Marriott Intl Inc Stock Price, News & Analysis

Marriott International (NASDAQ: MAR) has reached a milestone with the opening of its 100th property in Japan - Four Points Flex by Sheraton Osaka Umeda. This marks the brand's debut in Asia Pacific excluding China. In collaboration with KKR, the company plans to open 12 additional Four Points Flex properties across Japan through early 2025, adding over 3,600 rooms to Marriott's portfolio. The expansion targets value-conscious travelers, offering essential amenities in convenient locations near public transit and city centers. The properties will span across major destinations including Hakodate, Yokohama, Nagoya, Osaka, Kyoto, and others.

Design Hotels announced significant portfolio growth with 29 new signed agreements and 10% expansion in the last 12 months. The company is experiencing notable momentum in the United States and Mexico, adding 7 new destinations and 10 new hotels in the US, while surpassing 25 hotels in Mexico. Key additions include The Warren Street Hotel in NYC, Drift Nashville with 104 rooms, and upcoming properties in Switzerland, Georgia, Istanbul, Singapore, and Bali. The expansion includes partnerships with renowned hotel groups like Firmdale Hotels, Grupo Habita, Drift Hotels, and ASH.

Marriott International (Nasdaq: MAR) has declared a quarterly cash dividend of 63 cents per share of common stock. The dividend will be paid on December 31, 2024, to shareholders of record as of November 21, 2024. The company currently operates a portfolio of nearly 9,100 properties across more than 30 brands in 142 countries and territories, offering hotel operations, franchising, and vacation ownership resort licensing services worldwide.

The Ritz-Carlton, Naples announces its inaugural NYE Black-Tie Gala, featuring internationally acclaimed jazz artist Stella Cole. The exclusive event includes a five-course champagne dinner by Executive Chef Satish Yerramilli, an intimate 'Meet the Artist' reception, and two live performances culminating in a midnight countdown.

The gala offers multiple ticket tiers: Premiere Seating at $650 per person with caviar pairing, Reserved Seating at $525 per person, and Large Table Reservations from $500 per person. All packages include taxes, gratuity, valet parking, and a complimentary autographed album. A special overnight stay package is available with Coastal View Guestroom accommodation and two gala tickets.

Marriott International (MAR) reported solid Q3 2024 results with global RevPAR up 3.0%. The company's adjusted diluted EPS reached $2.26, compared to $2.11 in Q3 2023. Net income was $584 million, down from $752 million year-over-year. Notable achievements include adding 16,000 net rooms and maintaining a development pipeline of 585,000 rooms. The company's group segment showed strong performance with RevPAR rising 10%. Marriott expects full-year 2024 net rooms growth of approximately 6.5% and plans to return about $4.4 billion to shareholders through dividends and share repurchases.

Marriott International (NASDAQ: MAR) announced the opening of its 500th property in the Caribbean and Latin America region with the Almare, a Luxury Collection Resort in Isla Mujeres, Mexico. This adults-only, all-inclusive luxury resort marks Marriott's first luxury all-inclusive property in Mexico and features 109 ocean-view suites, seven dining venues, and a spa. The milestone highlights Marriott's significant regional growth from 300 to 500 properties in three years, with approximately 10% of its global luxury portfolio now in CALA. The company plans further expansion with upcoming properties including Paraiso de la Bonita in Mexico and W Punta Cana in Dominican Republic.

MGM Resorts International (NYSE: MGM) and Marriott International, Inc. (Nasdaq: MAR) have announced plans to convert an iconic property on the Las Vegas Strip to W Las Vegas, part of the W Hotels brand within the Marriott Bonvoy® portfolio. This conversion, anticipated to complete later this year, is the latest step in the companies' long-term strategic licensing agreement announced in July 2023.

Since the MGM Collection with Marriott Bonvoy officially launched in March 2024, bookings have significantly outpaced projections. The collaboration allows Marriott Bonvoy's 200 million members to enjoy benefits and redeem points at MGM Resorts' destinations, while MGM Rewards members can status match and receive benefits at Marriott's global portfolio of approximately 9,000 properties.

Located on the Mandalay Bay Campus, W Las Vegas will be the 12th destination on the Las Vegas Strip within the MGM Collection with Marriott Bonvoy, joining properties such as Bellagio, ARIA Resort & Casino, and The Cosmopolitan of Las Vegas.

Marriott International has announced the global launch of Connect Responsibly with Marriott Bonvoy Events, a program designed to help meeting planners incorporate sustainability into their events at participating Marriott Bonvoy portfolio hotels. The program, set to go live globally by the end of October, will offer:

• Detailed Meeting Impact Reports to measure the environmental impact of events
• Options to purchase carbon credits

The Meeting Impact Report will capture event details, property-specific sustainability practices, and the event's carbon and water footprints. In collaboration with South Pole, Marriott will offer access to select carbon offset projects. This initiative supports Marriott's efforts to reduce greenhouse gas emissions and aligns with its Sustainability and Social Impact Platform, Serve 360.

Marriott International signed an agreement with Shum Yip Holdings Company to introduce The Luxury Collection and AC Hotels to Shenzhen, China. The Luxury Collection Hotel, expected to open in November 2028, will offer 173 guest rooms and suites, dining venues, recreational facilities, and 1,600 square meters of event space. AC Hotel by Marriott Shenzhen North Station will feature 207 rooms and suites, an all-day dining restaurant, and the AC Lounge.

Both hotels will be located near Shenzhen North Railway Station, providing easy access to high-speed rail lines and about 35 kilometers from Shenzhen Bao'an International Airport. This collaboration adds to Marriott's existing portfolio of over 20 properties across 13 brands in Shenzhen, strengthening its presence in southern China.