Cost SavingsMarriott announced an unexpected $80-90M cost savings program for next year, which is significant relative to its current G&A base.
Financial PerformanceMarriott enjoys the highest EBITDA margins of 53% within its full-service luxury peer group and the lowest earnings volatility.
Room GrowthThe rooms growth is higher, now around 6.5%, driven by the Sonder partnership, which should bring 9,000+ rooms to the Marriott portfolio.