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's Q3 2022 results show significant growth with a 36.3% increase in comparable systemwide constant dollar RevPAR globally compared to Q3 2021. The reported diluted EPS rose to $1.94, up from $0.67 in the previous year. Net income reached $630 million, a notable increase from $220 million in Q3 2021. The company added 14,000 rooms worldwide and returned $1.9 billion to shareholders year-to-date. The development pipeline includes over 3,000 properties. Upcoming expectations suggest continued demand growth, with global RevPAR projected to increase by 2% to 4% compared to 2019.
Marriott International has signed an agreement with AB Living to develop The St. Regis Costa Mujeres Resort in Mexico, expected to open in early 2025. This expansion underscores Marriott's commitment to growing its luxury St. Regis brand in prime leisure destinations. The resort will feature 158 guest rooms, 80 branded residential units, and a variety of amenities including dining options and a beach club. Located on a 3.5-hectare site, the resort aims to attract guests looking for upscale hospitality in the scenic Costa Mujeres area, near Cancun.
The Ritz-Carlton, South Beach, and Bal Harbour have appointed Brigette Bienvenu as the new Market Director of Sales and Marketing. Bienvenu, with over 20 years in hospitality, will lead the Sales and Marketing teams at both luxurious locations. Her career highlights include awards from Hilton for excellence in team performance. She aims to enhance both hotels' standings in the luxury market while providing exceptional service to guests. Previously, she served as Director of Sales and Marketing at W Hotels, bringing valuable experience to her new role.
Marriott International (NASDAQ: MAR) announced its agreement to acquire the City Express brand portfolio from Hoteles City Express for $100 million. This acquisition will add 152 hotels and 17,356 rooms to Marriott's portfolio in Latin America, enhancing its presence by 45% to 486 properties across 37 countries. The move marks Marriott's entry into the affordable midscale segment, which is anticipated to fuel growth and development in the region. The transaction is expected to close in H1 2023, pending approvals.
The Ritz-Carlton has launched The Ritz-Carlton Yacht Collection, marking its entry into the luxury yachting sector. The inaugural yacht, Evrima, set sail on October 15, 2022, from Barcelona to Nice, offering unique itineraries blending luxury hospitality with yachting freedom. Evrima accommodates up to 298 guests across 149 suites, featuring high-end amenities and personalized service. With voyages ranging from 7 to 10 nights, guests can explore destinations from the Mediterranean to South America.
Discover Puerto Rico and Marriott International have launched the Live Boricua Experience Packages, featuring culturally immersive rooms and local amenities aimed at enhancing visitor experiences. Available at select Marriott properties from October 15, 2022, to January 22, 2023, these packages focus on Puerto Rican culture by incorporating local brands and unique activities. Offerings include chocolate tastings, rum, and heritage tours, highlighting the island's diverse talent. This collaboration aims to showcase Puerto Rico's unique culture and local artisans.
Marriott International, Inc. (NASDAQ: MAR) is scheduled to report its third quarter 2022 earnings results on November 3, 2022, at 6:30 a.m. ET. A conference call will follow at 8:00 a.m. ET, featuring CEO Anthony Capuano and CFO Leeny Oberg discussing performance metrics. The call will be accessible via Marriott’s investor relations website and a replay will be available until November 2, 2023. Marriott operates over 8,100 properties globally, offering the Marriott Bonvoy® travel program.
Marriott International has signed an agreement with Bain Capital Credit and Omnam Group to introduce its EDITION Hotels brand to Lake Como, Italy. The hotel is set to open in 2025, featuring 145 guest rooms, including two penthouse suites, multiple restaurants, and a floating pool. The project aims to revitalize a 19th-century building while honoring its history. This partnership illustrates strong demand for luxury accommodations and supports Marriott's expansion in Europe, where it has over 719 properties.
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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.