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Dec 31, 2023
Marriott Q4 2023 Earnings Report
Reported strong results driven by increased demand and strategic growth initiatives.
Key Takeaways
Marriott International reported strong fourth-quarter and full-year 2023 results, with a 7.2% increase in worldwide RevPAR. The company added nearly 81,300 rooms globally and achieved record levels of cash generation due to its asset-light business model.
Worldwide RevPAR increased by 7.2% in Q4 2023.
Diluted EPS totaled $2.87, and adjusted diluted EPS reached $3.57.
Net income was reported at $848 million, with an adjusted net income of $1,055 million.
The company added nearly 81,300 rooms globally during 2023.
Marriott
Marriott
Marriott Revenue by Segment
Revenue by Segment
Mgmt & Franchise Fees Revenue
CapyFin.comIncentive Mgmt Fees Revenue
CapyFin.comOwned/Leased/Other Revenue
CapyFin.com Forward Guidance
In 2024, Marriott expects another year of solid growth and significant shareholder returns, with a worldwide full year RevPAR increase of 3 to 5 percent and net rooms growth of 5.5 to 6 percent.
Positive Outlook
- Expects a worldwide full year RevPAR increase of 3 to 5 percent.
- Anticipates net rooms growth of 5.5 to 6 percent.
- Expects adjusted EBITDA of approximately $4.9 billion to $5.0 billion for the year.
- Plans to return $4.1 billion to $4.3 billion to shareholders.
- Factors in the purchase of the Sheraton Grand Chicago and underlying land for $500 million.
Challenges Ahead
- Normalizing RevPAR growth around the world.
- Factors in $500 million to purchase the Sheraton Grand Chicago.
- Guidance excludes cost reimbursement revenue.
- Guidance excludes reimbursed expenses.
- Guidance excludes merger-related charges and other expenses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income