Marriott International Experiences Third Quarter 2024 Outcomes
Third quarter 2024 linked systemwide fixed dollar RevPAR elevated 3.0 p.c worldwide, 2.1 p.c within the U.S. & Canada, and 5.4 p.c in global markets, compared to the 2023 third quarter; Third quarter reported diluted EPS totaled $2.07, compared to reported diluted EPS of $2.51 within the year-ago quarter. Third quarter adjusted diluted EPS totaled
- Third quarter 2024 linked systemwide fixed dollar RevPAR elevated 3.0 p.c worldwide, 2.1 p.c within the U.S. & Canada, and 5.4 p.c in global markets, compared to the 2023 third quarter;
- Third quarter reported diluted EPS totaled $2.07, compared to reported diluted EPS of $2.51 within the year-ago quarter. Third quarter adjusted diluted EPS totaled $2.26, compared to third quarter 2023 adjusted diluted EPS of $2.11;
- Third quarter reported fetch profits totaled $584 million, compared to reported fetch profits of $752 million within the year-ago quarter. Third quarter adjusted fetch profits totaled $638 million, compared to third quarter 2023 adjusted fetch profits of $634 million;
- Adjusted EBITDA totaled $1,229 million within the 2024 third quarter, compared to third quarter 2023 adjusted EBITDA of $1,142 million;
- The firm added roughly 16,000 fetch rooms for the length of the quarter;
- On the stop of the quarter, Marriott’s worldwide construction pipeline totaled approximately 3,800 properties and 585,000 rooms, including roughly 34,000 pipeline rooms permitted, nevertheless no longer but topic to signed contracts. Extra than 220,000 rooms within the pipeline had been underneath construction as of the stop of the third quarter;
- Marriott repurchased 4.5 million shares of general stock for $1.0 billion within the third quarter. Yr so a long way thru October 31, the firm has returned $3.9 billion to shareholders thru dividends and half repurchases.
Gape the abstract of quarterly highlights.
Marriott International, Inc. (Nasdaq: MAR) this day reported third quarter 2024 results.
Marriott had one other accept quarter, highlighted by accept fetch rooms and price development, tough construction exercise and a 3 p.c amplify in global RevPAR[1]. Third quarter global RevPAR rose 5.4 p.c, led by meaningful gains in APEC and EMEA with resilient home and rotten-border ask, as effectively as accept ADR development. RevPAR within the U.S. & Canada elevated extra than 2 p.c compared to the year-ago quarter, with ADR up 2.3 p.c.
Community remained the standout buyer section, with global community RevPAR rising 10 p.c within the quarter and on glide to rise 8 p.c for full year 2024. RevPAR for the industry transient section continued to develop effectively within the quarter, while leisure transient RevPAR became flat year over year, nevertheless still effectively sooner than pre-pandemic stages.
Given the breadth and depth of our portfolio and the meaningful advantages we bring to owners and franchisees, ask for our manufacturers stays accept. Via the first three quarters of 2024, we signed over 95,000 organic rooms, extra than half of of which would possibly be open air the U.S. & Canada. Extra than 40 p.c of signed rooms are conversions, where we continue to bear quite so a lot of momentum, in particular with multi-unit alternatives.
Obtain rooms grew as regards to 6 p.c over the closing four quarters, and our construction pipeline reached a account 585,000 rooms on the stop of September. Our groups remain keenly occupied with expanding our industry main global portfolio, and we now request full year 2024 fetch rooms development to be around 6.5 p.c.
Our industry momentum is amazing, and we continue to adapt our industry to beef up our diversified global development alternatives. To that stop, we bear got undertaken a entire initiative to beef up our effectiveness and effectivity during the firm. At this point during, we request this initiative to yield $80 million to $90 million of annual general and administrative imprint reductions starting in 2025. In addition to, we request this work to bring imprint savings to our owners and franchisees.
With our asset light industry mannequin generating meaningful cash and our accept monetary performance, we returned $3.7 billion to shareholders thru half repurchases and dividends within the first 9 months of the year, and now request to reach help approximately $4.4 billion for the complete year 2024.Anthony Capuano, President and Chief Govt Officer
Click here to behold the complete originate.
About Marriott International
Marriott International, Inc. (Nasdaq: MAR) is essentially essentially based in Bethesda, Maryland, USA, and contains a portfolio of approximately 9,000 properties during extra than 30 main manufacturers in 141 countries and territories. Marriott operates and franchises resorts and licenses commute possession accommodations all during the sector. The firm affords Marriott Bonvoy®its highly awarded lope program. For extra files, please focus on over with our net put at www.marriott.com. In addition to, connect with us on Fb and @MarriottIntl on X and Instagram.
About Marriott Bonvoy®
Marriott Bonvoy’s phenomenal portfolio affords renowned hospitality in basically the most memorable locations within the sector, with 31 manufacturers which would possibly be tailored to every manufacture of lope. From The Ritz-Carlton and St. Regis to W Accommodations and extra, Marriott Bonvoy has extra luxury choices than another lope program. Contributors can draw aspects for stays at resorts and accommodations, including all-inclusive accommodations and top price home rentals, and thru day after day purchases with co-branded credit ranking playing cards. Contributors can redeem their aspects for experiences including future stays, Marriott Bonvoy Moments™, or thru companions for luxurious products from Marriott Bonvoy Boutiques®. To enroll without cost or for added files about Marriott Bonvoy, focus on over with marriottbonvoy.com.
