Marriott International(US:MAR) Prnewswireยท2025-02-11 12:00Core Insights - Marriott International, Inc. reported strong performance in 2024, with a global RevPAR increase of 4.3% and net room growth of 6.8% to over 1.7 million rooms worldwide [2][12][16] - The company achieved record gross room additions of over 123,000 in 2024, contributing to a robust development pipeline of over 577,000 rooms [4][12][17] - The outlook for 2025 remains positive, with expected RevPAR growth of 2% to 4% and net room growth of 4% to 5% [20] Financial Performance - In Q4 2024, base management and franchise fees increased by 10% to $1,128 million compared to $1,026 million in Q4 2023 [7] - Adjusted operating income for Q4 2024 was $1,072 million, up from $992 million in Q4 2023, reflecting an 8% increase [12][42] - Reported net income for Q4 2024 was $455 million, a decrease from $848 million in Q4 2023, with diluted EPS at $1.63 compared to $2.87 in the prior year [11][15] Revenue Breakdown - Total revenues for Q4 2024 reached $6,429 million, a 5% increase from $6,095 million in Q4 2023 [31] - Cost reimbursement revenue for Q4 2024 was $4,704 million, up 6% from $4,418 million in Q4 2023 [31] - Owned, leased, and other revenue for Q4 2024 totaled $418 million, down 8% from $455 million in Q4 2023 [31] Development and Expansion - The company signed a record number of new deals in 2024, with a development pipeline of nearly 3,800 properties [4][17] - At year-end 2024, Marriott's global system included over 9,300 properties, with approximately 1,706,000 rooms [16][17] - The company enhanced its portfolio by entering the midscale segment and expanding non-traditional offerings [5] Shareholder Returns - Marriott returned over $4.4 billion to shareholders through dividends and share repurchases in 2024 [12] - The company repurchased 15.4 million shares for $3.7 billion throughout the year [19]