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.
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