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.
Marriott and SHOWTIME have launched a unique collaboration to celebrate the new anthology series The First Lady. Starting April, select Ritz-Carlton hotels will offer First Lady Suites, themed around iconic First Ladies. Each suite will showcase actual props from the show, including replicas of historical items and period costumes. Marriott Bonvoy members can bid for a stay using the Marriott Bonvoy Moments platform, which also includes access to a VIP premiere of the series on April 17. The initiative aims to enhance guest experiences through immersive storytelling.
Marriott Bonvoy commemorates six years as the Official Hotel Partner of the NCAA, enhancing fan experiences at March Madness events. This partnership encompasses all 90 NCAA championships, offering exclusive sports packages via the Marriott Bonvoy Moments platform. Fans can access unique experiences at hotels in tournament host cities, including VIP access and special hotel deals. With championships set for April 2022 in New Orleans and Minneapolis, Marriott aims to solidify its brand presence and enhance fan engagement across various NCAA events.
Marriott International (NASDAQ: MAR) has opened its 8,000th property, the Marriott Bethesda Downtown at Marriott HQ, in Bethesda, Maryland. This new 12-story hotel marks a significant milestone as the company celebrates its 95th anniversary. The hotel features locally-inspired design, three culinary concepts, and state-of-the-art meeting spaces. Prices start at $296 on weekdays and $159 on weekends. Marriott Bonvoy members can benefit from special opening offers, enhancing overall guest experience.
The Madrid EDITION, the city’s first luxury lifestyle urban resort, is set to open in
Marriott International (NASDAQ: MAR) CEO, Anthony Capuano, will speak at the 2022 J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum. The event is scheduled for March 7, 2022, at approximately 1:25 p.m. Eastern Time. The remarks will be available via live webcast at www.marriott.com/investor and will remain accessible until April 6, 2022.
Marriott International operates nearly 8,000 properties in 139 countries, offering the award-winning travel program, Marriott Bonvoy.
Carrier Global Corporation (NYSE: CARR) announced a collaboration with Marriott International on Feb. 16, 2022, to innovate hotel technologies. This partnership aims to enhance in-room environments and streamline hotel construction using modular building and IoT solutions. Carrier will form a dedicated team under a multi-year agreement to focus on sustainable construction practices. Both companies emphasize improving guest experiences and operational efficiencies in the hospitality sector.
Marriott International reported significant recovery in its fourth quarter 2021 results, with a 124.5% increase in worldwide comparable systemwide constant dollar RevPAR compared to Q4 2020, while still down 19% from Q4 2019. Reported net income surged to $468 million with diluted EPS of $1.42, compared to a loss last year. The company expanded its global footprint with over 86,000 new rooms added in 2021 and an ongoing development pipeline of 485,000 rooms. Despite challenges from the pandemic, Marriott remains optimistic about 2022 recovery.
The Luxury Collection, part of Marriott Bonvoy, has launched The Ocean Club, a Luxury Collection Resort on the northern coast of the Dominican Republic. Located near Puerto Plata Airport, this resort features 64 spacious suites, including a large Presidential Penthouse, and offers multiple dining options highlighting local cuisine. Amenities include three pools, a private beach, a marina, and a luxury spa. Rates start at $750 per night, including breakfast and airport transfers. This opening expands Marriott's luxury footprint in the Caribbean, appealing to global travelers seeking unique experiences.
J.W. Marriott, Jr. will retire as Executive Chairman of Marriott International (NASDAQ: MAR) in May after over 60 years of leadership. The Board has elected David S. Marriott as his successor, effective post-Annual Meeting. J.W. Marriott, Jr. will become Chairman Emeritus. Also joining the Board is Isabella D. Goren, former CFO of American Airlines, effective March 1, 2022. Goren's extensive experience in finance and operations is expected to benefit the company. Lawrence Kellner will retire as Lead Director, with Fritz Henderson appointed as his successor.
Marriott International (Nasdaq: MAR) will announce its fourth quarter 2021 earnings results on February 15, 2022, at 7:00 am ET. A conference call for investors will follow at 8:30 am ET, featuring CEO Anthony Capuano and CFO Leeny Oberg discussing the company's performance. This event will be accessible via their investor relations website, with a replay available until February 14, 2023. The company operates nearly 8,000 properties globally, offering services under various brands and the Marriott Bonvoy® program.
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