immaterial accrual for estimated loss contingency[31](index=31&type=chunk) [Risk Factors](index=23&type=section&id=Item%201A.%20Risk%20Factors) The company reports **no material changes** to the risk factors previously disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 - There are **no material changes** to the risk factors disclosed in the **2023 Form 10-K**[101](index=101&type=chunk) [Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=23&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company reports no unregistered sales of equity securities and details its **Q2 2024 common stock repurchases**, totaling **4.1 million shares for approximately $1.0 billion** Issuer Purchases of Equity Securities (Q2 2024) | Period | Total Shares Purchased (millions) | Average Price per Share | | :--- | :--- | :--- | | April 2024 | 1.4 | $247.56 | | May 2024 | 1.4 | $236.53 | | June 2024 | 1.3 | $236.57 | | **Total Q2** | **4.1** | **~ $240.22** | [Other Information](index=23&type=section&id=Item%205.%20Other%20Information) The company confirms that no director or Section 16 officer adopted or terminated any Rule 10b5-1 trading plans or other non-Rule 10b5-1 trading arrangements during Q2 2024 - **No director or Section 16 officer** adopted or terminated any **Rule 10b5-1 plans** or **non-Rule 10b5-1 trading arrangements** during **Q2 2024**[103](index=103&type=chunk) [Exhibits](index=24&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including the First Amendment to the Credit Agreement, CEO and CFO certifications, and financial statements in Inline XBRL format - Filed exhibits include **CEO and CFO certifications (31.1, 31.2)**, **Section 1350 certifications (32)**, and financial data in **Inline XBRL format (101)**[106](index=106&type=chunk)

Marriott International (MAR) came out with quarterly earnings of $2.50 per share, beating the Zacks Consensus Estimate of $2.49 per share. This compares to earnings of $2.26 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.40%. A quarter ago, it was expected that this hotel company would post earnings of $2.17 per share when it actually produced earnings of $2.13, delivering a surprise of -1.84%.Over the last four quarters, t ...

NEWS Marriott International Reports Second Quarter 2024 Results • Second quarter 2024 comparable systemwide constant dollar RevPAR increased 4.9 percent worldwide, 3.9 percent in the U.S. & Canada, and 7.4 percent in international markets, compared to the 2023 second quarter; • Second quarter reported diluted EPS totaled $2.69, compared to reported diluted EPS of $2.38 in the year-ago quarter. Second quarter adjusted diluted EPS totaled $2.50, compared to second quarter 2023 adjusted diluted EPS of $2.26; • ...

Second quarter 2024 comparable systemwide constant dollar RevPAR increased 4.9 percent worldwide, 3.9 percent in the U.S. & Canada, and 7.4 percent in international markets, compared to the 2023 second quarter;Second quarter reported diluted EPS totaled $2.69, compared to reported diluted EPS of $2.38 in the year-ago quarter. Second quarter adjusted diluted EPS totaled $2.50, compared to second quarter 2023 adjusted diluted EPS of $2.26;Second quarter reported net income totaled $772 million, compared to re ...

New initiative furthers company's commitment to anti-trafficking and survivor empowermentBETHESDA, Md., July 30, 2024 /PRNewswire/ -- At the AHLA Foundation's third annual No Room for Trafficking (NRFT) Summit in connection with World Day Against Trafficking in Persons, Marriott International, Inc. announced the pilot launch of HotelHelp, a rooms donation program for survivors of human trafficking. HotelHelp currently works with Marriott's portfolio of hotels that are willing to donate short-term emergency ...

Marriott International, Inc. (MAR) is scheduled to release second-quarter 2024 results on Jul 31, before the opening bell.In the last quarter, the company’s earnings missed the Zacks Consensus Estimate by 1.8% while the revenues marginally surpassed the same by 0.1%.Marriott’s earnings topped the consensus mark in three of the trailing four quarters and missed on the remaining occasion, the average surprise being 17.6%.The Trend in Estimate RevisionThe Zacks Consensus Estimate for second-quarter earnings pe ...

Wall Street analysts expect Marriott International (MAR) to post quarterly earnings of $2.49 per share in its upcoming report, which indicates a year-over-year increase of 10.2%. Revenues are expected to be $6.44 billion, up 6% from the year-ago quarter.Over the last 30 days, there has been an upward revision of 0.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this ...