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 reported a significant rebound in its second quarter 2021 results, with worldwide RevPAR up 262.6% from Q2 2020. The company achieved a net income of $422 million, contrasting a net loss of $234 million a year prior, while diluted EPS reached $1.28 compared to a loss per share of $0.72 last year. Marriott added nearly 25,000 rooms to its global portfolio, pushing the total development pipeline to 2,750 properties. The company remains optimistic about future growth despite ongoing uncertainties from COVID-19 variants, highlighting strong recovery in demand, especially in the U.S. and China.
Marriott International announced the launch of an updated human trafficking awareness training on July 30, aligning with World Day Against Trafficking in Persons. The training aims to educate all hotel staff to recognize and respond to human trafficking by 2025. Enhanced features include scenario-based modules and a mobile-friendly design, developed with input from trafficking survivors. Over 850,000 associates have completed prior training since its inception in 2016. Marriott plans to donate this updated training to the broader hospitality industry in early 2022.
Marriott International (NASDAQ: MAR) announced the redemption of its $400 million 3.125% Series N Notes due October 15, 2021, on August 9, 2021. The redemption price will be 100% of the principal amount plus accrued interest. Post-redemption, these notes will cease to be outstanding and interest will stop accruing. The company highlighted the forward-looking nature of its statements regarding the redemption timeline, noting potential risks and uncertainties that could impact actual outcomes.
Marriott International (NASDAQ: MAR) is set to announce its second quarter 2021 earnings results on August 3, 2021, at 7:00 am ET. A conference call will follow at 8:30 am ET, featuring CEO Anthony Capuano and CFO Leeny Oberg discussing performance metrics. Investors can access the call via the company's investor relations website, with a replay available until August 2, 2022. The conference call can be tapped into at 1-706-679-3455 with conference ID 2952228. Marriott operates over 7,600 properties across 133 countries.
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.
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