Marriott Intl Inc Stock Price, News & Analysis

Arne Sorenson, CEO of Marriott International (Nasdaq: MAR), will speak at a live webcast hosted by Bank of America Securities on September 10, 2020, at approximately 10:00 a.m. ET. Interested parties can access the webcast via the Marriott investor relations website. The event will be available for replay until December 10, 2020. Marriott operates over 7,400 properties across 135 countries, providing hospitality and vacation ownership services. For more details, visit Marriott's investor site.

Marriott International, Inc. (Nasdaq: MAR) has announced its decision to withdraw its common stock from NYSE Chicago effective September 20, 2020, to reduce administrative costs. Trading of its common stock will be suspended on September 21, 2020, before the market opens. The company will maintain its listing on the Nasdaq Global Select Market. With over 7,400 properties across 135 countries, Marriott focuses on operating and franchising hotels along with vacation ownership resorts, while offering the Marriott Bonvoy™ travel program.

On August 28, 2020, Marriott International (NASDAQ: MAR) announced the opening of a dual-branded hotel in Yinchuan, China, comprising JW Marriott and Courtyard by Marriott. The hotel features 513 rooms and modern amenities, designed to cater to both luxury and business travelers. Located near major cultural attractions, it aims to enhance Marriott's presence in northwest China. The President of Greater China, Henry Lee, emphasized the significance of this opening amidst growing travel demand in the region. The hotel offers unique dining experiences and versatile event spaces.

Marriott International, based in Bethesda, Maryland, has launched new digital content to support meeting planners amid ongoing COVID-19 concerns. This initiative, part of the Commitment to Clean, includes enhanced sanitation guidelines, operational training, and technology integration. Key adjustments for meetings include mandatory face coverings, reduced seating capacities, and frequent cleaning. Marriott aims to foster confidence in hosting events through comprehensive resources available at MarriottBonvoyEvents.com, ensuring safety and quality standards are met in its extensive portfolio of over 7,400 properties.

Marriott International reported a significant decline in performance for the second quarter of 2020 due to COVID-19, with worldwide RevPAR down 84.4% and a diluted loss per share of $0.72. Adjusted EBITDA fell to $61 million from $952 million in the previous year. The company added over 11,400 rooms and maintained a strong development pipeline of 510,000 rooms. As of the end of Q2, net liquidity was approximately $4.4 billion. CEO Arne Sorenson noted early signs of demand recovery, particularly in Greater China, and emphasized efforts to bolster financial stability amid ongoing uncertainty.

Marriott International (Nasdaq: MAR) is set to report its second quarter 2020 earnings results on August 10, 2020, at 7:00 am ET. An accompanying conference call will take place at 8:30 am ET, featuring key executives discussing the company’s performance. The investor relations website will provide a live webcast of the event and a replay available until August 10, 2021. Marriott operates over 7,400 properties globally, managing a diversified portfolio across 30 brands.

Marriott International (NASDAQ: MAR) announces the opening of its 800th property in Asia Pacific, the JW Marriott Nara, Japan, marking the brand's debut in the country. The company expects additional brand launches, including EDITION and Aloft, in Japan by year-end. Marriott continues to expand in Asia Pacific, signing 73 new properties in the first half of 2020, with 43 in Greater China. The brand's reputation and innovative franchise model are boosting confidence among owners and franchisees despite the challenges posed by COVID-19.

On June 22, 2020, Marriott International (NASDAQ: MAR) announced the results of its debt tender offers, where it accepted all validly tendered 2022 Notes and none of the 2021 Notes. The offers expired on June 19, 2020, with a total consideration not exceeding $1 billion. A total of $1,581,000 in aggregate principal amount of 2022 Notes were tendered, with holders of accepted notes to receive cash consideration and accrued interest on June 24, 2020. Deutsche Bank and Goldman Sachs acted as Dealer Managers for these offers.

Marriott International (NASDAQ: MAR) announced cash offers to purchase all outstanding Notes, totaling up to $1 billion. The Offers, detailed in the Offer to Purchase dated June 15, 2020, are aimed at retiring specific series of Notes due in 2021 and 2022. Key dates include the expiration on June 19, 2020, and settlement expected on June 22, 2020. The acceptance of Notes will be prioritized based on a defined Acceptance Priority Level. Marriott reserves the right to amend or terminate the Offers, which are not conditional on any minimum amount of Notes being tendered.