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MARRIOTT INTERNATIONAL REPORTS OUTSTANDING THIRD QUARTER 2022 RESULTS

Third quarter 2022 comparable systemwide constant dollar RevPAR increased 36.3 percent worldwide, 28.5 percent in the U.S. & Canada, and 66.1 percent in international markets, compared to the 2021 third quarter;

MARRIOTT INTERNATIONAL REPORTS OUTSTANDING THIRD QUARTER 2022 RESULTS

Third quarter 2022 comparable systemwide constant dollar RevPAR increased 36.3 percent worldwide, 28.5 percent in the U.S. & Canada, and 66.1 percent in international markets, compared to the 2021 third quarter;

Category: Worldwide - Industry economy - Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2022-11-04


  • Third quarter 2022 comparable systemwide constant dollar RevPAR increased 1.8 percent worldwide and 3.5 percent in the U.S. & Canada, while RevPAR declined 2.4 percent in international markets, compared to the 2019 third quarter;
  • Third quarter reported diluted EPS totaled $1.94, compared to reported diluted EPS of $0.67 in the year-ago quarter. Third quarter adjusted diluted EPS totaled $1.69, compared to third quarter 2021 adjusted diluted EPS of $0.99;
  • Third quarter reported net income totaled $630 million, compared to reported net income of $220 million in the year-ago quarter. Third quarter adjusted net income totaled $551 million, compared to third quarter 2021 adjusted net income of $327 million;
  • Adjusted EBITDA totaled $985 million in the 2022 third quarter, compared to third quarter 2021 adjusted EBITDA of $683 million;
  • The company added roughly 14,000 rooms globally during the third quarter, including approximately 8,700 rooms in international markets and nearly 3,900 conversion rooms;
  • At quarter end, Marriott’s worldwide development pipeline totaled over 3,000 properties and more than 502,000 rooms, including roughly 33,300 rooms approved, but not yet subject to signed contracts. Approximately 204,800 rooms in the pipeline were under construction as of the end of the 2022 third quarter;
  • During the third quarter, Marriott repurchased 6.2 million shares of common stock for $950 million. Year-to-date through October 31, the company has returned $1.9 billion to shareholders.
Marriott International, Inc., (NASDAQ: MAR) today reported third quarter 2022 results.

Anthony Capuano, Chief Executive Officer, said, “We are very pleased to report another quarter of outstanding results. Global RevPAR1 more than fully recovered, rising nearly 2 percent above 2019. In the third quarter, RevPAR compared to 2019 improved sequentially from the second quarter in every region around the world.

“In the U.S. & Canada, our largest region, RevPAR exceeded 2019 levels by 3.5 percent in the third quarter. Occupancy in the region has been rising throughout the year, reaching 72 percent in September, just 2 percentage points below the same month in 2019. Leisure transient demand remained very robust, and group RevPAR more than fully recovered to 2019 levels in the quarter. Business transient demand, though still lagging in recovery, continued to improve.

“Our EMEA and CALA regions posted nearly 10 percent and 18 percent third quarter RevPAR growth over 2019, respectively. Demand in these regions was boosted by the strong U.S. dollar and the ramping of cross-border travel.

“In mid-October, we announced that we signed an agreement to acquire the City Express brand portfolio, marking our entry into the affordable midscale segment. We see meaningful opportunities to further expand the brand in the CALA region and globally, as we have successfully done with other brand acquisitions. Upon closing, we look forward to offering our guests more stay options and our owners and franchisees new opportunities to grow their portfolios.

“Our award-winning loyalty program, Marriott Bonvoy, hit 173 million members at the end of September. During the quarter, Bonvoy member penetration achieved record highs, reaching 60 percent in the U.S. & Canada and 53 percent globally. Co-brand cardholder acquisitions and total card spending worldwide have continued to grow meaningfully, increasing our third quarter co-brand card fees more than 20 percent compared to the year-ago quarter.

“While we are carefully monitoring macroeconomic trends, bookings across all our customer segments remain strong, contributing to the ongoing momentum in our business. We expect continued demand growth around the world in the fourth quarter and anticipate that global RevPAR could increase 2 percent to 4 percent compared to 2019.

“With our solid financial results and strong cash generation, we have already returned $1.9 billion to shareholders year-to-date through October 31. For full year 2022, we now expect to return more than $2.7 billion to our shareholders through dividends and share repurchases.”

Marriott International Reports Outstanding Third Quarter 2022 Outlook

Marriott International Reports Outstanding Third Quarter 2022 Outlook
Photo credit © Marriott International




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