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.
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.
The Westin Galleria Houston and The Westin Oaks Houston have unveiled transformed event spaces, boasting over 90,000 square feet for events accommodating up to 1,200 guests. Located in Houston's Galleria mall, these hotels focus on customer service and offer a range of customizable cuisine and personalized solutions. The venues feature a mix of modern and classic aesthetics and elevated cleanliness standards according to Marriott's protocols. Guests can enjoy redesigned rooms, fitness facilities, and a commitment to wellness.
On November 22, 2021, Marriott International's CEO, Anthony Capuano, announced his participation at the 2021 Morgan Stanley Virtual Global Consumer & Retail Conference on December 1. His remarks are scheduled for 2:25 p.m. Eastern Time and will be available via live webcast. To access the webcast, visit marriott.com/investor. The recorded webcast will be accessible until January 1, 2022.
On November 15, 2021, JW Marriott Orlando Bonnet Creek Resort & Spa launched its new Family Suites, designed to enhance family bonding during stays. Each suite accommodates up to nine guests, featuring two bedrooms, kid-friendly loft beds, and amenities that promote restful sleep. The suites are part of JW Marriott's Family by JW programming, responding to rising demand for larger family accommodations near Walt Disney World. Rates for the suites start at $999, with an exclusive 'Sleepy Snack' menu aimed at improving sleep quality for both children and adults.
Marriott Bonvoy® has announced that The Ritz-Carlton Yacht Collection will officially join its travel program starting November 9, 2021. This addition allows Marriott Bonvoy members to earn and redeem points for luxury voyages beginning May 6, 2022. Members can earn five points per $1 spent on cruise fares and enjoy various elite benefits, such as an exclusive reception upon boarding. The Ritz-Carlton Yacht Collection enhances the program's offerings, which currently includes over 30 hotel brands and 7,900 properties worldwide.
In Q3 2021, Marriott International (NASDAQ: MAR) reported a 118.4% increase in comparable systemwide constant dollar RevPAR worldwide compared to Q3 2020, with the U.S. & Canada seeing a 134.7% increase. However, RevPAR fell 25.8% globally compared to Q3 2019. Net income rose to $220 million from $100 million a year earlier, with adjusted diluted EPS increasing to $0.99. The company added approximately 17,500 rooms, growing its development pipeline to 2,769 properties worldwide. Marriott expects a 3.5% net room growth for 2021.
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