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$MAR (-0,37%) | Marriott International Q3 Earnings Highlights:


๐Ÿ”น Adj EPS: $2.26 (Est. $2.31) ๐Ÿ”ด

๐Ÿ”น Revenue: $6.26B (Est. $6.27B) ๐Ÿ˜•; UP +6% YoY

๐Ÿ”น Adj Net Income: $638M; UP slightly

๐Ÿ”น Adj EBITDA: $1.229B


FY'24 Guidance:ย 

๐Ÿ”น Adj EPS: $9.19-$9.27 (Est. $9.36) ๐Ÿ”ด

๐Ÿ”น RevPAR Growth (Worldwide): 3%-4%

๐Ÿ”น Gross Fee Revenue: $5.126B-$5.146B

๐Ÿ”น Adjusted EBITDA: $4.93B-$4.96B

๐Ÿ”น Net Rooms Growth: Approx. 6.5%


Q4'24 Outlook :ย 

๐Ÿ”น Adjusted EPS: $2.31-$2.39

๐Ÿ”น RevPAR Growth (Worldwide): 2%-3%


Q3 Revenue Per Available Room (const-fx):

๐Ÿ”น Worldwide: UP +3.0%

๐Ÿ”น U.S. & Canada: UP +2.1%

๐Ÿ”น International: UP +5.4%


Revenue Breakdown:ย 

๐Ÿ”น Base Management & Franchise Fees: $1.124B (UP +7% YoY, driven by RevPAR and unit growth)ย 

๐Ÿ”น Incentive Management Fees: $159M (UP +11% YoY, primarily from international managed hotels)

๐Ÿ”น Owned, Leased & Other Revenue: $381M (UP +5% YoY)


Development Pipeline & Operational Metrics:ย 

๐Ÿ”ธ Net Room Additions: Approx. 16,000 rooms in Q3

๐Ÿ”ธ Total Properties: Nearly 9,100 properties globally with 1,675,000 rooms

๐Ÿ”ธ Worldwide Development Pipeline: 3,802 properties and 585,000 rooms, including 220,000 rooms under construction

๐Ÿ”ธ Share Repurchases in Q3: 4.5M shares for $1.0B; YTD capital return of $3.9B through dividends and repurchases


Additional Financial Metrics:ย 

๐Ÿ”น Operating Income: $944M (DOWN -14% YoY)

๐Ÿ”น Interest Expense, Net: $168M (UP due to higher debt balances)

๐Ÿ”น General & Administrative Expenses: $276M (UP, mainly due to operating and litigation reserves)


CEO Commentary - Anthony Capuano:ย 

๐Ÿ”ธ "Marriott had another solid quarter with strong net room and fee growth. Our global RevPAR increased by 3%, with particularly strong gains in APEC and EMEA. Group RevPAR was a standout with a 10% rise in Q3, supporting our excellent business momentum."

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