Welcome to our dedicated page for Marriott Intl news (Ticker: MAR), a resource for investors and traders seeking the latest updates and insights on Marriott Intl stock.
Marriott International (MAR) is a global hospitality leader operating iconic hotel brands across 140+ countries. This news hub provides investors and industry professionals with timely updates on corporate developments, strategic partnerships, and market performance.
Access official press releases, earnings reports, and analysis of MAR's asset-light business model, including franchise expansions and Marriott Bonvoy loyalty program enhancements. Our curated collection simplifies tracking of operational milestones across luxury, premium, and select-service hotel categories.
Discover updates on leadership changes, sustainability initiatives, and international market entries that shape MAR's position in the competitive lodging sector. Bookmark this page for streamlined monitoring of financial disclosures and brand portfolio developments critical to informed hospitality industry analysis.
Marriott International (Nasdaq: MAR) announced the first 19 projects to receive support from its Bridging the Gap program, aimed at enhancing hotel development among historically underrepresented groups. This initiative follows a $50 million investment made in 2022 to facilitate ownership for Black, Hispanic, Native American, and women developers. The projects, including various hotel brands such as Aloft and Residence Inn, are expected to reach a total asset value of $1 billion within three years. The program seeks to remove barriers to entry in hotel ownership through financial support and expert guidance from experienced developers and lenders. The announcement also coincides with the upcoming She Has a Deal pitch competition on April 27-28, showcasing efforts to boost women's representation in hotel ownership.
Marriott International, Inc. (Nasdaq: MAR) will announce its first quarter 2023 earnings on May 2, 2023, at approximately 7:00 am Eastern Time. A conference call for investors will follow at 8:30 am ET, featuring CEO Anthony Capuano and CFO Leeny Oberg to discuss company performance.
The call will be accessible via their investor relations website and will include a replay option available until May 9, 2023. Marriott operates nearly 8,300 properties across 138 countries, known for its rewards travel program, Marriott Bonvoy®.
Marriott International (NASDAQ: MAR) has been named one of Fortune's 100 Best Companies to Work For for the 26th consecutive year, underscoring its commitment to employee welfare. As part of this initiative, Marriott is launching a new people brand called "Be", aimed at enhancing the recruitment and retention of talent across its global workforce. The brand emphasizes three pillars: begin, belong, and become, and will be implemented across over 8,300 properties. Marriott added over 200,000 associates last year and continues to offer competitive benefits, including an Employee Stock Purchase Plan and increased retirement savings matches.
The Ritz-Carlton has officially opened its doors in Melbourne, Australia, marking a significant addition to Marriott Bonvoy's portfolio. The new hotel, located 80 stories high, offers luxury accommodations, with 257 rooms designed to showcase stunning city views. Guests can enjoy upscale amenities, including three distinct culinary venues, a spa, and versatile event spaces. The hotel's design celebrates Melbourne's rich culture and heritage. With a focus on personalized service and unique experiences, The Ritz-Carlton, Melbourne aims to become a premier destination for both travelers and locals.
Marriott International, Inc. (NASDAQ: MAR) appointed Lauren Hobart and Grant Reid as independent directors, effective March 15, 2023. Hobart, CEO of DICK'S Sporting Goods, is noted for her transformative leadership and commitment to inclusivity. Reid, former CEO of Mars, has a distinguished record in company growth, significantly increasing Mars' annual sales to nearly $45 billion. Their addition to the board aims to enhance Marriott's strategy focusing on technological innovation and strong company culture. The board will grow to 14 members, with 11 independent directors anticipated, as it prepares for the upcoming 2023 annual meeting of stockholders.
On March 10, 2023, Marriott International (NASDAQ: MAR) announced it received regulatory approval from Mexico's COFECE for acquiring the City Express brand portfolio from Hoteles City Express. This acquisition aims to expand Marriott's presence in the affordable midscale segment, adding approximately 150 hotels and 17,000 rooms across Mexico and Latin America. Following the anticipated closure in Q2 2023, Marriott will enhance the City Express brands with its signature 'by Marriott' endorsement, positioning itself as the largest hotel company in the Caribbean and Latin America with over 480 properties across 37 countries.
Marriott Bonvoy has launched VIP experiences in collaboration with the Mercedes-AMG PETRONAS F1 Team for the 2023 racing season. Starting with the Miami race weekend in May 2023, the program offers 11 exclusive packages that allow members to participate in unique activities, such as driving laps in high-performance cars and enjoying behind-the-scenes access to the F1 team. Notable offerings include stays at Ritz-Carlton hotels and immersive experiences during races across multiple cities. These opportunities are available to Marriott Bonvoy members who can use points earned through travel and purchases to bid on these experiences.
Marriott International (NASDAQ: MAR) announces its agreement with Grimit S.r.l. to establish The Ritz-Carlton, Bellagio, marking its inaugural property in Italy. This luxury hotel, expected to open in 2026, will undergo a transformation of the historic Hotel Grande Bretagne. The property will feature 59 rooms and 46 suites, alongside a destination spa, diverse dining options, and extensive gardens. Located on Lake Como, a renowned tourist destination, the hotel aims to restore the legacy of the former hotel and enhance Marriott’s luxury brand portfolio in Italy.
