Welcome to our dedicated page for Marriott Intl news (Ticker: MAR), a resource for investors and traders seeking the latest updates and insights on Marriott Intl 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 (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.
Marriott International (NASDAQ: MAR) announces continued growth in its Branded Residences portfolio and introduces ONVIA, a new Owner recognition platform. The company has 138 open residential locations and a pipeline of 123 projects, representing nearly 50% growth since 2019. Marriott offers 16 distinct residential brand offerings across luxury and premium brands.
The company's branded residence portfolio is forecasted to generate $1.7B in residential sales revenue for third-party developers in 2024. ONVIA aims to enhance experiences for Residence Owners with benefits like elevated Marriott Bonvoy status, preferred rates, and exclusive offers. Marriott's global expansion includes new projects in Europe, Middle East, Africa, Asia Pacific, United States, Canada, Caribbean, and Latin America.
The Ritz-Carlton, Turks and Caicos has appointed Louella Brezovar-van Veen as its new General Manager. Brezovar-van Veen brings over 30 years of hospitality experience, including a successful tenure at The Ritz-Carlton, Aruba.
She will oversee operations at the 147-room oceanfront resort on Grace Bay beach, which includes 69 residences. Under her previous management, significant revenue and ADR growth were achieved, alongside increased employee engagement.
Brezovar-van Veen aims to enhance the operational and commercial performance of the resort while offering exceptional service to travelers.
Marriott International (Nasdaq: MAR) will announce its Q2 2024 earnings on July 31, 2024, at 7:00 a.m. ET. A conference call hosted by President and CEO Anthony Capuano, and CFO Leeny Oberg, will follow at 8:30 a.m. ET. The call will be webcast on Marriott's investor relations website, where a replay and transcript will also be available for one year. The dial-in number for the call is 800-274-8461 (US Toll Free) or +1 203-518-9843 (Global) with conference ID MAR2Q24. A replay will be accessible until August 7, 2024.
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.