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 International's CEO, Arne Sorenson, is temporarily reducing his schedule to undergo treatment for pancreatic cancer, which he was diagnosed with in May 2019. Despite this, Sorenson will remain involved in the company and a member of the board of directors. During his absence, two experienced executives, Stephanie Linnartz and Tony Capuano, will share the oversight of Marriott's day-to-day operations. The leadership team, supported by the board, aims to ensure the company continues to operate smoothly during this period.
Marriott International (NASDAQ: MAR) will announce its fourth quarter 2020 earnings results on February 18, 2021, at 7:00 am ET. A subsequent conference call for investors will take place at 8:30 am ET on the same day, featuring CEO Arne Sorenson and CFO Leeny Oberg. Investors can access the call via the company's investor relations website, with a replay available until February 17, 2022. Marriott operates over 7,500 properties worldwide, focusing on hotels and vacation ownership resorts.
Marriott International (Nasdaq: MAR) plans to expand its Asia Pacific portfolio with nearly 100 property openings in 2021, building on a successful 2020 when it launched its 800th hotel in the region. 27,000 new rooms have entered the development pipeline, including the largest branded residences project featuring almost 4,200 units. The company anticipates strong demand recovery, particularly in Greater China, and is introducing new luxury offerings. The impressive pipeline reflects Marriott's resilience and adaptability amidst the evolving travel landscape.
The Ritz-Carlton Orlando, Grande Lakes has completed a $30 million renovation, enhancing 582 guest rooms, a luxury pool, and the Club Lounge. Scheduled for completion in February 2021, the redesigned accommodations feature modern technology and a nature-inspired aesthetic. Guests can enjoy curated experiences from January 29-31, 2021, costing $750 per person. The renovations align with CDC guidelines, promising a safe environment. Grande Lakes Orlando offers diverse amenities, including a golf course and multiple dining options, supporting an upscale resort experience.
Marriott International announced new COVID-19 testing and health protocols for meetings at selected hotels in the U.S., starting January 2021. These measures, part of the Connect with Confidence program, allow meeting professionals to tailor health options such as self-administered tests, on-site testing, and health screenings. This initiative enhances existing hygiene protocols established by the Global Cleanliness Council, aiming to boost confidence among attendees and meeting planners during the pandemic.
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Marriott International's CEO, Arne Sorenson, will speak at the Morgan Stanley Virtual Global Consumer & Retail Conference on December 1, 2020, at 1:00 p.m. ET. His remarks will be available via a live webcast, accessible through Marriott’s investor relations page. The recorded webcast will remain available until March 1, 2021.
Marriott, headquartered in Bethesda, Maryland, operates over 7,500 properties worldwide under 30 brands, offering services that include the Marriott Bonvoy travel program.
Marriott International (NASDAQ: MAR) announced a dramatic decline in third quarter 2020 performance due to COVID-19, with RevPAR down 65.9% globally. Reported diluted EPS was $0.31 versus $1.16 a year ago, while adjusted diluted EPS dropped to $0.06 from $1.47. Net income fell to $100 million compared to $387 million in 2019. Despite challenges, the company added over 19,000 rooms and reported a net liquidity of approximately $5.1 billion. CEO Arne Sorenson highlighted a positive demand trend and progress in cost management and operational adjustments amidst ongoing uncertainty.
Marriott International (NASDAQ: MAR) has launched a new program under Marriott Bonvoy offering flexible work options designed for remote workers. The program includes Day Pass, Stay Pass, and Play Pass packages, catering to individuals looking for alternatives to traditional home office environments. Data shows 42% of business professionals would consider hotel rooms for work. The offerings focus on amenities like reliable Wi-Fi, ample workspace, and access to hotel facilities. Currently available in select cities like Atlanta and New York, Marriott plans expansion to global markets.
Marriott International (Nasdaq: MAR) will release its third quarter 2020 earnings results on November 6, 2020, at 7:00 am ET. A conference call for investors will take place on the same day at 8:30 am ET, featuring President and CEO Arne Sorenson and CFO Leeny Oberg. The call will be accessible via Marriott's investor relations website and will have a listen-only option for media. A replay of the call will be available later that day until November 13, 2020.
Marriott operates over 7,400 properties globally under 30 brands.