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 ...

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 ...