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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 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.
AC Hotels by Marriott has opened a new property in the affluent Ballantyne neighborhood of Charlotte, North Carolina, on January 20, 2022. The AC Hotel Charlotte Ballantyne features 186 rooms and a range of amenities including a 24-hour fitness center, yoga studio, and the AC Lounge for dining. The hotel occupies the first seven floors of the Panorama Tower, which includes 100,000 square feet of Class A office space above. It marks Concord Hospitality's 11th property in North Carolina, emphasizing locally-sourced experiences and art.
The Ritz-Carlton, Dallas, has completed a multimillion-dollar renovation of its luxury spa, enhancing the 12,000 square foot facility with a tranquil garden-inspired design. The redesign, led by Dallas-based ForrestPerkins, incorporates a new treatment menu featuring the 'Diamond Facial' and 'Calm, Balance, and Delight' treatment. The spa aims to provide a luxurious experience with nature-inspired elements, including a striking hand-forged metal trellis and a fresh aesthetic throughout. Spa services start at $180, with reservations now available.
Marriott International (NASDAQ: MAR) reported strong growth in 2021, adding over 86,000 rooms and achieving a 3.9% increase in its system. By year-end, it operated nearly 8,000 properties globally, with 485,000 rooms in the pipeline. The company signed 599 agreements representing 92,000 rooms, predominantly outside the U.S. and Canada. Marriott's luxury segment expanded with 40 hotel deals, and its all-inclusive resort portfolio grew by 22 agreements. The extended stay segment flourished, accounting for 37% of room signings in North America. Marriott remains optimistic about future growth despite ongoing pandemic challenges.
The Luxury Collection Hotels & Resorts, part of Marriott Bonvoy, has opened The Tasman in Hobart, marking the brand's debut in Australia. This hotel features 152 guest rooms blending Georgian, Art Deco, and contemporary designs. Located near Salamanca Markets and historic Sullivan's Cove, it emphasizes local cuisine through its signature restaurant Peppina, run by Chef Massimo Mele. The hotel offers over 769 square meters of meeting space and aims to redefine Tasmania as a premier destination for travelers.
The Luxury Collection, part of Marriott Bonvoy, has appointed Caroline de Maigret as its new Global Explorer. This role features her collaboration on a guidebook, A Night in Seville and the Morning After, showcasing top travel experiences in Seville and launching alongside the new Hotel Santo Mauro in Madrid. The guide and a series of digital city guides will celebrate European destinations. The initiative aims to engage cultural voices and enhance travel experiences.
Marriott International announced plans to debut over 30 luxury hotels in 2022, enhancing its portfolio of luxury brands. With more than 460 luxury hotels across 68 countries, the company is set to expand further, targeting iconic and emerging destinations from Mexico to South Korea. Senior VP Chris Gabaldon noted a trend towards deeper, more immersive travel experiences among affluent travelers, reflecting a shift in priorities post-pandemic. The Ritz-Carlton and St. Regis brands are among those expected to lead this expansion, alongside other luxury offerings.
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