Marriott International ( (MAR) ) has released its Q3 earnings. Here is a breakdown of the information Marriott International presented to its investors.
Marriott International, a global leader in the hospitality industry, operates and franchises hotels and licenses vacation ownership resorts worldwide. The company reported a mixed third quarter for 2024, with a notable increase in adjusted earnings despite a decrease in reported net income compared to the previous year. Key highlights include a 3.0% increase in global RevPAR, a sign of strong performance in international markets, and growth in net rooms by nearly 6% over the past year. Marriott also strengthened its development pipeline to a record 585,000 rooms, emphasizing its strategic expansion plans. Despite a dip in reported net income and earnings per share, the company managed to increase adjusted net income and adjusted EBITDA, reflecting underlying operational strength. Looking forward, Marriott expects robust financial momentum to continue, supported by its strategic initiatives to drive efficiency and growth, projecting a full-year net rooms growth of approximately 6.5% and significant shareholder returns.
