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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 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.
Marriott International has launched a pilot program for contactless arrival kiosks at select hotels and a proof-of-concept for grab-and-go marketplaces at two locations. These initiatives aim to enhance traveler confidence by integrating technology within the company's Commitment to Clean program. The pilot kiosks, located in New York and Louisiana, allow guests to check in with minimal contact, while the marketplaces provide convenient access to food and beverages. Marriott's focus on contactless services responds to increasing consumer demand for safety and convenience in travel.
W Hotels Worldwide has launched its first hotel in Japan, the W Osaka, located on Midosuji Boulevard. This luxury hotel features a striking black monolith façade and colorful interiors designed by renowned architect Tadao Ando and the design studio concrete. The hotel offers 337 guestrooms, unique dining experiences, and a variety of amenities, aiming to cater to both international travelers and locals. With its vibrant atmosphere, W Osaka is poised to transform the local hospitality scene.
Marriott International marked significant milestones in its Marriott Bonvoy portfolio by opening the 200th Autograph Collection hotel, 50th Tribute Portfolio hotel, and preparing to launch the 120th Luxury Collection hotel. In 2021, the company plans to expand these brands to nearly 70 new locations globally, including 24 new market entries. The unique offerings cater to travelers seeking individualized experiences, with a notable interest in independent properties that showcase local culture. Recent trends show a marked increase in consumer interest for boutique and luxury hotels.
Marriott International (NASDAQ: MAR) has elected David Marriott and Horacio Rozanski to its Board of Directors, effective March 15, 2021. This expansion brings the board to 13 members, with nine being independent. David Marriott will step down as President, U.S. Full Service Managed by Marriott by the end of April, as he is anticipated to assume the role of Chairman of the Board in 2022. Both new members are noted for their extensive experience, which the company seeks to leverage for recovery from the COVID-19 pandemic.
Marriott International announced that Leeny Oberg, CFO, will present at the 2021 J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on March 12, 2021, at 10:15 a.m. ET. The event will be available via live webcast on the company's investor relations site. This webcast will remain accessible until April 11, 2021. Marriott, based in Bethesda, Maryland, operates over 7,600 properties across 30 brands worldwide, offering the Marriott Bonvoy™ travel program. For further details, visit www.marriott.com/investor.
Marriott Bonvoy's longer stay brands, including Element Hotels, Residence Inn, and TownePlace Suites, announced new openings, enhancing options for travelers. The initiative aims to offer spacious and comfortable extended stays, emphasizing amenities like in-room kitchens and business centers. With nearly 1,400 hotels globally, these brands represent 30% of the extended stay market, supported by a pipeline of 575 additional properties. Promotions include savings for extended stays and grocery gift cards for longer bookings. This strategy targets travelers blending business and leisure.
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