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 new SpringHill Suites and TownePlace Suites by Marriott in Avon, Colorado opened on June 25, 2024, as a dual-brand hotel. The hotel, developed by JMA Ventures and managed by Pyramid Global Hospitality, features 116 suites in SpringHill Suites and 127 suites in TownePlace Suites. Perfectly located between Vail and Beaver Creek, the hotel offers easy access to local attractions, including the Eagle River and over 100 miles of bike paths. Amenities include an outdoor swimming pool, hot tub, fitness center, meeting room, complimentary Wi-Fi, and on-site business services. The hotel also features a unique lobby bar with spectacular valley views. Catering to both short-term and long-term stays, the suites provide separate living, sleeping, and working areas, with fully equipped kitchens in TownePlace Suites. The hotel aims to attract both domestic and international travelers, as well as serve as a community hub for the Town of Avon.
Marriott International has published its 2024 Serve 360 Report, detailing progress on the company's Environmental, Social, and Governance (ESG) initiatives for the year ending December 31, 2023. The report highlights achievements towards Marriott's 2025 Sustainability and Social Impact Goals, including verified emissions reduction targets, expanded EV charging infrastructure, and extensive volunteerism efforts.
Key highlights include: verification of science-based emissions reduction targets, over 7,100 EV chargers installed, more than 3.1 million volunteer hours in 2023, and significant contributions to disaster relief in Maui, Hawaii. Additionally, Marriott committed to hiring over 3,000 refugees by 2026 and has trained over 1.2 million associates in human trafficking awareness.
Regional achievements include substantial donations through UAE's Road to Awareness cycling events, sea turtle conservation in Mexico, and surplus food rescue initiatives in Southeast Asia. Full details are available on the Marriott Serve 360 website.
The Luxury Group by Marriott International has released a new report highlighting shifts in luxury travel preferences among affluent travelers in Asia-Pacific. The study, conducted across six markets, reveals that 68% plan to spend more on travel, with 74% favoring intra-regional holidays. Australia tops the destination list, followed by Japan. Notably, 89% of Indian high-net-worth (HNW) individuals intend to increase their travel spending. Culinary experiences are a primary motivator, with 88% planning trips centered around food. The report identifies three new traveler personas: 'Venture Travelist,' 'Experience Connoisseur,' and 'Timeless Adventurer.' The findings also indicate a trend towards longer trips and group travel, with 70% of respondents preferring to travel with family or friends.
Marriott Bonvoy and The J. Willard and Alice S. Marriott Foundation have committed a $500,000 donation to World Central Kitchen (WCK), a nonprofit led by Chef José Andrés, to support disaster response efforts globally. This donation aims to enhance WCK's capacity to provide nutritious meals in the aftermath of natural disasters.
The announcement was made by Marriott CEO Anthony Capuano during a podcast taping at the Cannes Lions International Festival of Creativity. Additionally, Marriott Bonvoy will match all point donations to its philanthropic partners, including WCK, up to 25 million points in June.
WCK provides emergency food relief and helps rebuild communities affected by disasters. This donation will also support initiatives like training local chefs and volunteers to establish community kitchens.
Marriott's long-standing partnership with WCK has previously included financial donations and volunteer efforts, such as during the 2010 Haiti earthquake and Hurricane Maria in Puerto Rico.
Marriott Bonvoy and Starbucks have announced a new collaboration to offer enhanced benefits to their loyalty members. Starting June 18, 2024, U.S. members who link their Marriott Bonvoy and Starbucks Rewards accounts can earn points and stars for free stays and beverages. This partnership includes earning Double Stars on qualifying transactions during hotel stays and 100 Marriott Bonvoy points for making three qualifying purchases during designated Marriott Bonvoy Weeks. The collaboration also introduces exclusive coffee- and travel-themed experiences through Marriott Bonvoy Moments. Additionally, members can participate in a sweepstakes to win trips and other prizes.
Marriott International announced plans to incorporate three iconic luxury properties into its Marriott Bonvoy portfolio this summer. The properties include The Resort at Pelican Hill in Newport Beach, CA, Turtle Bay Resort in O'ahu, HI, and a luxury hotel in Midtown Manhattan, NYC. This move adds over 1,000 rooms to Marriott's system, enhancing its luxury segment. The New York property will join on June 5, Pelican Hill on July 1, and Turtle Bay Resort later this summer. These additions bring Marriott's global luxury distribution to over 510 hotels, with another 234 in the pipeline. The company aims to strengthen its leadership in the luxury market, offering best-in-class service and experiences to guests.
Nujuma, a Ritz-Carlton Reserve, debuts in the Middle East on Ummahat Island in the Red Sea, Saudi Arabia. This private island retreat offers an immersive escape into Saudi Arabian culture and the Red Sea's natural beauty.
The resort, designed by Foster & Partners, features 63 villas with private pools, panoramic sea views, and personalized services. It includes five unique dining experiences inspired by local traditions, a spa focusing on holistic wellness, and activities exploring the island's rich ecosystems.
Guests can enjoy snorkeling, scuba diving, and guided desert trails. The resort emphasizes sustainability and cultural heritage, offering activities led by local experts.
Nujuma aims to provide a luxurious, transformative experience, blending exploration and relaxation.
Marriott International's CFO and EVP, Leeny Oberg, will speak at the 2024 Morgan Stanley Travel and Leisure Conference on June 4 at 9:45 a.m. ET. The speech will be webcast live and accessible through Marriott's investor website. The recording will remain available until August 30, 2024. Marriott, a global hospitality company, operates nearly 8,900 properties across over 30 brands in 141 countries. The company offers the Marriott Bonvoy travel program. For more details, visit Marriott's website and news center.
World-renowned tennis coach Patrick Mouratoglou has partnered with The Ritz-Carlton Naples, Tiburón to open his first signature tennis center in Florida. Scheduled to launch in early summer 2024, the Mouratoglou Tennis Center will offer various training camps, private lessons, leagues, and retreats for resort guests and members. Located three miles from the Gulf of Mexico, the resort offers a luxury experience with two championship golf courses, a spa, and unique dining options. The center will feature four outdoor courts and programs for all ages and skill levels, using Mouratoglou's personalized coaching methodology. This move is part of Mouratoglou's global expansion, adding to his centers in Dubai, Greece, Malaysia, Italy, China, and New York. The Ritz-Carlton Naples, Tiburón, known for its exceptional service and facilities, aligns perfectly with Mouratoglou's vision.
On May 2, 2024, EDITION Hotels opened The Jeddah EDITION in Saudi Arabia, marking its 20th global outpost and first in the region. This opening aligns with Saudi Arabia's Vision 2030, emphasizing economic and societal diversification.
Located on the Jeddah Corniche, this luxury urban resort features 52 rooms, 11 suites, a rooftop terrace, a pool, a spa, and a gym. It also includes a signature restaurant by chef Cédric Vongerichten and various art installations. The hotel aims to blend Eastern traditions with Western innovation, offering unparalleled hospitality in the region.
This venture is a collaborative effort between Marriott International, EDITION Hotels, Yabu Pushelberg, and Sela, led by Dr. Rakan Al Harthi. The hotel underscores Saudi Arabia's evolving luxury standards and aims to redefine hospitality in the region.
FAQ
What is the current stock price of Marriot International (MAR)?
What is the market cap of Marriot International (MAR)?
What is Marriott International?
What is Marriott's core business?
How did Marriott perform financially in 2023?
What are some of Marriott's largest brands?
What is the Marriott Bonvoy program?
What is a significant recent achievement for Marriott?
Where does Marriott see the most growth?
What is Marriott's approach to debt and shareholder returns?
How does Marriott contribute to diversity and inclusion?
Where can I find more information about Marriott International?
