Category: North America & West Indies / Carribean islands - United States - Industry economy -
Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2016-04-29
- First quarter adjusted diluted EPS totaled $0.87, a 19 percent increase over prior year results;
- North American comparable systemwide constant dollar RevPAR rose 2.4percent in the first quarter;
- On a constant dollar basis, worldwide comparable systemwide RevPAR rose 2.6 percent in the first quarter;
- The company’s adjusted operating income margin increased to 52 percent compared to 48 percent in the year-ago quarter;
- At the end of the first quarter, the company’s worldwide development pipeline increased to more than 275,000 rooms, including approximately 29,000 rooms approved, but not yet subject to signed contracts;
- More than 10,000 rooms were added during the first quarter, including 1,500 rooms converted from competitor brands and over 3,300 rooms in international markets;
- Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $458 million in the quarter, a 7 percent increase over first quarter 2015 adjusted EBITDA;
- Acquisition of Starwood Hotels & Resorts Worldwide is on track to close mid-2016.
Marriott International, Inc. (NASDAQ: MAR) today reported first quarter 2016 results.
First quarter 2016 adjusted net income totaled $226 million, a 9 percent increase over 2015 first quarter net income. Adjusted diluted earnings per share (EPS) in the first quarter totaled $0.87, a 19 percent increase from diluted EPS in the year-ago quarter. Adjusted net income and adjusted diluted EPS for the first quarter of 2016 exclude $10 million ($7 million after-tax and $0.02 per diluted share) of transition and transaction costs related to the Starwood acquisition. On February 17, 2016, the company forecasted first quarter diluted EPS of $0.81 to $0.85, which did not include transition and transaction costs related to the Starwood acquisition.
Reported net income totaled $219 million in the first quarter of 2016 compared to $207 million in the year-ago quarter. Reported diluted EPS was $0.85 in the first quarter of 2016 compared to $0.73 in the first quarter of 2015.
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