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 International has officially launched The Ritz-Carlton Maldives, Fari Islands, marking its debut in the Maldives. This luxury resort features minimalist architecture, 100 villas with stunning views, and seven diverse dining options, including a Michelin-star-inspired venue. Accessible via a short seaplane or boat ride, the resort emphasizes the local culture and environment through immersive programs. Designed by Kerry Hill Architects, it offers a unique experience blending luxury with nature.
Marriott International will have its CEO, Tony Capuano, speak at the 2021 Goldman Sachs Travel and Leisure Conference on June 8, 2021. His presentation is scheduled for approximately 8:25 a.m. Eastern Time and will be available via live webcast. Interested parties can access the webcast on Marriott's investor page.
The recorded webcast will remain accessible until August 31, 2021.
Marriott operates over 7,600 properties worldwide and is renowned for its travel program, Marriott Bonvoy.
The Luxury Collection, part of Marriott's portfolio, expands into South Korea with the opening of Josun Palace, a Luxury Collection Hotel, Seoul Gangnam. This historic hotel, originally built in 1914, offers modern amenities alongside Korean design. Guests can enjoy five dining options, a wellness club, and unique luxury experiences. The hotel is located near major attractions in Gangnam, enhancing Marriott's offerings in the region. Josun Palace emphasizes health safety with advanced sterilization and service options via smart devices.
Marriott International announced the opening of The St. Regis Bermuda Resort on May 24, 2021, marking its luxury brand's debut in Bermuda. Located in the UNESCO World Heritage site of St. George's, the resort features 120 guest rooms, including 21 suites, with ocean views. It offers high-end amenities including a spa, multiple dining venues, and a golf course. The resort aims to enhance the local hospitality landscape with its exceptional service and curated experiences. The St. Regis brand draws on its historical ties to Bermuda, enhancing the resort's allure.
Marriott International (NASDAQ: MAR) filed a lawsuit on May 18, 2021, in Virginia against unknown robocall perpetrators exploiting its name for fraudulent purposes. The lawsuit aims to protect customers and the brand from deceptive telemarketing practices that have surged, with robocalls claiming to be from Marriott peaking at seven million per month by late 2020. Marriott is collaborating with experts to trace the robocall origins, affirming its commitment to halting these illegal activities and protecting consumer interests.
EDITION Hotels proudly announces the reopening of its two NYC locations: The New York EDITION on May 11, 2021, and The Times Square EDITION on June 1, 2021. With a renewed focus on luxury, both properties offer unique experiences, including new suites with stunning views and updated dining options. The New York EDITION features exclusive penthouses and a Michelin-starred restaurant, while The Times Square EDITION boasts outdoor dining led by renowned chefs. This revitalization aligns with NYC's cultural resurgence, welcoming both locals and tourists back to vibrant spaces.
Marriott reported a challenging first quarter of 2021, with a 46.3% decline in comparable systemwide RevPAR globally compared to 2020. The company's reported diluted loss per share was $0.03, down from a gain of $0.09 in the same period last year. Total net loss for the quarter was $11 million, a significant drop from $31 million in the previous year. Despite these challenges, Marriott added over 23,500 rooms globally and maintains a robust development pipeline of approximately 491,000 rooms. Net liquidity stands at $4.7 billion.
Marriott Bonvoy, the travel program of Marriott International (NASDAQ: MAR), has partnered with Uber (NYSE: UBER) to allow members to earn points on food deliveries via Uber Eats and select Uber rides. Members can earn six points per dollar spent on Uber Eats deliveries at Marriott hotels and three points per dollar on Uber XL, Comfort, and Black rides, with a minimum $25 spend. Users who link their accounts and complete a qualifying transaction by May 31 will receive 2,000 bonus points. This initiative aims to enhance member engagement while encouraging travel and everyday usage.
EDITION Hotels, part of Marriott International, announced plans to open eight new properties across three continents by the end of 2022. This expansion includes hotels in Rome, Madrid, Dubai, Reykjavik, Tampa, Doha, and Mexico's Riviera Maya, along with a second location in Tokyo. With this expansion, EDITION's portfolio will grow from 11 to 19 hotels globally. The new locations are set to reflect local cultures and include unique dining experiences, modern luxury services, and amenities.
Marriott International (Nasdaq: MAR) is set to report its first quarter 2021 earnings on May 10, 2021, at 7:00 am ET, followed by a conference call at 8:30 am ET. The call will feature insights from CEO Anthony Capuano and CFO Leeny Oberg. Investors can access the call through the company's investor relations website, with a replay available until May 9, 2022. Marriott operates over 7,600 properties across 133 countries, offering its Marriott Bonvoy travel program.
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