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Marriott Worldwide Reviews Third Quarter 2023 Outcomes



  • Third quarter 2023 comparable systemwide fixed greenback RevPAR elevated 8.8 % worldwide, 4.3 % within the U.S. & Canada, and 21.8 % in worldwide markets, in comparison with the 2022 third quarter;
  • Third quarter reported diluted EPS totaled $2.51, in comparison with reported diluted EPS of $1.94 within the year-ago quarter. Third quarter adjusted diluted EPS totaled $2.11, in comparison with third quarter 2022 adjusted diluted EPS of $1.69;
  • Third quarter reported internet earnings totaled $752 million, in comparison with reported internet earnings of $630 million within the year-ago quarter. Third quarter adjusted internet earnings totaled $634 million, in comparison with third quarter 2022 adjusted internet earnings of $551 million;
  • Adjusted EBITDA totaled $1,142 million within the 2023 third quarter, in comparison with third quarter 2022 adjusted EBITDA of $985 million;
  • The corporate added roughly 17,200 rooms globally through the third quarter, together with roughly 13,000 rooms in worldwide markets and greater than 4,900 conversion rooms;
  • On the finish of the quarter, Marriott’s worldwide improvement pipeline totaled greater than 3,200 properties and almost 557,000 rooms, together with roughly 40,300 of pipeline rooms authorized, however not but topic to signed contracts. Roughly 238,000 rooms within the pipeline had been underneath building as of the top of the third quarter;
  • Marriott repurchased 4.8 million shares of widespread inventory for $950 million through the third quarter. 12 months so far via October 31, the corporate has returned $3.7 billion to shareholders via dividends and share repurchases.

Marriott Worldwide, Inc. (NASDAQ: MAR) at the moment reported third quarter 2023 outcomes.

We’re extraordinarily happy with our ends in the quarter. Worldwide RevPAR[1] grew 9 % 12 months over 12 months, reflecting strong demand all over the world. Worldwide RevPAR elevated 22 %, with specific power in Asia Pacific. Each occupancy and price contributed to international RevPAR positive factors within the third quarter, and cross-border journey continued to rise.

Within the U.S. & Canada, RevPAR rose greater than 4 %, with many city markets displaying outsized development. Group and enterprise transient noticed mid-single digit lodge income positive factors within the quarter, largely pushed by price will increase. Leisure transient demand within the area has additionally remained strong, resulting in 4 % lodge income development for the section in comparison with the year-ago quarter.

Given the significant advantages we ship to house owners, demand for our manufacturers stays robust. By the primary three quarters of 2023, we’ve signed greater than 100,000 natural rooms, together with the MGM Resorts Worldwide deal, a formidable 60 % improve in comparison with the identical interval final 12 months. Even with 5 % internet rooms development within the final 4 quarters, our improvement pipeline continues to develop. Of our document 557,000-room pipeline, 43 % is underneath building.

With continued momentum in our enterprise all over the world, we’re elevating our full 12 months 2023 worldwide RevPAR development steerage to 14 to fifteen % 12 months over 12 months and anticipate to return $4.3 billion to $4.5 billion to shareholders via share repurchases and dividends. Anthony Capuano, President and Chief Government Officer

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About Marriott Worldwide

Marriott Worldwide, Inc. (NASDAQ: MAR) relies in Bethesda, Maryland, USA, and encompasses a portfolio of greater than 8,100 properties underneath 30 main manufacturers spanning 139 nations and territories. Marriott operates and franchises motels and licenses trip possession resorts all all over the world. The corporate gives Marriott Bonvoy®, its extremely awarded journey program. Join with us on Fb and @MarriottIntl on Twitter and Instagram.

About Marriott Bonvoy®

Marriott Bonvoy’s extraordinary portfolio gives famend hospitality in essentially the most memorable locations on the earth, with 31 manufacturers which might be tailor-made to each sort of journey. Members can earn factors for stays at motels and resorts, together with all-inclusive resorts and premium residence leases, and thru on a regular basis purchases with co-branded bank cards. Members can redeem their factors for experiences together with future stays, Marriott Bonvoy Moments™, or via companions for luxurious merchandise from Marriott Bonvoy Boutiques®. To enroll totally free or for extra details about Marriott Bonvoy, go to marriottbonvoy.com.

Melissa Froehlich Flood
Marriott





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