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Jun 30, 2024
Marriott Q2 2024 Earnings Report
Marriott reported strong financial results driven by RevPAR growth and strategic expansions.
Key Takeaways
Marriott International reported strong second-quarter results, with a 4.9 percent increase in worldwide RevPAR and a 6 percent increase in net rooms year over year. The company's adjusted EBITDA reached $1,324 million, and it returned $2.8 billion to shareholders year-to-date through July 29.
Worldwide RevPAR increased by 4.9 percent, with international markets leading the growth.
Adjusted EBITDA totaled $1,324 million, reflecting a strong performance in the second quarter.
The company added approximately 15,500 net rooms during the quarter, expanding its global presence.
Marriott repurchased 4.1 million shares for $1.0 billion in the second quarter, demonstrating its commitment to shareholder returns.
Marriott
Marriott
Marriott Revenue by Segment
Marriott Revenue by Geographic Location
Revenue by Segment
Mgmt & Franchise Fees Revenue
CapyFin.comIncentive Mgmt Fees Revenue
CapyFin.comOwned/Leased/Other Revenue
CapyFin.comRevenue by Geographic Location
U.S. & Canada Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Marriott provided an updated outlook that includes a narrowing of the RevPAR growth range for full year 2024, primarily due to a weaker operating environment in Greater China, as well as marginally softer expectations in the U.S. & Canada.
Positive Outlook
- Comparable systemwide constant dollar RevPAR growth of 3% to 4% for both the third quarter and full year 2024.
- Net rooms growth of 5.5% to 6% for year-end 2024.
- Gross fee revenues between $1,275 million and $1,290 million for the third quarter 2024.
- Adjusted EBITDA between $1,225 million and $1,250 million for the third quarter 2024.
- Capital return to shareholders of approximately $4.3 billion for full year 2024.
Challenges Ahead
- Weaker operating environment in Greater China.
- Marginally softer expectations in the U.S. & Canada.
- Guidance excludes cost reimbursement revenue.
- Guidance excludes reimbursed expenses.
- Guidance does not reflect any asset sales that may occur during the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income