Welcome to our dedicated page for Marriott International news (Ticker: MAR), a resource for investors and traders seeking the latest updates and insights on Marriott International stock.
Marriott International (MAR) reports developments across a global lodging portfolio that spans luxury, premium, select, midscale, extended stay and all-inclusive brands. The company franchises, operates and licenses hotel, residential, timeshare, yacht, outdoor and other lodging products, and supports its brands through the Marriott Bonvoy travel platform.
Recurring news includes earnings releases, dividend actions, hotel openings, brand conversions, management agreements, regional development activity and executive appearances at lodging and leisure industry events. Updates also cover brand-specific expansion such as W Hotels and St. Regis, as well as growth across markets including the Caribbean, Latin America, Italy and Hawai'i.
Marriott International's (Nasdaq: MAR) President and CEO Anthony Capuano is set to speak at the 2024 Bank of America Gaming and Lodging Conference on September 5 at approximately 9:20 a.m. Eastern Time. The event will be webcast live and accessible via Marriott's investor relations website. The webcast will remain available until November 5, 2024.
Marriott International, headquartered in Bethesda, Maryland, boasts a portfolio of about 9,000 properties across more than 30 brands in 141 countries and territories. The company operates and franchises hotels and licenses vacation ownership resorts globally, offering the Marriott Bonvoy® travel program to its customers.
The Ritz-Carlton, Naples has unveiled an expanded Ritz Kids program aimed at fostering environmental awareness among young guests aged 5 to 12. The reimagined experience features a new Ritz Kids Room with interactive walls, demonstration stage, and aquariums, designed to spark curiosity about coastal Florida's ecosystem. Daily themed activities cover topics like Sea Creatures, Wildlife, and Shoreline, developed in partnership with the Conservancy of Southwest Florida.
The program includes complimentary tours of the Conservancy's Nature Center and electric boat tours of the Gordon River. Additional family activities at the resort include guided shelling tours and access to The Reservoir waterpark at The Ritz-Carlton Naples, Tiburón.
Marriott International (NASDAQ: MAR) has announced a long-term licensing agreement with Sonder Holdings Inc. (NASDAQ: SOND), expected to add over 10,500 rooms to Marriott's portfolio. The agreement will create a new collection called 'Sonder by Marriott Bonvoy', primarily consisting of apartment-style accommodations in urban markets. This addition is set to boost Marriott's full year 2024 net rooms growth to 6-6.5%.
Key points:
- Over 9,000 rooms to be added to Marriott's portfolio by year-end 2024
- Approximately 1,500 rooms to be added to Marriott's pipeline
- Marriott will receive a royalty fee based on a percentage of Sonder's gross room revenues
- Marriott Bonvoy members expected to earn and redeem points at Sonder properties later this year
- Full integration with Marriott's digital channels anticipated in 2025
Marriott International has reached a significant milestone with the opening of its 9,000th property, The St. Regis Longboat Key Resort in Florida. This luxury beachfront resort, spanning 18 acres, features 168 guestrooms, including 26 suites, and 69 private branded residences. The opening underscores Marriott's industry-leading luxury portfolio and continued global growth.
The resort offers exceptional amenities, culinary experiences, and the St. Regis brand's signature service. It marks the largest development on Longboat Key in over 50 years. Marriott's luxury portfolio now includes 522 hotels and resorts across 7 brands in 72 countries, with a pipeline of 233 signed projects.
To celebrate this milestone, Marriott is offering 9,000 Marriott Bonvoy points for guests who book at the St. Regis Longboat Key from August 16 to August 18, 2024.
The Ritz-Carlton Naples, Tiburón has unveiled The Mouratoglou Tennis Center Naples Tiburón, marking world-renowned coach Patrick Mouratoglou's first dedicated teaching facility in Florida. This partnership introduces a premier academy in Southwest Florida, offering world-class coaching for resort guests and members. The center features four outdoor Har-Tru courts and diverse programming for all skill levels, led by elite coaches Claudio Adolfssen and Lena Babinski, certified in The Mouratoglou Methodology.
The center offers private and group lessons, clinics, youth development programs, tennis camps, and tournaments. This addition enhances the resort's active lifestyle offerings, complementing its existing golf facilities. The Mouratoglou Methodology emphasizes a hyper-personalized approach to teaching, adapting to each player's unique needs regardless of age or level.
Marriott International (Nasdaq: MAR) has announced a quarterly cash dividend of 63 cents per share of common stock. The dividend will be payable on September 30, 2024, to shareholders of record as of the close of business on August 16, 2024. Marriott International, based in Bethesda, Maryland, USA, operates a portfolio of nearly 9,000 properties across more than 30 brands in 141 countries and territories. The company offers Marriott Bonvoy®, its highly awarded travel program, and encourages interested parties to review information posted on its investor relations website and news center for potential material updates.
Marriott International has signed an agreement with Zhong An Commercial Group to bring the W Hotels brand to Hangzhou, China. The W Hangzhou is set to open in 2031 in Qianjiang Century City, Hangzhou's new CBD. The hotel will occupy the top floors of a 240-meter building in the IOC complex, featuring 270 guest rooms and suites, with about half offering direct river views. Designed by Kohn Pedersen Fox Associates, the hotel will include two restaurants, a bar, swimming pool, fitness center, and spa. It will also offer event spaces including a ballroom and meeting rooms. The location is approximately 15 km from Hangzhou East Railway Station and 24 km from Hangzhou Xiaoshan International Airport. This signing reinforces Marriott's expanding luxury portfolio in Greater China, which now includes over 70 luxury hotels.
Marriott International (MAR) reported strong Q2 2024 results, with worldwide RevPAR growth of 4.9% and net rooms up 6% year-over-year. Key highlights include:
- Reported diluted EPS of $2.69, up from $2.38 in Q2 2023
- Adjusted diluted EPS of $2.50, compared to $2.26 in Q2 2023
- Reported net income of $772 million, up from $726 million
- Adjusted EBITDA of $1,324 million, up from $1,219 million
- Added 15,500 net rooms during the quarter
- Development pipeline of 3,500 properties with 559,000 rooms
- Repurchased 4.1 million shares for $1.0 billion in Q2
The company narrowed its full-year 2024 RevPAR growth forecast to 3-4% due to weaker conditions in Greater China and slightly softer expectations in the U.S. & Canada. Marriott expects to return approximately $4.3 billion to shareholders in 2024 through dividends and share repurchases.
Marriott Hotels has launched its first all-inclusive resort, Marriott Cancun, An All-Inclusive Resort, marking a new era for the brand. This debut addresses the growing demand for multigenerational travel experiences, with over 50% of parents planning trips involving grandparents and children. The resort features 450 newly redesigned guestrooms, including 124 premium ocean view rooms and 38 suites. Guests can enjoy 13 diverse dining options, a variety of daily and nightly activities, and a water park with thrilling slides and multiple pools. The property also offers nearly 24,813 square feet of renovated event space for weddings, family reunions, and corporate retreats.
To celebrate the grand opening, Marriott Cancun is offering a 20% discount on bookings made between July 30th and August 30th, 2024, for stays until January 11th, 2025. Guests will also receive a $50 USD resort credit for spa treatments.
Marriott International has launched HotelHelp, a pilot program donating short-term emergency stays for human trafficking survivors. The initiative is currently active in five U.S. cities and aims to expand to 25 cities across North America by January 2025. HotelHelp addresses the shortage of dedicated shelter beds for survivors, reducing the risk of re-trafficking.
The program leverages a proven system modeled after HospitalityHelps, which provided accommodations for Ukrainian refugees. Participating care providers can reserve up to five room nights per person on behalf of their clients. This initiative complements Marriott's existing efforts, including the Future in Training (FiT) Hospitality Survivor Employability Curriculum, which has trained over 160 survivors across 11 U.S. cities since July 2023.