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21 posts from February 2012

02/27/2012

Marriott’s Kauai Lagoons Offers Slice of Paradise to More Guests

Kauai Marriott LagoonsMarriott’s Kauai Lagoons – Kalanipu’u recently completed construction of the final two Kalanipu’u buildings bringing an additional 52 luxuriously appointed villas to the resort for a combined offering of 70 villas spread across three buildings. The third Marriott Vacation Club resort on the Garden Isle, Marriott’s Kauai Lagoons – Kalanipu’u located at 3325 Holokawelu Way in Lihue offers the ultimate tropical escape from views to villas and golf to more Owners and guests.

The resort presents a rare offering, situated alongside a 36-acre fresh water lagoon and 100-feet above sea level. Spacious two-bedroom/two-bath and three-bedroom/three-bath villas offer plenty of living space with modern, Hawaiian-inspired furnishings. From fully-equipped kitchens boasting top-of-the-line stainless steel appliances, to huge living and dining areas and large lanais with sweeping ocean views, guests will enjoy the best of island living.

“We’re thrilled to offer the Kauai Lagoon’s experience to more Owners and guests,” said Lee Cunningham, Executive Vice President and Chief Operating Officer-North America and Caribbean, Marriott Vacations Worldwide Corporation. “The addition of new villas at this extraordinary resort means more Owners and guests will now be able to enjoy fabulous vacation experiences surrounded by paradise.”

Owners and guests at Kalanipu’u currently have access to a new fitness center facility within the Kauai Lagoons resort, which features high-end Life Fitness equipment, large flat panel LG televisions and expansive windows offering ocean views to compliment your work-out. Owners and guests can enjoy public access to Kalapaki Beach, retail shopping, spa treatments and the five open-air restaurants at the neighboring Kauai Marriott Resort and Marriott’s Kauai Beach Club.

From recreational to the avid golfer the adjacent Kauai Lagoons Golf Club is a premier 27-hole facility recognized in 2011 by Condé Nast Traveler as one of the top 125 Golf Resorts in the U.S. The newly renovated Kiele Moana Nine (former Kiele back 9), features the longest continuous stretch of ocean holes (half-mile) on any course in Hawaii. The original design and renovations were led by the legendary Jack Nicklaus. The new Kiele Moana Nine is paired with the Kiele Mauka Nine (the original Kiele front 9) to create an unforgettable Jack Nicklaus Signature golf experience.

Visit Marriott’s Kauai Lagoons for more information.

About Marriott Vacation Club
Marriott Vacation Club is a global leader in vacation ownership with over 400,000 Owners, a diverse portfolio of 53 resorts and more than 11,600 timeshare villas throughout the U.S., Caribbean, Europe and Asia. Marriott Vacation Club is a brand of Marriott Vacations Worldwide Corporation, the leading global pure-play vacation ownership company. For more information please visit www.marriottvacationclub.com or nightly rentals visit www.marriott.com. Follow us on Twitter at www.twitter.com/MarriottVacClub and find us on Facebook at www.facebook.com/marriottvacationclub.

Visit Marriott Vacations Worldwide Corporation (NYSE: VAC) for company information.

Connect with james.woelbern@vacationclub.com

02/23/2012

TownePlace Suites Celebrates Growth and Transformation with Designation of Its 200th Hotel In Monroe, Louisiana

TPS Monroe Lobby BoardBright colors, cheerful service team members, handwritten welcome notes, a floor to ceiling TowneMap™  highlighting all the local hot spots and a signature single red gerber daisy in a sleek white vase  - these are what greet guests as they walk into the new generation of TownePlace Suites hotels. The grand opening and designation event today of the new 91-suite hotel in Monroe, Louisiana is a tribute to the recent evolution of this exciting extended stay Marriott brand. Partnering with InterMountain Management, LLC, the 200th milestone hotel delivers on the brand promise of making travel simple and fun. 

Located nearby numerous restaurants and retail stores, the TownePlace Suites Monroe offers guests convenient access to the Biedenharn Museum and Gardens, Kiroli Park and the Masur Museum of Art.  Rates vary depending on length of stay.

“We are delighted to announce the designation of this TownePlace Suites hotel in the Monroe area. Sharing a similar growth path and ideal, our partnership with InterMountain has been invaluable to this project,” said Loren Nalewanski, vice president of TownePlace Suites.  “TownePlace Suites offers an upscale residential atmosphere which is an appealing alternative to standard hotel rooms designed for shorter stays.”

Ideal for travelers who need accommodations for a week or more, this property offers studio, one- and two-bedroom suites with fully equipped kitchens and separate living/working and sleeping areas.

“This is an exciting day for Monroe as well as for us,” said Dewey Weaver, founder and owner of InterMountain Management. “TownePlace Suites offers a great alternative for road warriors and allows travelers to live comfortably while on the road with a fully equipped kitchen, large working area, comfortable living area and of course free Wi-Fi.”

The TownePlace Suites Monroe offers a 24-hour business center, free local phone calls and two-line telephones/data ports/voicemail.  Guest facilities include guest laundry, In a Pinch™ market, an outdoor swimming pool and whirlpool spa, fitness center, meeting room, free high-speed and wireless Internet in all guest rooms and public spaces. Housekeeping services are based on your schedule and length of stay and a complimentary continental breakfast as well as 24-hour coffee service is also available.

About InterMountain Management, LLC
As one of North America’s leading owner/operator and third-party management companies, InterMountain Management, LLC specializes in the select service and extended stay hotel segments.  For more than 25 years, InterMountain Management’s dedication to success has been proven in the results as a hotel owner, management company, and hotel developer.  Their managed hotel owners have benefited from the development and management knowledge and experience gained from owning and operating our own hotel portfolio.  They currently own and/or manage over 75 premium branded hotels in 26 states within Marriott International and other leading hotel brand portfolios.  For more information or to view hotel locations across the U.S., please visit their website at www.intermtn.biz.

About TownePlace Suites by Marriott
TownePlace Suites is an all-suite hotel brand designed for long-stays with moderately priced rooms.  Launched in 1997, the brand currently 200 locations in the United States.  TownePlace Suites participates in the company’s award-winning Marriott Rewards® program, which enables members to earn their choice of points toward free vacations or frequent flyer mileage in their preferred airline program for dollars spent at more than 3,100 Marriott hotels around the world.

For more information or reservations, call TownePlace Suites Monroe hotel directly at 318-387-7227, the TownePlace Suites toll-free number at 800-257-3000, a travel agent or visit the Web site at www.towneplacesuites.com.

Click here for Marriott International, Inc. (NYSE: MAR) company information.

Connect with nina.herrera-davila@marriott.com and mitzia@intermtn.biz

02/17/2012

JW Marriott Wraps-Up 2011 with 32 Key Industry and Travel Awards

JW_logo_bk_vertJW Marriott, one of Marriott International, Inc.'s (MAR:NYSE) global luxury brands, was recognized numerous times throughout 2011 with awards honoring  many of its properties worldwide. The JW Marriott brand took home a total of 32 awards in 2011 across a diverse range of categories including not-for-profit corporations, industry-specific awards and print and online travel media awards.

Highlights of accolades bestowed on the JW Marriott brand and individual properties include:

  • AAA Five Diamond Award 2011 -JW Marriott Camelback Inn Resort & Spa; JW Marriott Cancun Resort & Spa
  • Business Travel News' 2011 U.S. Hotel Chain Survey – JW Marriott winner of  “Upper-Upscale” hotel brands among business travelers
  • Conde Nast Traveler Reader’s Choice Awards 2011, Top Hotels & Resorts – 14 JW Marriott properties listed: Phoenix, AZ; Palm Desert, CA; Tucson, AZ; Scottsdale; AZ; Denver, CO; Santa Monica, CA; Oahu, HI; Mexico City; Lima; Quito; Phuket; Bangkok; Shanghai; Hong Kong
  • Great Place to Work Institute's "100 Best Workplaces in Latin America" - JW Marriott Hotel Lima; JW Marriott Cancun Resort & Spa
  • Travel + Leisure World’s Best Awards 2011,Top Hotels – JW Marriott Guanacaste Resort & Spa; JW Marriott Ihilani Resort & Spa; JW Marriott Hotel Lima; JW Marriott San Antonio Resort & Spa; JW Marriott Hotel Mexico City; JW Marriott Hotel Shanghai at Tomorrow Square; JW Marriott Phuket Resort & Spa; JW Marriott Cairo

“We are thrilled that the JW Marriott brand and its hotels have received these well-recognized awards and have been singled out for being the best of the best,” said Mitzi Gaskins, vice president, JW Marriott brand management. “Our JW Marriott portfolio represents some of the company’s finest hotels and resorts and we are committed to delivering highly crafted and anticipatory guest experiences that are unique to the luxury segment. We also look forward to adding several new properties in major destinations throughout the world.”

The JW Marriott brand is optimistic looking forward to 2012 and hopes to match, if not surpass, the honors it has received by continuing to provide guests with the utmost care and attention.

About JW Marriott
JW Marriott is part of Marriott International’s luxury portfolio and consists of beautiful properties in gateway cities and distinctive resort locations around the world. These elegant hotels cater to today’s sophisticated, self-assured travelers, offering them the quiet luxury they seek in a warmly authentic, relaxed atmosphere lacking in pretense. JW Marriott properties artfully provide highly crafted, anticipatory experiences that are reflective of their locale so that their guests have the time to focus on what is most important to them. Currently, there are 53 JW Marriott hotels in 22 countries; by 2015 the portfolio will encompass 80 properties in 29 countries.

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Connect with sara.steffenauer@marriott.com or Mallory Miller (mmiller@hs-pr.com)

TownePlace Suites by Marriott at Baltimore/BWI Airport Partners with Johns Hopkins on the New Charles R. Bloomberg Children’s Center

TownePlace Suites BaltimoreWhen Johns Hopkins opens The Charlotte R. Bloomberg Children’s Center on April 29, 2012, each patient will have a handmade fleece blanket as a warm welcome to the $1.2 Billion state-of-the-art children’s hospital.

TownePlace Suites Baltimore/BWI Airport is the proud sponsor of this blanket program.  “It was all hands on deck” says General Manager, Michelle Emley, “when Patrice Brylske, Director of Child Life and Child Development reached out to our hotel inviting us to partner with them on making the patients move from the old facility to the new facility as smooth and comfortable as possible”.

“We know this can be a very delicate time for both the patients and parents and our team is over the moon to help out in any way we can” says Emley.  Everyone from staff to guests to clients and corporate management are coming together on February 23, 2012 for a blanket-making-kick-off-party to trim & cut 908 pieces of fabric and tie over 67,500 knots to make 454 blankets by opening day.

To find out how you can participate in this project, call the hotel directly at (410) 694-0060.  For more information about this hotel visit www.marriott.com/bwits or 800-357-2000.

About TownePlace Suites BWI
Located at 1171 Winterson Rd., Linthicum, MD 21090, TownePlace Suites Baltimore BWI Airport is the first LEED certified hotel in the BWI area.  The 136 room Linthicum hotel offers convenient access to Baltimore Washington International Airport, Baltimore Inner Harbor, Annapolis, Washington, D.C. and BWI Airport business corridor.  Rates vary depending on the length of stay.

TownePlace Suites by Marriott is an all-suite brand designed for long-stays with moderately priced rooms.  Launched in 1997, the brand currently has more than 170  locations in the United States.  TownePlace Suites Baltimore BWI Airport participates in the company’s award-winning Marriott Rewards® program, which enables members to earn their choice of points toward free vacations or frequent flyer mileage in their preferred airline program for dollars spent at more than 3,000 Marriott hotels in 56 countries.

Connect with Nina.Herrera-Davila@marriott.com

02/15/2012

Marriott International Reports Fourth Quarter 2011 Results

AUDIO_SYMBOL[1]Listen to the quarterly earnings review at http://www.marriott.com/investor (click "recent and upcoming events" tab and click on the quarterly conference call link).

FOURTH QUARTER HIGHLIGHTS

• Fourth quarter adjusted diluted earnings per share (EPS) totaled $0.46, a 31 percent increase over prior year adjusted results;

• Fourth quarter worldwide comparable systemwide REVPAR rose 6.3 percent using actual dollars.  Average daily rate rose 3.7 percent using actual dollars;

• At year-end, the company’s worldwide pipeline of hotels under construction, awaiting conversion or approved for development totaled over 110,000 rooms, including over 52,000 rooms outside North America;

• Over 6,900 rooms opened during the quarter, including over 1,800 rooms converted from competitor brands and nearly 3,500 rooms in international markets;

• For full year 2011, Marriott repurchased 43.4 million shares of the company’s common stock for $1.4 billion;

 For full year 2012, Marriott expects comparable systemwide REVPAR on a constant dollar basis to increase 5 to 7 percent in North America, outside North America and worldwide.

•  At year-end 2011, group revenue bookings for 2012 North American comparable Marriott Hotels & Resorts properties were 9 percent higher than group revenue bookings at year-end 2010 for stays in 2011. 

BETHESDA, MD – February 15, 2012 - Marriott International, Inc. (NYSE: MAR) today reported fourth quarter and full year 2011 results. 

The company completed the spin-off of its Timeshare segment on November 21, 2011.  Because of Marriott’s significant continuing involvement in the business after the spin-off through licensing and other agreements, Timeshare segment results for periods prior to the spin-off date continue to be included in the company’s historical financial results.  However, to evaluate the performance of the company excluding the impact of the timeshare business, the company is adjusting results and previously provided guidance as if the spin-off had occurred on the first day of fiscal 2010.  Timeshare spin-off adjustments include items such as the removal of timeshare business operating results and spin-off transaction costs, as well as the addition of license fees and other related items.  See pages A-1 through A-6 for reported results, the timeshare spin-off adjustments and adjusted results.

FOURTH QUARTER 2011 RESULTS
Fourth quarter 2011 adjusted net income totaled $159 million, an 18 percent increase compared to fourth quarter 2010 adjusted net income.  Adjusted diluted EPS totaled $0.46, a 31 percent increase from adjusted diluted EPS in the year-ago quarter.  On October 5, 2011, the company forecasted fourth quarter diluted EPS of $0.45 to $0.50, which assumed the timeshare spin-off would occur at year-end 2011.  Adjusting for the timeshare spin-off as if the spin-off had occurred the first day of fiscal 2010, the company’s guidance would have been $0.40 to $0.44 as shown on page A-18.

Reported net income totaled $141 million in the fourth quarter of 2011 compared to $173 million in the year-ago quarter.  Reported diluted EPS was $0.41 in the fourth quarter of 2011 compared to $0.46 in the fourth quarter of 2010.

Adjusted net income and adjusted diluted EPS for the fourth quarter of 2011 exclude $14 million ($18 million after-tax and $0.05 per diluted share) of timeshare spin-off adjustments. 

Adjusted net income and adjusted diluted EPS for the fourth quarter of 2010 exclude $22 million  ($13 million after-tax and $0.04 per diluted share) of timeshare spin-off adjustments.  Adjusted results for the fourth quarter of 2010 also exclude $25 million after-tax ($0.07 per diluted share) of impairment charges and certain tax items, including an $85 million ($0.22 per diluted share) non-cash benefit in the provision for income taxes.

J.W. Marriott, Jr., chairman and chief executive officer of Marriott International, said, “2011 was a great year. Occupancies and room rates improved at our hotels in most markets around the world.  We increased our global hotel distribution and spun off our timeshare business as Marriott Vacations Worldwide Corporation, a new separately traded public company.  Return on invested capital increased dramatically and meaningful top line growth in our lodging business helped drive base and franchise fees beyond their prior peak in 2008.  Adjusted earnings per share was outstanding and we returned over $1.5 billion to our shareholders through share repurchases and dividends. 

“Our system has never looked better.  We opened 210 properties with nearly 32,000 rooms during the year, including 80 hotels flying our new AC Hotels by Marriott flag in Europe.  With great momentum in international markets, the growth rate for our hotel rooms outside the U.S. was higher than within the U.S.   The Autograph Collection made its debut in Europe adding nine properties, including the four spectacular Boscolo hotels.   And our EDITION brand kicked into high gear with new hotel announcements, including the iconic Clock Tower building in New York.  In total, our hotel development pipeline increased to over 110,000 rooms as we signed new management and franchise agreements for more than 320 hotels with over 50,000 rooms in 2011, most for hotels yet to open. 
 
“We are bullish about the long-term growth prospects for both Marriott and the global lodging industry.  With a growing middle class and rapid economic growth in many emerging markets, global demand is increasing steadily.  In the U.S., supply growth remains modest.  As a result, we expect revenue per available room to continue to improve in most markets.  Marriott is well positioned to benefit from these global macro trends.  Our products are high quality, our guest satisfaction is very high, and our brands are preferred by owners and franchisees.  New hotel openings and renovations of existing hotels continue to energize our brands, and with new designs and services, we continue to find new ways to engage our guests.  We expect 2012 to be an exciting year.”

For the 2011 fourth quarter, REVPAR for worldwide comparable systemwide properties increased 5.9 percent (a 6.3 percent increase using actual dollars).  Excluding the Middle East and Japan markets, worldwide comparable systemwide REVPAR rose 6.2 percent (a 6.5 percent increase using actual dollars).

International comparable systemwide REVPAR rose 4.1 percent (a 5.9 percent increase using actual dollars), including a 4.5 percent increase in average daily rate (a 6.3 percent increase using actual dollars) in the fourth quarter of 2011.  Excluding the Middle East and Japan markets, international comparable systemwide REVPAR increased 5.6 percent (a 6.9 percent increase using actual dollars).

In North America, comparable systemwide REVPAR increased 6.4 percent in the fourth quarter of 2011, including a 3.2 percent increase in average daily rate.  REVPAR for comparable systemwide North American full-service and luxury hotels (including Marriott Hotels & Resorts, The Ritz-Carlton and Renaissance Hotels) increased 5.8 percent with a 3.4 percent increase in average daily rate.  REVPAR for comparable systemwide North American limited-service hotels (including Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites and Fairfield Inn & Suites) increased 7.0 percent in the fourth quarter with a 3.4 percent increase in average daily rate. 

Marriott added 40 new properties (6,925 rooms) to its worldwide lodging portfolio in the 2011 fourth quarter, including Shanghai Marriott City Centre, the Renaissance and Courtyard Doha City Center hotels and the Scrub Island Resort, Spa and Marina, an Autograph Collection hotel in the British Virgin Islands.  Nine properties (1,946 rooms) exited the system during the quarter.  At year-end, the company’s lodging group encompassed 3,718 properties and timeshare resorts for a total of 643,196 rooms.

The company’s worldwide pipeline of hotels under construction, awaiting conversion or approved for development totaled nearly 700 properties with over 110,000 rooms at year-end.  During 2011, the company signed new management and franchise agreements for more than 320 hotels with over 50,000 rooms.

MARRIOTT ADJUSTED REVENUES totaled $3.4 billion in the 2011 fourth quarter compared to approximately $3.2 billion for the fourth quarter of 2010.  Adjusted base management and franchise fees rose 9 percent to $346 million reflecting higher REVPAR and fees from new hotels.  Incentive fees declined 1 percent reflecting lower incentive fees in the Middle East and continued weakness in the greater Washington, DC market.  In the fourth quarter, 27 percent of worldwide company-managed hotels earned incentive management fees compared to 26 percent in the year-ago quarter.

Worldwide comparable company-operated house profit margins increased 60 basis points in the fourth quarter reflecting higher occupancy, rate increases and strong productivity.  House profit margins for comparable company-operated properties outside North America increased 20 basis points and North American comparable company-operated house profit margins increased 100 basis points from the year-ago quarter.

Owned, leased, corporate housing and other revenue, net of direct expenses, increased $15 million in the 2011 fourth quarter, to $56 million, largely due to higher credit card and residential branding fee revenues and improved operating results at owned and leased hotels.

ADJUSTED GENERAL, ADMINISTRATIVE and OTHER expenses for the 2011 fourth quarter increased 2 percent to $219 million, compared to adjusted expenses of $215 million in the year-ago quarter.

ADJUSTED GAINS AND OTHER INCOME totaled $1 million compared to $8 million in the year-ago quarter, primarily reflecting net gains on the sale of real estate in the 2010 fourth quarter.

Adjusted Earnings before Interest Expense, Taxes, Depreciation and Amortization (EBITDA)
Adjusted EBITDA totaled $316 million in the 2011 fourth quarter, a 12 percent increase over 2010 fourth quarter adjusted EBITDA of $282 million.  See pages A-12 for the EBITDA and adjusted EBITDA calculations.

FULL YEAR 2011 RESULTS
For the full year 2011, adjusted net income totaled $475 million, a 23 percent increase over full year 2010 adjusted net income.  Adjusted diluted EPS totaled $1.31, an increase of 28 percent from adjusted diluted EPS a year ago.

Reported net income totaled $198 million for full year 2011 compared to reported net income of $458 million a year ago.  Reported diluted EPS was $0.55 for 2011 compared to reported diluted EPS of $1.21 for 2010.

Adjusted net income and adjusted diluted EPS for full year 2011 exclude $300 million ($260 million after-tax and $0.72 per diluted share) of timeshare spin-off adjustments.  Adjusted results for the full year 2011 also exclude $28 million pretax ($17 million after-tax and $0.05 per diluted share) of non-cash impairment and other charges.

Adjusted net income and adjusted diluted EPS for full year 2010 exclude $76 million ($47 million after-tax and $0.12 per diluted share) of timeshare spin-off adjustments.  Adjusted results for full year 2010 also exclude $25 million after-tax ($0.07 per diluted share) of impairment charges and certain tax items, including an $85 million ($0.23 per diluted share) non-cash benefit in the provision for income taxes.

REVPAR for the company’s worldwide comparable systemwide properties increased 6.4 percent (a 7.1 percent increase using actual dollars) in 2011.  Excluding the Middle East and Japan markets, worldwide comparable systemwide REVPAR rose 6.9 percent (a 7.4 percent increase using actual dollars).

International comparable systemwide REVPAR for 2011 increased 6.3 percent (a 9.6 percent increase using actual dollars), including a 0.9 percent increase in occupancy and a 4.9 percent increase in average daily rate (an 8.1 percent increase using actual dollars).  Excluding the Middle East and Japan markets, international comparable systemwide REVPAR increased 8.9 percent (an 11.9 percent increase using actual dollars).

In North America, comparable systemwide REVPAR increased 6.5 percent in 2011.  REVPAR at the company’s comparable systemwide North American full-service and luxury hotels (including Marriott Hotels & Resorts, The Ritz-Carlton and Renaissance Hotels) increased 5.8 percent with a 1.3 percent increase in occupancy and an average daily rate increase of 3.7 percent.  REVPAR for comparable systemwide North American limited-service hotels (including Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites and Fairfield Inn & Suites) increased 7.0 percent with a 3.0 percent increase in average daily rate.

MARRIOTT ADJUSTED REVENUES totaled nearly $11.0 billion in 2011 compared to $10.2 billion in 2010.  Total adjusted fees in 2011 were $1,307 million, an increase of 10 percent from the prior year.  Stronger base management and franchise fees reflected the increase in worldwide REVPAR and unit growth across the system.  Incentive management fees increased 7 percent reflecting higher property-level profit due to worldwide REVPAR increases and continued cost control, as well as international unit growth.  For full year 2011, 29 percent of company-operated hotels earned incentive management fees compared to 27 percent in the prior year.  Approximately two-thirds of incentive management fees came from hotels outside North America in both 2011 and 2010.

Owned, leased, corporate housing and other revenue, net of direct expenses, totaled $140 million in 2011 compared to $91 million in 2010.  Results were primarily impacted by an increase in credit card and residential branding fees, stronger results at owned and leased hotels and an increase in termination fees net of property closing costs.

ADJUSTED GENERAL, ADMINISTRATIVE and OTHER expenses in 2011 increased $50 million to $643 million, an 8 percent increase compared to adjusted expenses in 2010, largely due to higher compensation costs, higher costs associated with growth in international markets and a year-over-year increase in legal expenses.

ADJUSTED GAINS AND OTHER INCOME totaled $8 million in 2011 primarily reflecting net gains on the sale of real estate.  Adjusted gains and other income of $15 million in 2010 included $13 million of net gains on the sale of real estate.

Adjusted EBITDA
Adjusted EBITDA totaled $992 million in 2011 compared to 2010 adjusted EBITDA of $885 million, a 12 percent increase.  See pages A-13 for the EBITDA and adjusted EBITDA calculations.

BALANCE SHEET
At year-end 2011, total debt was $2,171 million and cash balances totaled $102 million, compared to $2,829 million in debt and $505 million of cash at year-end 2010.  The $658 million decline in total debt from year-end 2010 primarily resulted from the spin-off of the Timeshare segment and the transfer of its non-recourse debt, which was partially offset by a $331 million increase in commercial paper borrowings.

COMMON STOCK
Weighted average fully diluted shares outstanding used to calculate adjusted diluted EPS totaled 346.4 million in the 2011 fourth quarter compared to 382.0 million in the year-ago quarter.

The company repurchased 6.9 million shares of common stock in the fourth quarter at a cost of $200 million.  For the full year 2011, the company repurchased 43.4 million shares of common stock at a cost of $1.4 billion.  On February 10, 2012, the board of directors increased the company’s authorization to repurchase shares by 35 million shares to yield a total share authorization of 40.5 million shares.

FIRST QUARTER 2012 OUTLOOK
For the first quarter, the company expects comparable systemwide REVPAR on a constant dollar basis will increase 5 to 6 percent in North America, 4 to 5 percent outside North America and 5 to 6 percent worldwide.

2012 OUTLOOK
The company expects full year 2012 comparable systemwide REVPAR on a constant dollar basis will increase 5 to 7 percent in North America, outside North America and worldwide.

The company expects to open about 30,000 rooms in 2012 as most hotels expected to open are already under construction or undergoing conversion from other brands.

For 2012, assuming a strong U.S. dollar and modest fee revenue growth in hotels in
Washington, DC, the company expects full year fee revenue could total $1,410 million to $1,450 million, growth of 8 to 11 percent over 2011 adjusted total fee revenue.  The company expects owned, leased, corporate housing and other revenue, net of direct expense, could total $130 million to $140 million in 2012.

Compared to prior assumptions for 2012 operating profit provided by the company on October 5, 2011, expectations today reflect 2011 actual results and greater precision resulting from the property-level budgeting process completed in the fourth quarter.

The company estimates that, on a full year basis, one point of worldwide systemwide REVPAR impacts total fees by approximately $20 million pretax and owned, leased, corporate housing and other revenue, net of direct expense, by approximately $5 million pretax.

For 2012, the company expects general, administrative and other expenses to total $660 million to $670 million, an increase of 3 to 4 percent over 2011 adjusted expenses of $643 million.

Given these assumptions, 2012 diluted EPS could total $1.52 to $1.64.

 

First Quarter 2012 Full Year 2012
 Total fee revenue $295 million to $305 million $1,410 million to $1,450 million
Owned, leased, corporate housing and other revenue, net of direct expenses $20 million to $25 million $130 million to $140 million
General, administrative and other expenses $150 million to $155 million $660 million to $670 million
Operating income $160 million to $180 million $870 million to $930 million
Gains and other income Approx $2 million  Approx $10 million
Net interest expense1 Approx $25 million  Approx $105 million
Equity in earnings (losses) Approx ($5) million  Approx ($5) million
Earnings per share $0.26 to $0.30 $1.52 to $1.64
Tax rate    33.0 percent

1Net of interest income

The company expects investment spending in 2012 will total approximately $550 million to $750 million, including $50 million to $100 million for maintenance capital spending.  Investment spending will also include other capital expenditures (including property acquisitions), new mezzanine financing and mortgage notes, contract acquisition costs, and equity and other investments.  Assuming additional investment opportunities do not appear, roughly $1 billion could be returned to shareholders through share repurchases and dividends.

Based upon the assumptions above, full year 2012 EBITDA is expected to total $1,090 million to $1,150 million, a 10 to 16 percent increase over the prior year’s adjusted EBITDA.  Adjusted EBITDA for full year 2011 totaled $992 million and is shown on page A-13.

Marriott International, Inc. (NYSE:MAR) will conduct its quarterly earnings review for the investment community and news media on Thursday, February 16, 2012 at 10 a.m. Eastern Time (ET).  The conference call will be webcast simultaneously via Marriott’s investor relations website at http://www.marriott.com/investor, click the “Recent and Upcoming Events” tab and click on the quarterly conference call link.  A replay will be available at that same website until February 16, 2013.

The telephone dial-in number for the conference call is 706-679-3455 and the conference ID is 42170477.  A telephone replay of the conference call will be available from 1 p.m. ET, Thursday, February 16, 2012 until 8 p.m. ET, Thursday, February 23, 2012.  To access the replay, call 706-645-9291.  The reservation number for the recording is 42170477.

Note on forward-looking statements:  This press release and accompanying schedules contain “forward-looking statements” within the meaning of federal securities laws, including REVPAR, profit margin and earnings trends, estimates and assumptions; the number of lodging properties we expect to add in the future; our expectations about investment spending; and similar statements concerning anticipated future events and expectations that are not historical facts.  We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those we identify below and other risk factors that we identify in our most recent annual report on Form 10-K or quarterly report on Form 10-Q.    Risks that could affect forward-looking statements in this press release include changes in market conditions; the continuation and pace of the economic recovery; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; and the availability of capital to finance hotel growth and refurbishment.  Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release.  We make these forward-looking statements as of February 15, 2012.  We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

MARRIOTT INTERNATIONAL, INC. (NYSE:MAR) is a leading lodging company with over 3,700 lodging properties in 73 countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, EDITION, Autograph Collection, Renaissance, AC Hotels by Marriott, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn & Suites, SpringHill Suites and Bulgari brand names; licenses the development and operation of vacation ownership resorts under the Marriott Vacation Club and Grand Residences by Marriott brands and licenses the development of The Ritz-Carlton Destination Club brand to the newly independent Marriott Vacations Worldwide Corporation; licenses and manages whole-ownership residential brands, including The Ritz-Carlton Residences, JW Marriott Residences and Marriott Residences; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. The company is headquartered in Bethesda, Maryland, USA, and had approximately 120,000 employees at 2011 year-end. It is ranked by FORTUNE as the lodging industry’s most admired company and one of the best companies to work for.  In fiscal year 2011, Marriott International reported revenues of over $12 billion. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Click here to Download MARRIOTT INTERNATIONAL Q4 2011 FINANCIAL TABLES.

Connect with thomas.marder@marriott.com

Marriott Rewards You For Saying “I Do” At 42 Hotels & Resorts

MarcoIslandMarriottWeddingSparklerReturn of popular Vow to Get Away Promotion at www.marriott.com/vowtogetaway.

Marriott International announced today the re-launch of the popular Vow to Get Away at Marriott promotion, offering up to 150,000 Marriott Rewards ® points for destination weddings booked at 42 participating resorts. Participating hotels include JW Marriott Hotels & Resorts, Marriott Hotels & Resorts and Renaissance Hotels in the Caribbean, Mexico, Costa Rica, Florida, Hawaii, Arizona and California, providing professional wedding planners, catering and event staff ready to serve and stunning locations for that most important day. [Photo: A sparkling wedding on the beach at Marco Island Marriott Beach Resort, Golf Club & Spa.]

According to the 2011 BRIDES American Wedding Study, one in ten engaged couples (15%) have a destination wedding. Of those having a destination wedding, they are staying an average of 6 days/nights on location and their guests are staying 3 days/nights.

To qualify for the Marriott Rewards points, enough for a six-night stay at your choice of luxury locations, your destination wedding package must have a minimum catering budget of $25,000 for Friday – Saturday events or a minimum catering budget of $12,000 for Sunday – Thursday events. Weddings must be booked by December 1, 2012 and held by December 31, 2013 to be eligible. For more information, visit www.marriott.com/vowtogetaway.
To generate buzz in the first month and a half of the year-long promotion, Marriott is running a Marriott Honeymoon Starter Giveaway on its Marriott Honeymoon Registry Facebook page, offering a prize of $2,500 Marriott Gift Card to one lucky fan, selected at random. Visit http://www.facebook.com/marriotthoneymoonregistry between February 15 and April 1, 2012, to enter and for giveaway terms and conditions.

"We are definitely seeing an increase in destination weddings at our hotels and resorts as more brides discover the ease of planning a reception at a hotel, where everything is under one roof, and the joy of being married in a spectacular location that all their guests can enjoy," said Meltem Priest, vice president of marketing and ecommerce, Americas for Marriott International resort and convention hotels. "And destination weddings do not have to cost any more than a hometown event."

For trends in destination weddings, just ask one of Marriott’s certified wedding planners and catering specialists.

“We have noticed a trend that our destination weddings are getting smaller and much higher end, especially with décor. For example, a number of outdoor terrace weddings have gone with themes to enhance the already spectacular backdrop,” said Dean Peters, market sales leader for catering, for Marriott properties in Florida. “We are also finding that couples are not planning every detail of their guests’ itinerary. If you choose a location with a lot of activities, they will explore on their own. Remember, they are on vacation, too.”

For more information on booking your wedding with the Vow to Get Away with Marriott promotion, visit http://www.marriott.com/hotel-promotions/vowtogetaway.mi. For terms and conditions of the Marriott Honeymoon Starter Giveaway, visit http://www.facebook.com/marriotthoneymoonregistry.

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Connect with paula.butler@marriott.com and janecoloccia@gmail.com

Glion Institute of Higher Education Honors Marriott International With 2011 Industry Award for Leadership in Hotel Revenue Management

Marriott Accepting Glion Institute AwardSwitzerland’s Glion Institute of Higher Education, ranked among the top three international hospitality management schools worldwide for an international career, has awarded Marriott International’s Global Revenue Management team its 2011 Industry Contribution Award. The award recognizes Marriott International for its leadership in hotel management training and innovative contributions to applied hospitality, tourism and event management education. [Pictured left, Dr. David Horrigan, PhD, Director, Center of Marketing Excellence Glion Institute of Higher Education; right, Dave Roberts, Marriott's Senior Vice President of Global Revenue Management.]

David Horrigan, PhD, Director, Center of Marketing Excellence, said, “We believe the Global Revenue Management team at Marriott International is unique in their vision, creativity and motivation toward the preparation of students seeking a career in hospitality. We recognize the innovative culture Marriott International has toward higher education's role in preparing future employees for hospitality careers. We appreciate everything the Global Revenue Management Team has done for our students and want to formally recognize this effort.”

“We are really honored to receive this great recognition from the Glion Institute. Our team works hard to continually push the envelope in revenue management innovation and application. We have a great partnership with Glion, and we've hired some stellar graduates from there”, said Dave Roberts, Marriott's Senior Vice President of Global Revenue Management.

Marriott International’s Sheryl Freedman, international director of revenue management, and the company’s Global Revenue Management team recently worked with Glion to develop a Revenue Management course for Glion's M.B.A. program, to help prepare graduates to meet industry needs. The course is now considered a leading component of Glion’s M.B.A. program.

In addition to accepting the award, a charitable contribution of 1,500 CHF (approx. $1,600 USD) was be made to the Marriott Foundation for People with Disabilities. Tad Asbury, Executive Director of the Foundation, accepted the donation at the awards ceremony and presentation on February 13, 2012, at Marriott International headquarters in Bethesda, Maryland.

About Glion Institute of Higher Education
Glion Institute of Higher Education (GIHE) is a private Swiss institution that offers undergraduate, graduate and post-graduate programs in hospitality, tourism, and event, sports and entertainment management. Located on two campuses—one in Glion above the famous resort of Montreux on the shores of Lake Geneva and one in Bulle in the heart of the Gruyère region famous for its culinary specialties—GIHE offers its international student body an ideal, safe and multicultural educational environment. In a global survey of 5-star hotel hiring managers, Glion was ranked number 2 among all international hospitality management schools for an international career. Statistically, three institutes occupy this ranking position. (TNS Global Survey, September 2010). For more information, visit www.glion.edu.

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.  

Connect with Laurie.goldstein@marriott.com or Debra.epstein@laureate.net

02/13/2012

Marriott.com/gaytravel Expands Its Global Welcome

JW Marriott Phuket Refreshed Web Site Promotes Deals and Destinations in Five Languages.

Marriott International, Inc. (NYSE:MAR) announced today the relaunch and fresh new look for their popular site www.marriott.com/gaytravel, the first hospitality portal tailored for lesbian, gay, bisexual and transgender (LGBT) customers worldwide in English and four other languages: French, Spanish, German and Portuguese. [Photo: Phuket is an island paradise where you will find the JW Marriott Phuket on Mai Kao Beach.  The west coast of Phuket features the Royal Paradise Complex located in Patong Beach and has many LGBT-friendly bars, nightclubs and entertainment.]

First developed in 2010, the “redesigned website is our way to express Marriott’s loyalty and commitment to all our guests,” said Randy Griffin, Vice President, Global Sales, Marriott International, Inc.  “In 2012, our aspiration will be to ensure www.marriott.com/gaytravel is the trusted and welcoming source for leisure, business and group travel for the LGBT community as we do for all our customers.”

Renaissance Palm Springs Like marriott.com, the renewed site will introduce new hotel openings and special events, destinations and ongoing deals and promotions.  The site also offers unique hospitality, wedding and honeymoon packages showcasing popular destinations and resorts worldwide. Marriott’s premiere hotels from coast-to- coast frequently host galas and events on behalf of LGBT community leaders including the Human Rights Campaign (HRC), GLAAD, PFLAG, the National Center for Lesbian Rights, and Out & Equal Workplace Advocates, among others.
[Photo: Marriott hotels and resorts take pride in joining you to celebrate unforgettable events in the world's most exciting destinations such as The annual White Party at the Renaissance Palm Springs is known as the largest gay dance music festival in North America.]

Marriott remains among the corporations earning high marks by the HRC Corporate Equality Index year after year, and for several years, it also has been a member of the National Gay & Lesbian Chamber of Commerce, committed to diverse suppliers including LGBT businesses.

For more information about Marriott’s global diversity and inclusion initiatives, visit www.marriott.com/diversity.

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.  

Connect with felicia.mclemore@marriott.com

 

Deals of the Week

"Leap Into Love" at Renaissance Boson Waterfront

Batter Up! Take Me Out to the Ballgame in Arizona

Chicago Suite Life Package at JW Marriott Chicago
 

Soak up the sunshine & save in Mexico this winter with this hotel and airfare deal

Ski the Powder - Escape Ski Package in Boulder

RBW_KingRoom“Leap Into Love” at Renaissance Boston Waterfront
Celebrate 2/29 with $229 Romantic Escape Throughout February
Let romance reign all month long at Renaissance Boston Waterfront Hotel with the “Leap Into Love” package.  In honor of the leap year, traveling twosomes can fall head over heels for an aphrodisiac-packed getaway, complete with bubbly, bivalves, and a soul soothing massage for two.  The “Leap Into Love” package components include:

• Champagne toast for two and a dozen, freshly-shucked oysters in Capiz
• Map of the best places to kiss in Boston
• A 45 minute couples massage in the on-site spa room
• Deluxe overnight accommodations
• Complimentary use of the health club and lap pool

The “Leap Into Love” package is available from Feb 1 - 29, 2012.  Rates start at $229 per night.  Reservations can be made at www.RenaissanceBoston.com by entering promotional code LUV or by calling 1-800-HOTELS1 and asking for the “Leap Into Love” package.  Package does not include tax, parking or gratuities.  This promotion is not valid for groups of 10 or more.  Blackout dates may apply.

Batter Up! Take Me Out to the Ballgame in Arizona!
Planning a trip to Arizona for a 2012 spring training game?  Book early and save to have tons of fun at the Salt River Fields Stadium.

The Salt River Fields Stadium is home of the Arizona Diamondbacks and the Colorado Rockies.  Our Marriott Arizona hotels are also centrally located near the Cactus League stadiums. When you stay at one of our participating hotels this spring to enjoy a baseball game you can also discover restaurants, boutique shops and wonderful warm weather!

Take me out to the ballgame

This offer includes:
 • Deluxe accommodations
 • Baseball and Sharpie pen
 • Package of Topps Baseball Cards
 • Bag of peanuts and Cracker Jacks
 • Bottle of water

Take Me Out to the Ballgame package rates start at $94.

Reservations
Be sure that promotional code SPE appears in the Corporate/Promotional code box when making your online reservation, or call 1-800-228-9290 in the US and ask for promotional code SPE.  For toll-free numbers outside the US please click here.
Valid through:   April 1, 2012
Promotional Code:   SPE  

012-JWM-Chi-Ext Twilight-No LimoChicago Suite Life Package at JW Marriott Chicago
Life is "Suite" in Chicago! With this three day get-away, experience the best of Chicago as only the JW Marriott Chicago can provide.
• Rates from:   $1,747 - $1,907
• Valid Through:   February 29, 2012
PROMOTIONAL CODE:  ARN
Package includes:
 • Luxury one-bedroom king suite
 • Breakfast daily for two at Via or through
    room service
 • Two spa treatments per stay at Valeo
 • Two baseball or hockey tickets
 • Two Chicago "Go Card" passes
 • $100 Macy's gift card
 
Reservations
Be sure that promotional code ARN appears in the Corporate/Promotional code box when making your online reservation, or call 1-800-228-9290 in the US and ask for promotional code ARN.  For toll-free numbers outside the US please click here.

Terms and Conditions
Valid seven days a week through 2/29/12.  Package is priced for three nights.  A minimum of three nights must be reserved to receive package.  Rate will not be pro-rated if less nights are stayed.  Limited number of rooms are available for this promotion.  Tax is additional.  Offer does not apply to groups of 10 or more rooms.  Offer cannot be combined with any other promotions.  Blackout dates may apply.  Advance reservations required.  Other restrictions apply.  Rates are per stay and based on availability at the time of reservations.

JW Cancun (Exterior)Soak up the sunshine & save in Mexico this winter with this hotel and airfare deal
Load up on the sunscreen, grab your swimsuit and take advantage of this spectacular Mexico vacation offer. Airfare and four nights start at just $499* - giving you a chance to enjoy the legendary food, hospitality and warmth of Mexico. 

You can spend all day on the beaches, explore ancient ruins, or just catch up on your rest and relaxation in your room. It’s your vacation so it’s your choice.
Choose from one of our many beautiful hotels and resorts.

Ski the Powder - Escape Ski Package in Boulder
This package is available on weekends and weekdays, for a studios suite with a king bed, living area, full kitchen and bath or a penthouse suite with a king bed room and full private bath, a queen loft with a second full private bath, a common living area and full kitchen.  Package ranges from $195
This package includes:
 • Breakfast buffet every morning
 • Two adult lift tickets per day

Reservations
Be sure that promotional code SKI appears in the Corporate/Promotional code box when making your online reservation, or call 1-800-228-9290 in the US and ask for promotional code SKI.  For toll-free numbers outside the US please click here.
• Valid through:   April 7, 2012
• Promotional Code:   SKI   

Connect with laurie.goldstein@marriott.com

 

02/10/2012

Marriott International Declares Cash Dividend; Board Increases Stock Repurchase Authorization

MARRIOTTMarriott International, Inc. (NYSE: MAR) today announced that its board of directors declared a quarterly cash dividend of ten cents ($0.10) per share of common stock.  The dividend is payable on March 30, 2012 to shareholders of record on February 24, 2012. 

Marriott also announced that its board has increased the authorization to repurchase the Company’s Class A common stock by an additional 35 million shares, for a total of approximately 40 million shares currently authorized for repurchase. Shares may be purchased in the open market or in privately negotiated transactions. The company repurchased 43.4 million shares for $1.4 billion in 2011.  

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Connect with thomas.marder@marriott.com