Marriott Intl Inc Stock Price, News & Analysis

Marriott International (NASDAQ: MAR) announces its agreement with Grimit S.r.l. to establish The Ritz-Carlton, Bellagio, marking its inaugural property in Italy. This luxury hotel, expected to open in 2026, will undergo a transformation of the historic Hotel Grande Bretagne. The property will feature 59 rooms and 46 suites, alongside a destination spa, diverse dining options, and extensive gardens. Located on Lake Como, a renowned tourist destination, the hotel aims to restore the legacy of the former hotel and enhance Marriott’s luxury brand portfolio in Italy.

Marriott International (NASDAQ: MAR) announced on February 24, 2023, a new organizational structure and executive appointments to enhance growth. President and CEO Anthony Capuano aims to drive strategies benefiting customers and franchisees. Key appointments include Drew Pinto as Executive Vice President and Chief Revenue & Technology Officer, Peggy Fang Roe as Executive Vice President and Chief Customer Officer, and Tina Edmundson as President, Luxury. Additionally, Yibing Mao returns as President, Greater China. The company boasts a growth pipeline of approximately 280,000 hotel rooms internationally, indicating significant expansion potential.

Marriott International (NASDAQ: MAR) has partnered with the UK-based Internet Watch Foundation (IWF) to combat online child exploitation by blocking access to child sexual abuse material (CSAM) in its hotels. This initiative, the first of its kind in the hospitality industry, leverages Cisco's technology for effective filtering. Marriott aims to implement these measures across U.S. and Canadian hotels, following a successful pilot in November 2022, with global deployment expected by 2024. CEO Anthony Capuano emphasized Marriott's commitment to human rights, building upon previous anti-trafficking training for one million hotel associates.

Marriott International has announced the appointment of Saba Landmann as Senior Vice President for Global Brand and Portfolio PR, effective immediately. Landmann, previously with G-III Apparel Group, will lead communications for Marriott's extensive portfolio of nearly 8,200 properties across 30 brands. Her marketing expertise is expected to enhance consumer engagement strategies, especially as travel demand surges.

Tricia Primrose, Marriott's Executive Vice President, expressed confidence in Landmann's ability to connect with a diverse audience through innovative PR campaigns. Landmann will be based in Manhattan, contributing her extensive experience in global communications to strengthen the Marriott brand.

Marriott International (NASDAQ: MAR) reported strong financials for Q4 2022, with worldwide RevPAR growth of 28.8% compared to Q4 2021. Reported net income reached $673 million, up from $468 million in the previous year. Adjusted diluted EPS stood at $1.96, a significant increase from $1.30. The company added over 65,000 rooms globally in 2022, maintaining a robust development pipeline of over 3,000 properties. In 2022, Marriott repurchased 16.8 million shares for $2.6 billion and returned $2.9 billion to shareholders. Looking ahead, RevPAR is projected to grow by 30% to 32% in Q1 2023.

Marriott International (NASDAQ: MAR) announced a quarterly cash dividend of 40 cents per share, payable on March 31, 2023, to shareholders of record as of February 24, 2023. Additionally, the board appointed Anthony "Tony" Capuano as both President and CEO effective February 24, 2023, following the planned departure of former President Stephanie Linnartz to Under Armour. This announcement reflects Marriott's commitment to providing returns to shareholders while ensuring stable leadership amid ongoing industry challenges.

On January 23, 2023, at the Americas Lodging Investment Summit in Los Angeles, Marriott International (NASDAQ: MAR) announced strong growth in 2022, with 726 management and franchise agreements signed, representing a 21% increase from 2021. This signifies nearly 108,000 new rooms, aided by conversions contributing 20,500 rooms. Marriott's development pipeline boasts over 3,000 properties totaling more than 496,000 hotel rooms. 394 new properties were added, achieving a net increase of 3.1%, with significant activity in international markets. The company is expanding into the affordable midscale segment and enhancing its all-inclusive offerings, while its luxury portfolio continues to grow.

Marriott International (Nasdaq: MAR) will release its fourth quarter 2022 earnings on February 14, 2023, at 7:00 am ET. A conference call will follow at 8:30 am ET, featuring CEO Anthony Capuano and CFO Leeny Oberg, discussing the company's performance. Investors can access the call via Marriott's investor relations website, with a replay available for one year. Marriott operates nearly 8,200 properties in 138 countries and territories and offers the Marriott Bonvoy travel program. For further details, visit Marriott's official website.

Marriott International has launched online instant booking for group guest rooms and meeting spaces through GroupSync Marketplace, available at over 1,500 hotels in the U.S. and Canada. This integration with Groups360 simplifies the booking process for planners, allowing real-time access to group rates and inventory. The new capability reduces planning time and improves efficiency. Marriott aims to enhance customer experience further by enabling inventory visibility before RFP submission and expects to expand this service. Marriott is also celebrating this launch with a giveaway of 1 million Marriott Bonvoy points to incentivize bookings.