Marriott Q3 2024 Earnings Report
Key Takeaways
Marriott International reported a solid third quarter in 2024, with a 3.0 percent increase in global RevPAR. Adjusted EBITDA reached $1,229 million, and adjusted diluted EPS was $2.26. The company added approximately 16,000 net rooms during the quarter and returned $1.0 billion to shareholders through share repurchases.
Global RevPAR increased by 3.0 percent, with international markets rising 5.4 percent.
Adjusted EBITDA totaled $1,229 million, compared to $1,142 million in the third quarter of 2023.
Adjusted diluted EPS reached $2.26, up from $2.11 in the prior year's quarter.
The company added roughly 16,000 net rooms during the quarter, expanding its global system.
Marriott
Marriott
Marriott Revenue by Segment
Forward Guidance
Marriott provided guidance for the fourth quarter and full year 2024, including expectations for comparable systemwide constant dollar RevPAR growth and adjusted EBITDA.
Positive Outlook
- Worldwide RevPAR growth of 2% to 3% is expected for the fourth quarter of 2024.
- Full year 2024 worldwide RevPAR growth is projected at 3% to 4%.
- Net rooms growth is anticipated to be approximately 6.5% by year-end 2024.
- Gross fee revenues are forecasted to be between $1,290 million and $1,310 million for the fourth quarter of 2024.
- Adjusted EBITDA is expected to range from $1,235 million to $1,265 million for the fourth quarter of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income