Welcome to our dedicated page for Marriot International news (Ticker: MAR), a resource for investors and traders seeking the latest updates and insights on Marriot International stock.
Marriott International (Symbol: MAR) is the world's leading hotel company, headquartered in Bethesda, Maryland, USA. With an impressive portfolio of nearly 8,900 properties across over 30 top-tier brands in 141 countries and territories, Marriott offers a diverse range of accommodations from luxury resorts to midscale hotels. Founded in 1927 by J. Willard and Alice S. Marriott as a root beer stand, the company has grown exponentially to become a giant in the hospitality industry, reporting revenues of nearly $14 billion in fiscal year 2015.
Marriott operates and franchises hotels and licenses vacation ownership resorts. The company's core business includes managing and franchising hotels across the globe, a model that allows it to maintain a robust presence with minimal asset ownership risk. As of the end of 2023, Marriott managed and franchised 97% of its total rooms. Its most prominent brands include Marriott, Courtyard, and Sheraton, while newer lifestyle brands such as Autograph Collection, Tribute Portfolio, Moxy, Aloft, and Element add contemporary flair to its offerings.
The company continues to demonstrate strong financial performance and growth. In 2023, global RevPAR (Revenue per Available Room) rose by 15%, while net rooms grew by 4.7%. The fee-driven, asset-light business model enabled record cash generation. Marriott Bonvoy, the company’s loyalty program, has 196 million members, contributing significantly to the company's revenue. Additionally, Marriott has strategically expanded its credit card offerings, with 31 co-brand cards across 11 countries.
Recent news highlights include the record addition of 81,300 rooms to its portfolio in 2023, driven by a significant deal with MGM Resorts International adding 37,000 rooms. The development pipeline also reached a new high with roughly 573,000 rooms at year-end. Marriott’s presence in the Caribbean and Latin America (CALA) saw substantial growth, adding over 170 properties and signing nearly 7,300 rooms in 2023.
Marriott’s financial condition remains strong with a disciplined approach to debt and shareholder returns. In 2023, the company repurchased shares worth $3.9 billion and aims to return $4.1 billion to $4.3 billion to shareholders in 2024. The company’s commitment to innovation and sustainability, as shown by the launch of the City Express by Marriott in the affordable midscale segment, ensures continued growth and adaptation to market trends.
Marriott International has consistently been recognized for its superior business ethics and as a top employer. It maintains a strong commitment to diversity and inclusion, providing equal employment opportunities and fostering an inclusive culture. For more information, visit marriott.com and marriottnewscenter.com.
Design Hotels announced significant portfolio growth with 29 new signed agreements and 10% expansion in the last 12 months. The company is experiencing notable momentum in the United States and Mexico, adding 7 new destinations and 10 new hotels in the US, while surpassing 25 hotels in Mexico. Key additions include The Warren Street Hotel in NYC, Drift Nashville with 104 rooms, and upcoming properties in Switzerland, Georgia, Istanbul, Singapore, and Bali. The expansion includes partnerships with renowned hotel groups like Firmdale Hotels, Grupo Habita, Drift Hotels, and ASH.
Marriott International (Nasdaq: MAR) has declared a quarterly cash dividend of 63 cents per share of common stock. The dividend will be paid on December 31, 2024, to shareholders of record as of November 21, 2024. The company currently operates a portfolio of nearly 9,100 properties across more than 30 brands in 142 countries and territories, offering hotel operations, franchising, and vacation ownership resort licensing services worldwide.
The Ritz-Carlton, Naples announces its inaugural NYE Black-Tie Gala, featuring internationally acclaimed jazz artist Stella Cole. The exclusive event includes a five-course champagne dinner by Executive Chef Satish Yerramilli, an intimate 'Meet the Artist' reception, and two live performances culminating in a midnight countdown.
The gala offers multiple ticket tiers: Premiere Seating at $650 per person with caviar pairing, Reserved Seating at $525 per person, and Large Table Reservations from $500 per person. All packages include taxes, gratuity, valet parking, and a complimentary autographed album. A special overnight stay package is available with Coastal View Guestroom accommodation and two gala tickets.
Marriott International (MAR) reported solid Q3 2024 results with global RevPAR up 3.0%. The company's adjusted diluted EPS reached $2.26, compared to $2.11 in Q3 2023. Net income was $584 million, down from $752 million year-over-year. Notable achievements include adding 16,000 net rooms and maintaining a development pipeline of 585,000 rooms. The company's group segment showed strong performance with RevPAR rising 10%. Marriott expects full-year 2024 net rooms growth of approximately 6.5% and plans to return about $4.4 billion to shareholders through dividends and share repurchases.
Marriott International (NASDAQ: MAR) announced the opening of its 500th property in the Caribbean and Latin America region with the Almare, a Luxury Collection Resort in Isla Mujeres, Mexico. This adults-only, all-inclusive luxury resort marks Marriott's first luxury all-inclusive property in Mexico and features 109 ocean-view suites, seven dining venues, and a spa. The milestone highlights Marriott's significant regional growth from 300 to 500 properties in three years, with approximately 10% of its global luxury portfolio now in CALA. The company plans further expansion with upcoming properties including Paraiso de la Bonita in Mexico and W Punta Cana in Dominican Republic.
MGM Resorts International (NYSE: MGM) and Marriott International, Inc. (Nasdaq: MAR) have announced plans to convert an iconic property on the Las Vegas Strip to W Las Vegas, part of the W Hotels brand within the Marriott Bonvoy® portfolio. This conversion, anticipated to complete later this year, is the latest step in the companies' long-term strategic licensing agreement announced in July 2023.
Since the MGM Collection with Marriott Bonvoy officially launched in March 2024, bookings have significantly outpaced projections. The collaboration allows Marriott Bonvoy's 200 million members to enjoy benefits and redeem points at MGM Resorts' destinations, while MGM Rewards members can status match and receive benefits at Marriott's global portfolio of approximately 9,000 properties.
Located on the Mandalay Bay Campus, W Las Vegas will be the 12th destination on the Las Vegas Strip within the MGM Collection with Marriott Bonvoy, joining properties such as Bellagio, ARIA Resort & Casino, and The Cosmopolitan of Las Vegas.
Marriott International has announced the global launch of Connect Responsibly with Marriott Bonvoy Events, a program designed to help meeting planners incorporate sustainability into their events at participating Marriott Bonvoy portfolio hotels. The program, set to go live globally by the end of October, will offer:
- Detailed Meeting Impact Reports to measure the environmental impact of events
- Options to purchase carbon credits
The Meeting Impact Report will capture event details, property-specific sustainability practices, and the event's carbon and water footprints. In collaboration with South Pole, Marriott will offer access to select carbon offset projects. This initiative supports Marriott's efforts to reduce greenhouse gas emissions and aligns with its Sustainability and Social Impact Platform, Serve 360.
Marriott International signed an agreement with Shum Yip Holdings Company to introduce The Luxury Collection and AC Hotels to Shenzhen, China. The Luxury Collection Hotel, expected to open in November 2028, will offer 173 guest rooms and suites, dining venues, recreational facilities, and 1,600 square meters of event space. AC Hotel by Marriott Shenzhen North Station will feature 207 rooms and suites, an all-day dining restaurant, and the AC Lounge.
Both hotels will be located near Shenzhen North Railway Station, providing easy access to high-speed rail lines and about 35 kilometers from Shenzhen Bao'an International Airport. This collaboration adds to Marriott's existing portfolio of over 20 properties across 13 brands in Shenzhen, strengthening its presence in southern China.
Marriott International (Nasdaq: MAR) has announced the release date for its third quarter 2024 earnings report. The company will disclose its financial results on Monday, November 4, 2024, at approximately 7:00 a.m. Eastern Time. A conference call for investors will follow at 8:30 a.m. ET, featuring President and CEO Anthony Capuano and CFO Leeny Oberg discussing the company's performance.
The call will be webcast on Marriott's investor relations website, with replay and transcript available afterwards. Dial-in options are provided for those wishing to join by phone. Marriott International operates approximately 9,000 properties across more than 30 brands in 141 countries and territories, offering the Marriott Bonvoy® travel program.
Marriott International has announced the return of The Ritz-Carlton brand to Cancun, with a new property set to open in 2027. The Ritz-Carlton, Cancun, Punta Nizuc will feature a 131-key luxury hotel and 126 branded residences in a LEED certified building. This project is a collaboration between FibraHotel, Fibra Danhos, and Beyond Ventures.
Located in Punta Nizuc, the resort will offer private shoreline access, ocean views, and world-class amenities. The design will be led by architectural firms Lissoni & Partners and Cherem Arquitectos. Amenities will include an oceanfront pool complex, destination spa, six gourmet restaurants, and exclusive residential services.
This development aims to meet the growing demand for luxury travel experiences and branded residences in Cancun, a destination that attracts nearly 30 million visitors annually. The project underscores The Ritz-Carlton's commitment to providing exceptional experiences in sought-after destinations.
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