Marriott Q4 2024 Earnings Report

Key Takeaways

Marriott International reported a strong fourth quarter with worldwide RevPAR growth of 5%, driven by both ADR and occupancy gains. Adjusted diluted EPS was $2.45, while reported diluted EPS was $1.63. Net income reached $455 million, with adjusted net income totaling $686 million. Adjusted EBITDA increased 7% year-over-year to $1,286 million.

Total Revenue

$6.43B

Previous year: $6.1B

+5.5%

EPS

$2.45

Previous year: $3.57

-31.4%

Adjusted EBITDA

$1.29B

Previous year: $1.2B

+7.4%

RevPAR Growth

Total Debt

$14.4B

Previous year: $11.9B

+21.0%

Cash and Equivalents

$396M

Previous year: $300M

+32.0%

Free Cash Flow

-$24M

Previous year: $617M

-103.9%

Total Assets

$26.2B

Previous year: $300M

+8627.3%

Marriott Revenue

Marriott EPS

Marriott Revenue by Segment

Marriott Revenue by Geographic Location

Forward Guidance

Marriott anticipates continued growth in 2025, projecting global RevPAR growth of 2% to 4%, net rooms growth of 4% to 5%, and adjusted EPS between $9.82 and $10.19.

Positive Outlook

Expected worldwide RevPAR growth of 2% to 4%
Net rooms growth projected at 4% to 5%
Strong demand in international markets
Continued expansion of the Marriott Bonvoy loyalty program
Asset-light business model supporting cash generation

Challenges Ahead

Higher interest expenses due to increased debt levels
Softening demand in Greater China impacting performance
Potential impact of global macroeconomic conditions
Higher tax rate expected at approximately 26%
Rising operational costs and labor expenses