- Second quarter 2024 comparable systemwide constant dollar RevPAR increased 4.9 percent worldwide, 3.9 percent in the U.S. & Canada, and 7.4 percent in international markets, compared to the 2023 second quarter;
- Second quarter reported diluted EPS totaled $2.69, compared to reported diluted EPS of $2.38 in the year-ago quarter. Second quarter adjusted diluted EPS totaled $2.50, compared to second quarter 2023 adjusted diluted EPS of $2.26;
- Second quarter reported net income totaled $772 million, compared to reported net income of $726 million in the year-ago quarter. Second quarter adjusted net income totaled $716 million, compared to second quarter 2023 adjusted net income of $690 million;
- Adjusted EBITDA totaled $1,324 million in the 2024 second quarter, compared to second quarter 2023 adjusted EBITDA of $1,219 million;
- The company added roughly 15,500 net rooms during the quarter;
- At the end of the quarter, Marriott's worldwide development pipeline totaled approximately 3,500 properties and more than 559,000 rooms, including roughly 33,000 pipeline rooms approved, but not yet subject to signed contracts. Over 209,000 rooms in the pipeline were under construction as of the end of the second quarter;
- Marriott repurchased 4.1 million shares of common stock for $1.0 billion in the second quarter. Year to date through July 29, the company has returned $2.8 billion to shareholders through dividends and share repurchases.
For a summary of second quarter highlights, please visit: https://news.marriott.com/static-assets/component-resources/newscenter/earnings/2024/20240731-q2-2024-infographic.pdf.
BETHESDA, Md., July 31, 2024 /PRNewswire/ -- Marriott International, Inc. (Nasdaq: MAR) today reported second quarter 2024 results.
Anthony Capuano, President and Chief Executive Officer, said, "Marriott reported strong second quarter results, with net rooms up 6 percent year over year and worldwide RevPAR1 growth of nearly 5 percent, as consumers continued to prioritize travel. International RevPAR increased more than 7 percent, with Asia Pacific excluding China leading the way, posting an impressive 13 percent RevPAR increase from the year-ago quarter.
"In the U.S. & Canada, second quarter RevPAR grew nearly 4 percent, with all customer segments growing versus the prior year quarter. Group RevPAR rose nearly 10 percent year over year, with both rate and occupancy increasing in the mid-single digits.
"With a membership base of over 210 million members and growing, Marriott Bonvoy is a key competitive advantage. We remain focused on enhancing the loyalty program's benefits and finding new ways to engage with our members both on and off property. In June, we announced a collaboration with Starbucks. The number of members who have linked their accounts is already well exceeding our expectations.
"Owner preference for our brands remains strong. We signed nearly 31,000 rooms in the quarter, 75 percent of which were in international markets. Our momentum around conversions continued, accounting for 37 percent of room additions in the quarter. We continue to expand our industry leading global portfolio, and our expectation for net rooms growth remains at 5.5 to 6 percent for full year 2024.
"With our solid financial results and strong cash generation, we have already returned $2.8 billion to shareholders year-to-date through July 29. We expect to return approximately $4.3 billion to our shareholders in 2024 through share repurchases and dividends."
Second Quarter 2024 ResultsBase management and franchise fees totaled $1,148 million in the 2024 second quarter, a 9 percent increase compared to base management and franchise fees of $1,057 million in the year-ago quarter. The increase is primarily attributable to RevPAR increases and unit growth. Non-RevPAR-related franchise fees in the 2024 second quarter totaled $234 million, compared to $206 million in the year-ago quarter. The increase was largely driven by a 10 percent increase in co-branded credit card fees, as well as $13 million of higher residential branding fees.
Incentive management fees totaled $195 million in the 2024 second quarter, compared to $193 million in the 2023 second quarter, and were impacted by weaker results in Greater China, as well as unfavorable foreign exchange. Managed hotels in international markets contributed more than 60 percent of the incentive fees earned in the quarter.
Owned, leased, and other revenue, net of direct expenses, totaled $99 million in the 2024 second quarter, compared to $103 million in the year-ago quarter.
General, administrative, and other expenses for the 2024 second quarter totaled $248 million, compared to $240 million in the year-ago quarter.
Interest expense, net, totaled $164 million in the 2024 second quarter, compared to $141 million in the year-ago quarter. The increase was largely due to higher interest expense associated with higher debt balances.
Marriott's reported operating income totaled $1,195 million in the 2024 second quarter, compared to 2023 second quarter reported operating income of $1,096 million. Reported net income totaled $772 million in the 2024 second quarter, compared to 2023 second quarter reported net income of $726 million. Reported diluted earnings per share (EPS) totaled $2.69 in the quarter, compared to reported diluted EPS of $2.38 in the year-ago quarter.
Adjusted operating income in the 2024 second quarter totaled $1,120 million, compared to 2023 second quarter adjusted operating income of $1,043 million. Second quarter 2024 adjusted net income totaled $716 million, compared to 2023 second quarter adjusted net income of $690 million. Adjusted diluted EPS in the 2024 second quarter totaled $2.50, compared to adjusted diluted EPS of $2.26 in the year-ago quarter.
Adjusted results excluded cost reimbursement revenue, reimbursed expenses and merger-related charges and other expenses. See page A-3 and page A-11 of the press release schedules for the calculation of adjusted results and the manner in which the adjusted measures are determined in this press release.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled $1,324 million in the 2024 second quarter, compared to second quarter 2023 adjusted EBITDA of $1,219 million. See page A-11 of the press release schedules for the adjusted EBITDA calculation.
Selected Performance InformationThe company added roughly 15,500 net rooms during the quarter.
At the end of the quarter, Marriott's global system totaled nearly 9,000 properties, with roughly 1,659,000 rooms.
At the end of the quarter, the company's worldwide development pipeline totaled 3,509 properties with more than 559,000 rooms, including 208 properties with roughly 33,000 rooms approved for development, but not yet subject to signed contracts. The quarter-end pipeline included 1,127 properties with over 209,000 rooms under construction. Fifty-seven percent of rooms in the quarter-end pipeline are in international markets.
In the 2024 second quarter, worldwide RevPAR increased 4.9 percent (a 4.0 percent increase using actual dollars) compared to the 2023 second quarter. RevPAR in the U.S. & Canada increased 3.9 percent (a 3.9 percent increase using actual dollars), and RevPAR in international markets increased 7.4 percent (a 4.2 percent increase using actual dollars).
Balance Sheet & Common StockAt the end of the quarter, Marriott's total debt was $13.1 billion and cash and equivalents totaled $0.3 billion, compared to $11.9 billion in debt and $0.3 billion of cash and equivalents at year-end 2023.
Year to date through July 29, the company has repurchased 10.4 million shares for $2.5 billion.
Company OutlookThe company's updated outlook includes a narrowing of the RevPAR growth range for full year 2024, primarily as a result of a weaker operating environment in Greater China, as well as marginally softer expectations in the U.S. & Canada.
Third Quarter 2024 vs Third Quarter 2023 |
Full Year 2024 vs Full Year 2023 |
|
Comparable systemwide constant $ RevPAR growth |
||
Worldwide |
3% to 4% |
3% to 4% |
Year-End 2024 vs Year-End 2023 |
||
Net rooms growth |
5.5% to 6% |
|
($ in millions, except EPS) |
Third Quarter 2024 |
Full Year 2024 |
Gross fee revenues |
$1,275 to $1,290 |
$5,130 to $5,180 |
Owned, leased, and other revenue, net of direct expenses |
Approx. $75 |
$345 to $350 |
General, administrative, and other expenses |
$250 to $240 |
$1,030 to $1,020 |
Adjusted EBITDA1,2 |
$1,225 to $1,250 |
$4,950 to $5,015 |
Adjusted EPS – diluted2,3 |
$2.27 to $2.33 |
$9.23 to $9.40 |
Investment spending4 |
$1,000 to $1,200 |
|
Capital return to shareholders5 |
Approx. $4,300 |
1 |
See page A-12 and page A-13 of the press release schedules for the adjusted EBITDA calculations. |
|
2 |
Adjusted EBITDA and Adjusted EPS – diluted for third quarter and full year 2024 do not include cost reimbursement revenue, reimbursed expenses, merger-related charges and other expenses, or any asset sales that may occur during the year, each of which the company cannot forecast with sufficient accuracy and without unreasonable efforts, and which may be significant. |
|
3 |
Assumes the level of capital return to shareholders noted above. |
|
4 |
Includes capital and technology expenditures, loan advances, contract acquisition costs, and other investing activities. |
|
5 |
Factors in the purchase of the Sheraton Grand Chicago and underlying land for $500 million, $200 million of which is included in investment spending. Assumes the level of investment spending noted above and that no asset sales occur during the year. |
Marriott International, Inc. (Nasdaq: MAR) will conduct its quarterly earnings review for the investment community and news media on Wednesday, July 31, 2024, at 8:30 a.m. Eastern Time (ET). The conference call will be webcast simultaneously via Marriott's investor relations website at http://www.marriott.com/investor, click on "Events & Presentations" and click on the quarterly conference call link. A replay will be available at that same website until July 31, 2025.
The telephone dial-in number for the conference call is US Toll Free: 800-274-8461, or Global: +1 203-518-9843. The conference ID is MAR2Q24. A telephone replay of the conference call will be available from 1:00 p.m. ET, Wednesday, July 31, 2024, until 8:00 p.m. ET, Wednesday, August 7, 2024. To access the replay, call US Toll Free: 800-695-1564 or Global: +1 402-530-9025.
Note on forward-looking statements: All statements in this press release and the accompanying schedules are made as of July 31, 2024. We undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise. This press release and the accompanying schedules contain "forward-looking statements" within the meaning of federal securities laws, including statements related to our RevPAR, rooms growth and other financial metric estimates, outlook and assumptions; shareholder returns; our Marriott Bonvoy program; our development pipeline; owner preference for our brands; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including the risk factors that we describe in our Securities and Exchange Commission filings, including our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release.
Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 9,000 properties across more than 30 leading brands in 141 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.
Marriott encourages investors, the media, and others interested in the company to review and subscribe to the information Marriott posts on its investor relations website at www.marriott.com/investor or Marriott's news center website at www.marriottnewscenter.com, which may be material. The contents of these websites are not incorporated by reference into this press release or any report or document Marriott files with the SEC, and any references to the websites are intended to be inactive textual references only.
1All occupancy, Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR) statistics and estimates are systemwide constant dollar. Unless otherwise stated, all changes refer to year-over-year changes for the comparable period. Occupancy, ADR and RevPAR comparisons between 2024 and 2023 reflect properties that are comparable in both years.
IRPR#1
Tables follow
MARRIOTT INTERNATIONAL, INC. |
|
PRESS RELEASE SCHEDULES |
|
TABLE OF CONTENTS |
|
QUARTER 2, 2024 |
|
Consolidated Statements of Income - As Reported |
A-1 |
Non-GAAP Financial Measures |
A-3 |
Total Lodging Products by Ownership Type |
A-4 |
Total Lodging Products by Tier |
A-6 |
Key Lodging Statistics |
A-8 |
Adjusted EBITDA |
A-12 |
Adjusted EBITDA Forecast - Third Quarter 2024 |
A-13 |
Adjusted EBITDA Forecast - Full Year 2024 |
A-14 |
Explanation of Non-GAAP Financial and Performance Measures |
A-15 |
MARRIOTT INTERNATIONAL, INC. |
|||||
CONSOLIDATED STATEMENTS OF INCOME - AS REPORTED |
|||||
SECOND QUARTER 2024 AND 2023 |
|||||
($ in millions except per share amounts, unaudited) |
|||||
As Reported |
As Reported |
Percent |
|||
Three Months Ended |
Three Months Ended |
Better/(Worse) |
|||
June 30, 2024 |
June 30, 2023 |
Reported 2024 vs. 2023 |
|||
REVENUES |
|||||
Base management fees |
$ 330 |
$ 318 |
4 |
||
Franchise fees1 |
818 |
739 |
11 |
||
Incentive management fees |
195 |
193 |
1 |
||
Gross Fee Revenues |
1,343 |
1,250 |
7 |
||
Contract investment amortization2 |
(27) |
(22) |
(23) |
||
Net Fee Revenues |
1,316 |
1,228 |
7 |
||
Owned, leased, and other revenue3 |
395 |
390 |
1 |
||
Cost reimbursement revenue4 |
4,728 |
4,457 |
6 |
||
Total Revenues |
6,439 |
6,075 |
6 |
||
OPERATING COSTS AND EXPENSES |
|||||
Owned, leased, and other - direct5 |
296 |
287 |
(3) |
||
Depreciation, amortization, and other6 |
47 |
48 |
2 |
||
General, administrative, and other7 |
248 |
240 |
(3) |
||
Merger-related charges and other |
8 |
38 |
79 |
||
Reimbursed expenses4 |
4,645 |
4,366 |
(6) |
||
Total Expenses |
5,244 |
4,979 |
(5) |
||
OPERATING INCOME |
1,195 |
1,096 |
9 |
||
Gains and other income, net8 |
4 |
2 |
100 |
||
Interest expense |
(173) |
(140) |
(24) |
||
Interest income |
9 |
(1) |
|
||
Equity in earnings9 |
5 |
7 |
(29) |
||
INCOME BEFORE INCOME TAXES |
1,040 |
964 |
8 |
||
Provision for income taxes |
(268) |
(238) |
(13) |
||
NET INCOME |
$ 772 |
$ 726 |
6 |
||
EARNINGS PER SHARE |
|||||
Earnings per share - basic |
$ 2.70 |
$ 2.39 |
13 |
||
Earnings per share - diluted |
$ 2.69 |
$ 2.38 |
13 |
||
Basic Shares |
285.8 |
303.6 |
|||
Diluted Shares |
286.7 |
305.0 |
|||
Calculated percentage is not meaningful. |
|||||
1 Franchise fees include fees from our franchise and license agreements, application and relicensing fees, timeshare and yacht fees, co-branded credit card fees, and residential branding fees. |
|||||
2 Contract investment amortization includes amortization of capitalized costs to obtain management, franchise, and license contracts and any related impairments. |
|||||
3 Owned, leased, and other revenue includes revenue from the properties we own or lease, termination fees, and other revenue. |
|||||
4 Cost reimbursement revenue includes reimbursements from properties for property-level and centralized programs and services that we operate for the benefit of our property owners. Reimbursed expenses include costs incurred by Marriott for certain property-level operating expenses and centralized programs and services. |
|||||
5 Owned, leased, and other - direct expenses include operating expenses related to our owned or leased hotels, including lease payments and pre-opening expenses. |
|||||
6 Depreciation, amortization, and other expenses include depreciation for fixed assets, amortization of capitalized costs incurred to acquire management, franchise, and license agreements, and any related impairments, accelerations, or write-offs. |
|||||
7 General, administrative, and other expenses include our corporate and business segments overhead costs and general expenses. |
|||||
8 Gains and other income, net includes gains and losses on the sale of real estate, the sale of joint venture interests and other investments, and adjustments from other equity investments. |
|||||
9 Equity in earnings include our equity in earnings or losses of unconsolidated equity method investments. |
|||||
A-1 |
MARRIOTT INTERNATIONAL, INC. |
|||||
CONSOLIDATED STATEMENTS OF INCOME - AS REPORTED |
|||||
SECOND QUARTER YEAR-TO-DATE 2024 AND 2023 |
|||||
($ in millions except per share amounts, unaudited) |
|||||
As Reported |
As Reported |
Percent |
|||
Six Months Ended |
Six Months Ended |
Better/(Worse) |
|||
June 30, 2024 |
June 30, 2023 |
Reported 2024 vs. 2023 |
|||
REVENUES |
|||||
Base management fees |
$ 643 |
$ 611 |
5 |
||
Franchise fees1 |
1,506 |
1,378 |
9 |
||
Incentive management fees |
404 |
394 |
3 |
||
Gross Fee Revenues |
2,553 |
2,383 |
7 |
||
Contract investment amortization2 |
(50) |
(43) |
(16) |
||
Net Fee Revenues |
2,503 |
2,340 |
7 |
||
Owned, leased, and other revenue3 |
752 |
746 |
1 |
||
Cost reimbursement revenue4 |
9,161 |
8,604 |
6 |
||
Total Revenues |
12,416 |
11,690 |
6 |
||
OPERATING COSTS AND EXPENSES |
|||||
Owned, leased, and other - direct5 |
582 |
568 |
(2) |
||
Depreciation, amortization, and other6 |
92 |
92 |
— |
||
General, administrative, and other7 |
509 |
442 |
(15) |
||
Merger-related charges and other |
16 |
39 |
59 |
||
Reimbursed expenses4 |
9,146 |
8,502 |
(8) |
||
Total Expenses |
10,345 |
9,643 |
(7) |
||
OPERATING INCOME |
2,071 |
2,047 |
1 |
||
Gains and other income, net8 |
8 |
5 |
60 |
||
Interest expense |
(336) |
(266) |
(26) |
||
Interest income |
19 |
14 |
36 |
||
Equity in earnings9 |
5 |
8 |
(38) |
||
INCOME BEFORE INCOME TAXES |
1,767 |
1,808 |
(2) |
||
Provision for income taxes |
(431) |
(325) |
(33) |
||
NET INCOME |
$ 1,336 |
$ 1,483 |
(10) |
||
EARNINGS PER SHARE |
|||||
Earnings per share - basic |
$ 4.64 |
$ 4.84 |
(4) |
||
Earnings per share - diluted |
$ 4.62 |
$ 4.81 |
(4) |
||
Basic Shares |
288.1 |
306.6 |
|||
Diluted Shares |
289.1 |
308.0 |
|||
1 Franchise fees include fees from our franchise and license agreements, application and relicensing fees, timeshare and yacht fees, co-branded credit card fees, and residential branding fees. |
|||||
2 Contract investment amortization includes amortization of capitalized costs to obtain management, franchise, and license contracts and any related impairments. |
|||||
3 Owned, leased, and other revenue includes revenue from the properties we own or lease, termination fees, and other revenue. |
|||||
4 Cost reimbursement revenue includes reimbursements from properties for property-level and centralized programs and services that we operate for the benefit of our property owners. Reimbursed expenses include costs incurred by Marriott for certain property-level operating expenses and centralized programs and services. |
|||||
5 Owned, leased, and other - direct expenses include operating expenses related to our owned or leased hotels, including lease payments and pre-opening expenses. |
|||||
6 Depreciation, amortization, and other expenses include depreciation for fixed assets, amortization of capitalized costs incurred to acquire management, franchise, and license agreements, and any related impairments, accelerations, or write-offs. |
|||||
7 General, administrative, and other expenses include our corporate and business segments overhead costs and general expenses. |
|||||
8 Gains and other income, net includes gains and losses on the sale of real estate, the sale of joint venture interests and other investments, and adjustments from other equity investments. |
|||||
9 Equity in earnings include our equity in earnings or losses of unconsolidated equity method investments. |
|||||
A-1 (Cont.) |
.
MARRIOTT INTERNATIONAL, INC. |
|||||||||||
NON-GAAP FINANCIAL MEASURES |
|||||||||||
($ in millions except per share amounts) |
|||||||||||
The following table presents our reconciliations of Adjusted operating income, Adjusted operating income margin, Adjusted net income, and Adjusted diluted earnings per share, to the most directly comparable GAAP measure. Adjusted total revenues is used in the determination of Adjusted operating income margin. |
|||||||||||
Three Months Ended |
Six Months Ended |
||||||||||
Percent |
Percent |
||||||||||
June 30, |
June 30, |
Better/ |
June 30, |
June 30, |
Better/ |
||||||
2024 |
2023 |
(Worse) |
2024 |
2023 |
(Worse) |
||||||
Total revenues, as reported |
$ 6,439 |
$ 6,075 |
$ 12,416 |
$ 11,690 |
|||||||
Less: Cost reimbursement revenue |
(4,728) |
(4,457) |
(9,161) |
(8,604) |
|||||||
Adjusted total revenues† |
1,711 |
1,618 |
3,255 |
3,086 |
|||||||
Operating income, as reported |
1,195 |
1,096 |
2,071 |
2,047 |
|||||||
Less: Cost reimbursement revenue |
(4,728) |
(4,457) |
(9,161) |
(8,604) |
|||||||
Add: Reimbursed expenses |
4,645 |
4,366 |
9,146 |
8,502 |
|||||||
Add: Merger-related charges and other |
8 |
38 |
16 |
39 |
|||||||
Adjusted operating income† |
1,120 |
1,043 |
7 % |
2,072 |
1,984 |
4 % |
|||||
Operating income margin |
19 % |
18 % |
17 % |
18 % |
|||||||
Adjusted operating income margin† |
65 % |
64 % |
64 % |
64 % |
|||||||
Net income, as reported |
772 |
726 |
1,336 |
1,483 |
|||||||
Less: Cost reimbursement revenue |
(4,728) |
(4,457) |
(9,161) |
(8,604) |
|||||||
Add: Reimbursed expenses |
4,645 |
4,366 |
9,146 |
8,502 |
|||||||
Add: Merger-related charges and other |
8 |
38 |
16 |
39 |
|||||||
Income tax effect of above adjustments |
19 |
17 |
(1) |
18 |
|||||||
Less: Income tax special items |
— |
— |
— |
(100) |
|||||||
Adjusted net income† |
$ 716 |
$ 690 |
4 % |
$ 1,336 |
$ 1,338 |
— % |
|||||
Diluted earnings per share, as reported |
$ 2.69 |
$ 2.38 |
$ 4.62 |
$ 4.81 |
|||||||
Adjusted diluted earnings per share† |
$ 2.50 |
$ 2.26 |
11 % |
$ 4.62 |
$ 4.35 |
6 % |
|||||
† Denotes non-GAAP financial measures. Please see pages A-14 and A-15 for information about our reasons for providing these alternative financial measures and the limitations on their use. |
|||||||||||
A-3 |
MARRIOTT INTERNATIONAL, INC. |
||||||
TOTAL LODGING PRODUCTS BY OWNERSHIP TYPE |
||||||
As of June 30, 2024 |
||||||
US & Canada |
Total International1 |
Total Worldwide |
||||
Properties |
Rooms |
Properties |
Rooms |
Properties |
Rooms |
|
Managed |
617 |
213,712 |
1,363 |
354,789 |
1,980 |
568,501 |
Marriott Hotels |
101 |
56,736 |
186 |
58,147 |
287 |
114,883 |
Sheraton |
26 |
20,869 |
182 |
61,494 |
208 |
82,363 |
Courtyard |
156 |
25,372 |
128 |
27,744 |
284 |
53,116 |
Westin |
40 |
22,344 |
78 |
23,608 |
118 |
45,952 |
JW Marriott |
23 |
13,189 |
74 |
26,496 |
97 |
39,685 |
The Ritz-Carlton |
41 |
12,354 |
77 |
18,047 |
118 |
30,401 |
Renaissance |
21 |
9,065 |
53 |
16,542 |
74 |
25,607 |
Four Points |
1 |
134 |
87 |
24,339 |
88 |
24,473 |
Le Méridien |
1 |
100 |
71 |
19,861 |
72 |
19,961 |
W Hotels |
23 |
6,516 |
42 |
11,805 |
65 |
18,321 |
Residence Inn |
73 |
12,002 |
9 |
1,116 |
82 |
13,118 |
St. Regis |
11 |
2,169 |
47 |
10,285 |
58 |
12,454 |
Delta Hotels by Marriott |
25 |
6,770 |
26 |
4,924 |
51 |
11,694 |
Fairfield by Marriott |
6 |
1,431 |
78 |
9,848 |
84 |
11,279 |
Gaylord Hotels |
6 |
10,220 |
— |
— |
6 |
10,220 |
Aloft |
2 |
505 |
44 |
9,696 |
46 |
10,201 |
The Luxury Collection |
6 |
2,296 |
39 |
7,737 |
45 |
10,033 |
Autograph Collection |
9 |
2,862 |
15 |
3,021 |
24 |
5,883 |
Marriott Executive Apartments |
— |
— |
35 |
5,011 |
35 |
5,011 |
EDITION |
5 |
1,379 |
15 |
2,844 |
20 |
4,223 |
SpringHill Suites |
23 |
3,872 |
— |
— |
23 |
3,872 |
Element |
3 |
810 |
14 |
2,803 |
17 |
3,613 |
AC Hotels by Marriott |
8 |
1,512 |
11 |
1,892 |
19 |
3,404 |
Moxy |
1 |
380 |
12 |
2,771 |
13 |
3,151 |
Protea Hotels |
— |
— |
23 |
2,824 |
23 |
2,824 |
Tribute Portfolio |
— |
— |
10 |
1,284 |
10 |
1,284 |
TownePlace Suites |
6 |
825 |
— |
— |
6 |
825 |
Bulgari |
— |
— |
7 |
650 |
7 |
650 |
Owned/Leased |
13 |
4,335 |
37 |
8,775 |
50 |
13,110 |
Marriott Hotels |
2 |
1,304 |
5 |
1,631 |
7 |
2,935 |
Courtyard |
7 |
987 |
4 |
894 |
11 |
1,881 |
Sheraton |
— |
— |
4 |
1,830 |
4 |
1,830 |
W Hotels |
2 |
779 |
2 |
665 |
4 |
1,444 |
Westin |
1 |
1,073 |
— |
— |
1 |
1,073 |
Protea Hotels |
— |
— |
5 |
912 |
5 |
912 |
The Ritz-Carlton |
— |
— |
2 |
550 |
2 |
550 |
Renaissance |
— |
— |
2 |
505 |
2 |
505 |
JW Marriott |
— |
— |
1 |
496 |
1 |
496 |
The Luxury Collection |
— |
— |
3 |
383 |
3 |
383 |
Autograph Collection |
— |
— |
5 |
360 |
5 |
360 |
Residence Inn |
1 |
192 |
1 |
140 |
2 |
332 |
Tribute Portfolio |
— |
— |
2 |
249 |
2 |
249 |
St. Regis |
— |
— |
1 |
160 |
1 |
160 |
Franchised, Licensed, and Other |
5,425 |
818,512 |
1,384 |
244,237 |
6,809 |
1,062,749 |
Courtyard |
910 |
121,873 |
126 |
23,197 |
1,036 |
145,070 |
Fairfield by Marriott |
1,159 |
109,225 |
68 |
11,574 |
1,227 |
120,799 |
Residence Inn |
794 |
94,604 |
36 |
4,670 |
830 |
99,274 |
Marriott Hotels |
230 |
73,263 |
67 |
19,385 |
297 |
92,648 |
Sheraton |
140 |
43,453 |
80 |
22,834 |
220 |
66,287 |
SpringHill Suites |
534 |
62,100 |
— |
— |
534 |
62,100 |
Autograph Collection |
150 |
33,810 |
141 |
28,245 |
291 |
62,055 |
TownePlace Suites |
511 |
51,664 |
— |
— |
511 |
51,664 |
Westin |
94 |
31,759 |
31 |
9,774 |
125 |
41,533 |
Four Points |
150 |
22,503 |
77 |
13,609 |
227 |
36,112 |
AC Hotels by Marriott |
113 |
18,471 |
107 |
15,707 |
220 |
34,178 |
Aloft |
162 |
23,224 |
27 |
5,060 |
189 |
28,284 |
Renaissance |
68 |
19,060 |
31 |
8,044 |
99 |
27,104 |
MGM Collection with Marriott Bonvoy* |
12 |
26,210 |
— |
— |
12 |
26,210 |
Moxy |
39 |
6,899 |
97 |
18,372 |
136 |
25,271 |
Timeshare |
72 |
18,839 |
21 |
3,906 |
93 |
22,745 |
Tribute Portfolio |
71 |
14,016 |
42 |
5,670 |
113 |
19,686 |
Delta Hotels by Marriott |
67 |
15,002 |
20 |
4,496 |
87 |
19,498 |
The Luxury Collection |
13 |
7,607 |
57 |
10,414 |
70 |
18,021 |
City Express by Marriott |
— |
— |
151 |
17,571 |
151 |
17,571 |
Element |
83 |
11,136 |
3 |
397 |
86 |
11,533 |
Le Méridien |
24 |
5,389 |
22 |
5,746 |
46 |
11,135 |
Design Hotels |
16 |
1,904 |
120 |
8,266 |
136 |
10,170 |
JW Marriott |
12 |
6,072 |
15 |
3,272 |
27 |
9,344 |
Protea Hotels |
— |
— |
35 |
3,035 |
35 |
3,035 |
The Ritz-Carlton |
1 |
429 |
— |
— |
1 |
429 |
Marriott Executive Apartments |
— |
— |
3 |
242 |
3 |
242 |
W Hotels |
— |
— |
1 |
226 |
1 |
226 |
Bulgari |
— |
— |
2 |
161 |
2 |
161 |
The Ritz-Carlton Yacht Collection |
— |
— |
1 |
149 |
1 |
149 |
Four Points Express |
— |
— |
2 |
108 |
2 |
108 |
Apartments by Marriott Bonvoy |
— |
— |
1 |
107 |
1 |
107 |
Residences |
71 |
7,631 |
59 |
6,668 |
130 |
14,299 |
The Ritz-Carlton Residences |
43 |
4,790 |
19 |
1,756 |
62 |
6,546 |
St. Regis Residences |
10 |
1,198 |
13 |
1,785 |
23 |
2,983 |
W Residences |
10 |
1,092 |
7 |
549 |
17 |
1,641 |
Marriott Hotels Residences |
— |
— |