Marriott Intl Inc Stock Price, News & Analysis

The unveiling of The Tampa EDITION marks a significant development in Tampa, Florida, enhancing its status as a vibrant urban destination. This five-star hotel is part of the ambitious $3.5 billion Water Street Tampa project, spearheaded by Strategic Property Partners. Designed by Ian Schrager, the EDITION features 172 rooms, high-end restaurants, and wellness facilities, reflecting a blend of luxury and local culture. Set to preview on September 20, the hotel aims to redefine Tampa's urban landscape and elevate its international appeal as a gateway city in southern Florida.

Marriott International (Nasdaq: MAR) announced that Leeny Oberg, CFO and EVP of Business Operations, will speak at the 2022 Bank of America Securities Gaming and Lodging Conference on September 8 in New York. Her remarks are scheduled for 8:40 a.m. Eastern Time and will be available via a live webcast. Interested parties can access the webcast on Marriott's investor relations page, with availability until October 8. Marriott operates over 8,100 properties across 139 countries and territories, offering a range of hospitality services and the Marriott Bonvoy® loyalty program.

Marriott Hotels has opened the new Barranquilla Marriott Hotel in Barranquilla, Colombia, enhancing its presence in this vibrant cultural hub. The hotel features 191 guest rooms, modern amenities, and versatile meeting spaces, catering to both business and leisure travelers. Local cuisine is highlighted in two restaurants and a bar. The hotel, inspired by the rich local culture, aims to offer exceptional service and experiences. Marriott's ongoing expansion is evidenced by this addition to its portfolio, further establishing its foothold in Latin America.

W Hotels, a part of Marriott's portfolio, has opened the W Costa Navarino in Greece, marking its debut in the country. This 32-acre retreat, exclusively for adults, offers stunning Mediterranean views and sustainable design. Key features include locally inspired architecture, art installations, and varied dining options like W Lounge and Platía, which highlight Greek cuisine. The resort aims to blend luxury with local culture and is set to host diverse musical events. This opening is anticipated to enhance Marriott's presence in the Mediterranean region.

Marriott International reported strong second quarter 2022 results with RevPAR increasing by 70.6% worldwide compared to 2021. Adjusted diluted EPS rose to $1.80 from $0.79 a year ago. The company added nearly 17,000 rooms globally, expanding its development pipeline to 495,000 rooms. Share repurchases resumed, with $300 million in stock bought back. Net income reached $678 million, highlighting recovery momentum as travel demand picks up, particularly in the U.S. and international markets.

Marriott International has begun construction on the Gaylord Pacific Resort and Convention Center in Chula Vista, California. This $1.275 billion project will feature 1,600 hotel rooms, numerous dining options, a large convention center, and recreational facilities, with an expected opening in summer 2025. The construction is projected to create over 10,000 jobs temporarily and 4,000 permanent jobs. The project is anticipated to have an economic impact of more than $14 billion for California, highlighting a significant public-private partnership.

Marriott International has partnered with Gulf Islamic Investments to launch The Lucan, Autograph Collection Residences in Chelsea, London, with completion anticipated in 2024. This project marks the first standalone Autograph Collection Residences globally, featuring 31 luxury homes in a prime location. The residences will offer upscale amenities including a state-of-the-art gym, concierge services, and collaborative experiences with top local chefs. Marriott's residential portfolio continues to expand, with a projected growth of 60% by 2025, reinforcing its leadership in the branded residential segment.

The Ritz-Carlton New York, NoMad, opened on July 26, 2022, in Manhattan, featuring modern luxury and exceptional service. The hotel, developed by Flag Luxury Group, stands 500 feet tall with 250 rooms, including 19 suites and 16 penthouses. Dining options include Zaytinya and rooftop bar Nubeluz, both helmed by Michelin-starred Chef José Andrés. The hotel houses a spa, fitness center, and over 10,000 square feet of meeting space. It signifies an evolution of the Ritz-Carlton brand, aiming to enhance guest experiences in a vibrant community.

Marriott Bonvoy and American Express have enhanced the Marriott Bonvoy Business American Express Card for small business owners, effective July 21, 2022. Key updates include a 7% room rate discount on eligible bookings, 4X points at restaurants worldwide, and complimentary Gold Elite status, all while maintaining the $125 annual fee. New Card Members can earn 125,000 points after spending $5,000 within three months, available until August 31, 2022. This move responds to a strong interest from small business leaders for discounted travel options, as shown in a recent survey.