Consumer Discretionary

MARRIOTT INTERNATIONAL REPORTS STRONG FOURTH QUARTER AND FULL YEAR 2023 RESULTS PR Newswire BETHESDA, Md., Feb. 13, 2024 — Fourth quarter 2023 comparable systemwide constant dollar RevPAR increased 7.2 percent worldwide, 3.3 percent in the U.S. & Canada, and 17.4 percent in international markets, compared to the 2022 fourth quarter; — Fourth quarter reported diluted EPS totaled $2.87, compared to reported diluted EPS of $2.12 in the year-ago quarter. Fourth quarter adjusted diluted EPS totaled $3.57, compared to fourth quarter 2022 adjusted diluted EPS of $1.96; — Fourth quarter reported net income totaled $848 million, compared to reported net income of $673 million in the year-ago quarter. Fourth quarter adjusted net income totaled $1,055 million, compared to fourth quarter 2022 adjusted net income of $622 million; — Adjusted EBITDA totaled $1,197 million in the 2023 fourth quarter, compared to fourth quarter 2022 adjusted EBITDA of $1,090 million; — The company […]

Marriott Sees 2024 Net Rooms Growth 5.5%-6%.

Marriott Intl (NASDAQ:MAR) reported adjusted quarterly earnings of $3.57 per share which beat the analyst consensus estimate of $2.12 by 68.4 percent. This is a 82.14 percent increase over earnings of $1.96 per share from the same period last year. The company reported quarterly sales of $6.09 billion which missed the analyst consensus estimate of $6.20 billion by 1.69 percent. This is a 2.90 percent increase over sales of $5.92 billion the same period last year.

Marriott International is forecasting continued growth of a key revenue figure this year, but expects the pace of growth to cool off as the travel recovery enters a new phase. The Bethesda, Maryland, hotel operator reported a fourth-quarter profit of $848 million, or $2.87 a share, compared with $673 million, or $2.12 a share, in the same period last year. Adjusted earnings were $3.57 a share. Analysts surveyed by FactSet expected $2.12 a share. Revenue rose about 3% to $6.1 billion. Analysts expected $6.2 billion. Global revenue per available room–a key industry figure used to gauge the health of a portfolio–rose 7.2% in the quarter, including 3.3% in the U.S. and Canada. For 2024, Marriott is targeting adjusted earnings of $9.18 a share to $9.52 a share, below the $9.68 a share that analysts expected. The company expects RevPAR for the year to grow 3% to 5%, down from 15%

Marriott International (NASDAQ:MAR)  expects 2024 earnings per share of $9.18 to $9.52, but a consensus of analysts surveyed by FactSet were expecting earnings per share of $9.68. For the full year, the company expects worldwide revenue per available room to increase 3% to 5% vs 2023. That’s compared with a 15% jump in 2023.

Marriott (MAR) said its fourth-quarter net income increased by 27% to $848 million, or $2.87 a share, from $673 million, or $2.12 a share, in the year-ago quarter. Marriott’s adjusted fourth-quarter profit of $3.57 a share beat the FactSet consensus estimate of $2.12 a share. Fourth-quarter revenue increased to $6.1 billion from $5.9 billion but missed the consensus analyst estimate of $6.2 billion. Marriott said its hotel leisure revenue has recovered to exceed levels in 2019, the year before travel was affected by the COVID-19 pandemic. “While already significantly above 2019 levels, hotel leisure revenue rose again, up 2%,” the company said. “Business transient revenue at our hotels grew 3% from the year-ago quarter, with demand from large corporate customers continuing to make gains.” Looking ahead, Marriott expects adjusted first-quarter profit of $2.12 a share to $2.19 a share, below the FactSet consensus estimate of $2.30 a share. For 2024,

The following is a summary of the Marriott International, Inc. (MAR) Q4 2023 Earnings Call Transcript: Financial Performance: Marriott International noted a Q4 2023 revenue per available room (RevPAR) increase of over 3% YoY in the U.S. and Canada, and a 17% rise in international RevPAR. Total gross fee revenues rose by 10% to 1.24 billion underpinned by higher RevPAR, room additions, and substantial growth in co-brand credit card fees. Owned, lease, and other revenue net of direct expenses reached 151 million in Q4 2023. Adjusted EBITDA for Q4 2023 climbed 10% to approximately 1.2 billion, signaling a 21% rise YoY. The company noted approximately $267 million of tax benefits due to favorable discrete items in 2023. For 2024, capital returns to shareholders could range from $4.1 billion to $4.3 billion, inclusive of a $500 million cash out for the Sheraton Grand purchase in Chicago. Business Progress: Marriott’s global RevPAR

Marriott Says First Of MGM Properties Joined Co’s System In Jan 2024, And Remaining Properties Are Expected To Join By The End Of Q1 2024.