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) is a global hospitality leader operating iconic hotel brands across 140+ countries. This news hub provides investors and industry professionals with timely updates on corporate developments, strategic partnerships, and market performance.
Access official press releases, earnings reports, and analysis of MAR's asset-light business model, including franchise expansions and Marriott Bonvoy loyalty program enhancements. Our curated collection simplifies tracking of operational milestones across luxury, premium, and select-service hotel categories.
Discover updates on leadership changes, sustainability initiatives, and international market entries that shape MAR's position in the competitive lodging sector. Bookmark this page for streamlined monitoring of financial disclosures and brand portfolio developments critical to informed hospitality industry analysis.
Marriott International, Inc. (NASDAQ: MAR) has increased the maximum principal amount of its cash tender offer for certain notes from $800 million to $1 billion as of September 22, 2021. The company intends to purchase validly tendered Series EE Notes on a prorated basis due to the overwhelming response, with approximately 89.4% expected to be accepted. The Offer is set to expire at 11:59 p.m. on October 5, 2021, with early settlement anticipated on September 23, 2021.
Marriott International has announced an agreement with Progetto Majestic S.r.l. to open the first W Hotel in Tuscany, called W Florence, set to welcome guests in 2023. The hotel will boast 120 guest rooms, including 20 suites, and is strategically located near Florence's renowned art and dining. The project, which revitalizes a historical building, is part of Marriott's expansion of its luxury portfolio in Italy, aligning with the growing demand for the W brand.
Marriott International (NASDAQ: MAR) announces that Leeny Oberg, CFO, will speak at the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum on September 14, 2021, at approximately 11:45 a.m. ET. The event will be webcast live and accessible via the Marriott investor website. The webcast will remain available until October 14, 2021. With a portfolio of around 7,800 properties across 138 countries, Marriott continues to be a leader in the hospitality industry.
On September 8, 2021, Marriott International (NASDAQ: MAR) announced a cash offer to purchase up to $800 million in aggregate principal amount of its notes as part of a strategic debt management effort. The company expects to issue new notes to finance this offer. Acceptance of the notes will be prioritized by various levels, and holders must submit their notes by the Early Tender Time set for September 21, 2021. This move aims to extend the maturity profile of Marriott's debt portfolio, enhancing financial flexibility.
Tony Capuano, CEO of Marriott International (NASDAQ: MAR), will present at the 2021 Bank of America Securities Gaming and Lodging Conference on September 9, at 9:00 a.m. Eastern Time. The event will be webcast live, allowing investors and interested parties to tune in. Access the webcast via Marriott's investor relations page, and it will remain available until October 9, 2021. Marriott International operates approximately 7,800 properties under 30 brands across 138 countries, providing a comprehensive travel program through Marriott Bonvoy.
The Ritz-Carlton Orlando, Grande Lakes has partnered with Corsa HQ to offer luxury car rentals, enhancing its guest experience. Available vehicles include brands like Rolls-Royce and Lamborghini, with rental prices ranging from $395 to $1,195. Guests receive gift cards worth $50 or $100 based on their rental choice. This partnership follows a $30 million renovation of the hotel, which includes upgraded guest rooms and new amenities. Corsa HQ promises a seamless rental experience with professional detailing and concierge service, available for diverse occasions.
W Hotels Worldwide, part of Marriott International, has opened the W Philadelphia, a 51-story hotel in downtown Philadelphia. Celebrating the city's street art and musical heritage, it features 295 guest rooms with panoramic views, a wellness-focused AWAY Spa, and diverse dining options. The hotel incorporates local artistry and historical references, aiming to redefine luxury through its unique design and vibrant social spaces. General Manager Edward Baten emphasized the hotel's homage to Philadelphia's culture and the commitment to enhancing the city's hospitality scene.
Marriott International reported a significant rebound in its second quarter 2021 results, with worldwide RevPAR up 262.6% from Q2 2020. The company achieved a net income of $422 million, contrasting a net loss of $234 million a year prior, while diluted EPS reached $1.28 compared to a loss per share of $0.72 last year. Marriott added nearly 25,000 rooms to its global portfolio, pushing the total development pipeline to 2,750 properties. The company remains optimistic about future growth despite ongoing uncertainties from COVID-19 variants, highlighting strong recovery in demand, especially in the U.S. and China.
Marriott International announced the launch of an updated human trafficking awareness training on July 30, aligning with World Day Against Trafficking in Persons. The training aims to educate all hotel staff to recognize and respond to human trafficking by 2025. Enhanced features include scenario-based modules and a mobile-friendly design, developed with input from trafficking survivors. Over 850,000 associates have completed prior training since its inception in 2016. Marriott plans to donate this updated training to the broader hospitality industry in early 2022.
Marriott International (NASDAQ: MAR) announced the redemption of its $400 million 3.125% Series N Notes due October 15, 2021, on August 9, 2021. The redemption price will be 100% of the principal amount plus accrued interest. Post-redemption, these notes will cease to be outstanding and interest will stop accruing. The company highlighted the forward-looking nature of its statements regarding the redemption timeline, noting potential risks and uncertainties that could impact actual outcomes.
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