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280 posts categorized "Marriott"

08/14/2014

Marriott International Conservation Measures on Track to Meet 2020 Goals

Sustainability-Report-CoverSustainability Report shows more than 10 Percent Reductions in Water and Energy Usage from 2007

Bethesda, Md. - August 14, 2014 – Marriott International, Inc. (NASDAQ: MAR) today released its 2014 Sustainability Report – available this year as 10 separate and concise issue reports – sharing the company’s progress against a 2007 baseline, including a nearly 13 percent decrease in water intensity, 11 percent decrease in energy intensity, and a 12 percent decrease in greenhouse gas emissions intensity.  One of Marriott’s key environmental goals is to achieve a 20 percent reduction in energy and water intensity by 2020[1].

“Our sustainability strategy is critical to the growth and success of our communities, our company, and our efforts to help protect our planet’s natural resources,” said Arne Sorenson, president and CEO of Marriott International.

The Green Hotels Global tool used by Marriott International worldwide helps drive the company’s sustainability efforts and transparency, and was made a brand standard in 2013.  The tool tracks the environmental footprint of each hotel in the company’s portfolio, including water and energy use, greenhouse gas emissions, recycling and over 100 property-level environmental practices. 

“We’re pleased that our sustainability performance is continuing to improve globally. In the U.S. nearly 50 percent of our portfolio recently earned TripAdvisor GreenLeader™ status thanks to our work and the use of tools like Green Hotels Global,” said Denise Naguib, vice president of sustainability and supplier diversity. “Our supply chain focus, which ties to our sustainability and commitment to diversity and inclusion, has also progressed with our achievement of 75 percent spend with sustainable suppliers through MindClick Global’s Sustainability Index for furniture, fixtures and equipment and $468 million in spend with diverse suppliers.”

The report also highlights Marriott’s decades-long commitment to developing a skilled workforce. Globally Marriott is supporting youth employment initiatives such as its “World of Opportunity” charitable giving and workplace skills training program in 24 European countries, The Ritz-Carlton’s “Succeed Through Service” program in 26 countries; the Akilah Institute for Women in Rwanda, where Marriott has hired 40 young graduates; and the International Tourism Partnership Youth Career Initiative (YCI) program in 10 countries.

“Creating a sustainable future means creating more jobs and stronger communities, a greater ‘world of opportunity’,” said Mari Snyder, vice president of social responsibility.  “Our partnerships allow us to be a catalyst to address rising youth unemployment and help provide skills to prepare young people for the workplace.  One of the company’s signature partners is the Marriott Foundation for People with Disabilities, a 501c3 nonprofit organization that the Marriott family started with a model designed by Marriott associates to help urban youth with disabilities secure competitive jobs while helping employers source a talent pool of youth they may not have considered.  Twenty-five years later, the Bridges program alone has served 20,000 youth. ” 
_____________________________
[1] 20 percent reduction from the company’s 2007 energy intensity baseline of 401.2 kWh per square meter of conditioned space and a water intensity baseline of 0.86 cubic meter per occupied room.

Marriott’s reporting approach this year was to present the issues that matter most to its stakeholders in concise, simplified reports that can be accessed, read and shared online or via social media, especially by its “next generation” associates and customers.  The issue reports include: Workforce Development; Environmental Performance; Stakeholder Engagement and Policy Advocacy; Global Diversity and Inclusion; Health, Safety and Wellbeing; Responsible Sourcing; Business Model and Sustainability Strategy; Business Ethics and Human Rights; Community Engagement and Natural Capital. 

Highlights from the issue reports include:

Stakeholder Engagement and Policy Advocacy - Marriott has been actively engaging with the White House to promote the power of tourism, including advocating for the 2015 reauthorization of Brand USA, a national marketing campaign targeted at overseas tourists, which resulted in 1.1 million new visitors entering the USA in 2013.  The company’s government affairs team also encouraged legislators to pass the Jobs Originated through Launching Travel (JOLT) Act, designed to enhance the Visa Waiver program and rapidly process visitor visa applications at US consular offices.  Marriott continues to advocate for measures that will provide stability to immigrants who work in its hotels.

Business Ethics and Human Rights - Marriott has a long history of supporting the fight against human trafficking, and created a training program for associates to identify and report possible trafficking behavior.  In 2013, Marriott joined Sabre Holdings in partnering with the United Nations ‘Your Actions Count- Be a Responsible Traveler’ campaign. The campaign, started by the UNWTO, UNODC and UNESCO, aims to educate tourists around the globe to be alert and aware of possible trafficking- human, flora and fauna, cultural artifacts, illicit drugs or counterfeit goods.

Cintas-Eco-UniformsResponsible Sourcing- Always searching for environmentally-conscious business solutions, Marriott partnered with Cintas to purchase associate uniforms made from recycled polyester from post-consumer plastic bottles. Nine brands in the Marriott portfolio have incorporated Regeneration Suiting as their uniform of choice. As a result of choosing these eco-uniforms in 2013, Marriott helped divert 2.3 million bottles from landfills.

For more information about Marriott’s sustainability and social responsibility initiatives or to download the 10 issue reports individually or as a full sustainability report with GRI Index, visit www.marriott.com/socialresponsibility.                   

Sustainability reports based on the GRI framework are used to determine the sustainability issues most pertinent to the organization; benchmark organizational performance with respect to laws, norms, codes, performance standards and voluntary initiatives; demonstrate organizational commitment to sustainable development; and compare organizational performance over time. The Sustainability Reporting G3 Guidelines are the foundation of the framework. For more information on the GRI, visit www.globalreporting.org.

Marriott International, Inc. is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,000 properties, and more than 690,000 rooms in 78 countries and territories.  Marriott International reported revenues of nearly $13 billion in fiscal year 2013.  The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands.  Marriott has been consistently recognized as a top employer and for its superior business ethics.  The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 45 million members.  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 megan.ryan@marriott.com

08/12/2014

4000+ Reasons Why Travelers Will Love their Mobile Devices Even More This Year – Marriott Expands Mobile Check-in and Checkout Services

Mobile Check-inBethesda, Md. – August 12, 2014 – As part of its global mobile strategy, Marriott International, Inc. (NASDAQ: MAR) is announcing a significant expansion of the company’s popular mobile check-in and checkout feature.

Now, eleven additional brands – The Ritz-Carlton, JW Marriott Hotels & Resorts, Renaissance Hotels, Autograph Collection, AC Hotels, Courtyard, SpringHill Suites, Fairfield Inn & Suites, Residence Inn, TownePlace Suites and Marriott Executive Apartments* – are joining the nearly 500 properties of the company’s flagship Marriott Hotels brand in providing mobile check-in and checkout to guests. With these latest additions, these services are immediately available at 1,200 properties worldwide, and will be live at more than 4,000 hotels worldwide by year-end. 

Marriott is laser-focused on delivering the mobile services travelers told the company that they want most and making these services as widely available as possible. The company is rapidly introducing mobile services that improve the travel experience by giving guests added convenience and greater choice, while giving hotel staff the opportunity to deliver an even higher level of service. When it comes to fulfillment, the company’s hotels have achieved a near perfect success rate in executing a half-million mobile check-ins to date, leading to nine out ten guests saying they will use it again.

With the Marriott Mobile app, check-in and checkout is simpler. Marriott Rewards members receive a push notification on their Apple iPhones or Android devices after 4 pm on the day before their arrival alerting them they can check-in. Then they receive an automatic notification when their room is ready. Communicating in advance means the hotel is prepared for their arrival. Because payment information is stored within members profiles, guests simply walk up to the expedited mobile check-in desk where their pre-programmed key card will be waiting for them.

  

At the end of their stays, guests receive a push notification alerting them that mobile checkout is available. Upon completion, guests will then be prompted to provide an email address where their bill should be sent, allowing them to confidently bypass the front desk. Mobile check-in and checkout are available in five languages: English, French, Spanish, German and Mandarin.

Leading with its flagship Marriott Hotels brand, the company continues innovating in the mobile space. The brand now offers mobile service requests in fifteen markets in North America, where hotels are serving as “mobile incubator” laboratories for the future. For example, guests at these hotels can use a drop down menu of the most typical service requests, such as extra towels and pillows, or chat directly with hotel staff using a mobile app. The company will offer these and other mobile services to its Marriott Rewards members at the Marriott Hotels brand beginning early next year.

“You cannot separate the mobile experience from the personal interaction between guests and our hotel associates. When executed flawlessly and consistently, they complement each other and enhance the overall experience,” said George Corbin, senior vice president, Digital. “In our testing of mobile service requests so far, 86 percent of guests who used the feature have chosen to chat directly with hotel associates, illustrating how much guests appreciate the personal interaction using their mobile devices, and nearly nine out of ten guests gave the experience a very high positive rating.”

Recently, the company’s award-winning Marriott Rewards became first major hotel loyalty program to offer geo-targeted, mobile offers using beacon technology. Participating hotels send members, who opt-in, push notifications on their mobile devices as they pass by “hot spots” within the property. Called LocalPerks, offers are tailored to the property, ranging from food and beverage to spa to golf. Future plans for LocalPerks include Marriott Rewards’ offers available locally in the neighborhoods surrounding participating hotels.

*Mobile check-in and checkout is available at all Marriott Hotels, JW Marriott Hotels & Resorts, Renaissance Hotels, AC Hotels, Marriott Executive Apartments and at a select but increasing number of Ritz-Carlton, Autograph Collection, Courtyard, SpringHill Suites, Fairfield Inn & Suites, Residence Inn and TownePlace Suites properties.

*Regulations in Armenia, Belarus, France, Italy, Kazakhstan, Portugal, Poland, Russia, and Turkey allow for mobile check-in but require guests to checkout with the front desk. Mobile check-in and checkout is not available in Japan and Venezuela.

Marriott International
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, over 4,000 properties and 690,000 rooms in 79 countries and territories and reported revenues of nearly $13 billion in fiscal year 2013. For more than 80 years, the company has been committed to guest satisfaction. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 45 million members. 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 sara.steffenauer@marriott.com

08/07/2014

Marriott International Declares Cash Dividend

Bethesda, Md., August 7, 2014 - Marriott International, Inc. (NASDAQ: MAR) today announced that its board of directors declared a quarterly cash dividend of twenty cents ($0.20) per share of common stock.

The dividend is payable on September 26, 2014 to shareholders of record on August 21, 2014.

Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,000 properties, and more than 690,000 rooms in 78 countries and territories. Marriott International reported revenues of nearly $13 billion in fiscal year 2013. The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 45 million members. 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 thomas.marder@marriott.com 

08/04/2014

Marriott’s CEO Charts Exponential Hotel Growth in Africa 2014-2020, Tripling Jobs

Lodging Leader to Talk About Business and Tourism Opportunities at US-Africa Business Forum

Protea Umhlanga_Ridge_exteriorBETHESDA, MD, USA – August 4, 2014 – Joining U.S. President Barack Obama, 200 corporate CEOs from the U.S. and Africa and over 45 African heads of state at the US-Africa Business Forum tomorrow, Marriott International, Inc. (NASDAQ: MAR) President and CEO Arne Sorenson will share the company's plans to reach over 150 hotels across 16 African countries, resulting in more than 25,000 jobs, between 2014-2020.

This growth comes on a base of 14 hotels and 10,000 employees prior to the company’s acquisition of South Africa’s Protea Hotel Group in April. The Protea investment lifted Marriott into position as the largest hotel company in Africa, with the addition of 116 managed and franchised hotels, approximately 10,000 rooms and 15,000 employees across seven countries in sub-Saharan Africa.

Protea interior guest roomIn addition to its recent Protea acquisition, Marriott International has plans to open nearly 40 additional hotels with more than 6,000 rooms, adding more than 10,000 employees, at both its managed and franchised hotels in the following 13 African countries by 2020: Algeria, Benin, Egypt, Ethiopia, Ghana, Gabon, Mauritius, Morocco, Nigeria, Rwanda, South Africa, Tunisia, and Zambia.

Sorenson discussed Marriott’s commitment to Africa and support of the growing travel industry by easing travel to and within the continent: “It’s a great time to do business in Africa and Marriott is at the table helping to lead the discussion on trade and investment across the continent. African leaders are looking at ways to spur economic growth by lowering barriers, such as onerous visa regimes. Travel is trade and the more Africa embraces Smart Travel policies that encourage the free flow of people, the quicker growth will come,” says Sorenson.

In Rwanda, Marriott has partnered with a vocational school, Akilah Institute for Women, to bring 41 women from the school to work and train in Marriott hotels in Dubai. The women are getting on-the-job skills, leadership training, and will be prepared after 18 months to return, as part of the management team, in 2016 to open the company’s first new-build Sub-Saharan Africa hotel – the Kigali Marriott Hotel.  

“Africa is going through an economic transformation,” says Sorenson. “Coupled with that transformation is a mutual promise for opportunity that Africa holds—for us as a business and for the people who are hired, trained and work in hotels across our portfolio. For them, it is like hitting the lottery and shows what a powerfully good force travel can be in the world.”

Editor’s note:
Arne Sorenson will be available for media interviews during the US-Africa Leaders Summit.
Tuesday, August 5, 2014
Mandarin Oriental
1330 Maryland Avenue, SW
Washington, DC 20024
12:00 noon
The Muze

Contact: felicia.mclemore@marriott.com or +1.301.380.2702

# # #

NOTE: The statements about Marriott’s plans for growth in Africa are “forward looking statements" within the meaning of federal securities laws, not historical facts, and are subject to a number of risks and uncertainties, including supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance hotel growth; and other risk factors identified in Marriott International, Inc.'s most recent quarterly report to the US Securities and Exchange Commission on Form 10-Q; any of which could cause actual results to differ materially from those expressed in or implied by our statements. These statements are made as of the date of this press release, and 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. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,000 properties in 79 countries and territories.  Marriott International reported revenues of nearly $13 billion in fiscal year 2013.  The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands, including: Marriott Hotels, The Ritz-Carlton, JW Marriott, Bulgari, EDITION, Renaissance, Gaylord Hotels, Autograph Collection, AC Hotels by Marriott, Moxy Hotels (expected opening in 2014), Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Protea Hotels, Marriott Executive Apartments and Marriott Vacation Club timeshare brand.  Marriott has been consistently recognized as a top employer and for its superior business ethics.  The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 45 million members.  For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

07/15/2014

Marriott International Ranked Top Hotel Company on the FORTUNE 500®

Marriott-International-logoMarriott International (NASDAQ: MAR) has been named to the FORTUNE 500, ranking 219 overall, up from 2013’s ranking of 230, and ranking as the top hotel company in the hotels, casinos and resorts category.  Marriott is also the highest ranked company on the list with its headquarters in the Washington, DC-area.  

FORTUNE magazine’s annual selection of the nation's largest companies, ranked by revenue, includes a survey of companies that are incorporated in the U.S. and operate in the U.S. and file financial statements with a government agency.

Marriott is also included on this year’s FORTUNE “The Best Places to Work” list and the magazine’s The World’s Most Admired List, which measures a company’s corporate reputation. 

The company recently made headlines announcing Atlantis, Paradise Island in the Bahamas joining its Autograph Collection and in April when it became the largest hotel company in Africa after completing the acquisition of the Protea Hospitality Group.  Marriott has more than 4,000 properties and more than 690,000 rooms in 78 countries and territories around the world.  And, as of the end of quarter one, the company had more than 200,000 rooms in its global development pipeline, a 35 percent increase from a year ago.  

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

06/27/2014

Marriott International Announces Release Date for Second Quarter 2014 Earnings

Bethesda, Md., June 27, 2014 - Marriott International, Inc. (NASDAQ: MAR) will report second quarter 2014 earnings results on Tuesday, July 29, 2014, at approximately 5:00 pm Eastern Time (ET).  The company will hold a conference call for the investment community to discuss its second quarter 2014 earnings on Wednesday, July 30, 2014 at 10 a.m. ET.  Mr. Arne Sorenson, Marriott International's president and chief executive officer, and Mr. Carl Berquist, Marriott International's executive vice president and chief financial officer, will discuss the company's performance.

The conference call will be webcast simultaneously via Marriott’s investor relations website.  Those wishing to access the call on the web should log on to http://www.marriott.com/investor, and click the link for the second quarter earnings call under “Recent and Upcoming Events”.  A replay will be available at that same website until July 30, 2015.  A transcript of the call will also be available on the company’s website.

The telephone dial-in number for the conference call is 706-679-3455.  Please use conference ID 59383825 when dialing into the call.  To help ensure you do not miss any of the conference call, please dial-in or link to the call on the web 10 minutes prior to the scheduled start time.  News media will be able to access the conference call in a listen-only mode. 

A telephone replay of the conference call will be available from 1 p.m. ET, Wednesday, July 30, 2014 until 8 p.m. ET, Wednesday, August 6, 2014.  To access the replay, call 404-537-3406.  The conference ID for the recording is 59383825.

Visit Marriott International, Inc. (NASDAQ: 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 felicia.mclemore@marriott.com

 

06/11/2014

A Nod to the Past, a Vision for the Future - Marriott Celebrates the Grand Opening of Its 4,000th Hotel - The Marriott Marquis Washington, DC

Ribbon CuttingWashington, DC., - June 11, 2014 – Marking a milestone in the city where it all began, Marriott Hotels, the flagship brand of Marriott International, Inc. (NASDAQ: MAR) officially celebrated the highly anticipated grand opening of the company’s 4,000th hotel – the Marriott Marquis Washington, DC.

NOTE: For more images from the grand opening events, please CLICK HERE.

The day kicked off with the official dedication led by J.W. Marriott, Jr., executive chairman, along with city officials and other dignitaries who helped welcome the 1,175-room hotel to the company and city. The hotel is located not far from where founders J. Willard and Alice S. Marriott opened a nine seat A&W Root Beer stand 87 years ago. In a salute to the company’s origins, the ceremony featured a root beer toast and a performance by the Washington Performing Arts Children of the Gospel Choir.  Members of the Marriott family also surprised Mr. Marriott by unveiling a plaque on the mezzanine level that reads, “Honoring J.W. “Bill” Marriott, Jr. for His Exemplary Leadership and Commitment to ‘Put People First’- Dedicated at the Grand Opening of the Marriott Marquis Washington, DC, June 10, 2014”.
 
“It is fitting that our 4,000th hotel is located here in our nation’s capital, because it is the birthplace of our company and represents the future of the Marriott Hotels brand,” said, J.W. “Bill” Marriott, Jr. “The Marquis will also be an economic boost to the city, creating job and career opportunities for hundreds of District residents and attracting major meetings from around the world.”

Muralist Aniekan UdofiaUpon arriving for the evening reception, guests were given high-tech RFID bracelets, which allowed everyone to interact with elements of the party. Guests sipped different variations of the “DC Mule”, a new take on the classic Moscow Mule cocktail, and voted for their favorite. The winner – The Virgin-gin – will now be served at the hotel bar. Throughout the evening, guests also offered their own inspiration and co-created live with local DC muralist Aniekan Udofia, what it means to “Traveling Brilliantly in Washington, DC”.

DJ StylusThe evening featured a sampling of passed hors d'oeuvres emblematic of DC neighborhoods, including Shaw, Chinatown, Waterfront, Eastern Market, Adam’s Morgan. Guests were treated to a specialty bourbon bar featuring an array of cocktails curated by Jim Beam and inspired by the global locations of the nearly 500 properties in the Marriott Hotels’ brand. DC native DJ Stylus drove the pulse of party, spinning tunes throughout the evening with many a reflection of the city’s vibrant music culture. The event was punctuated with an exclusive and mesmerizing aerial ballet performance by Les Oiseaux Du Paradis.

The Marriott Marquis Washington, DC is the fifth Marquis property within Marriott Hotels’ portfolio and incorporates the brand’s newest innovations across technology, design, fitness, culinary and meetings to enable the next generation traveler to Travel Brilliantly.

Marriott Marquis Washington, DC opened May 1, 2014 with 1,175 rooms, which includes 49 suites, and over 105,000 square feet of function space, including a 30,600 square-foot Marquis Ballroom and two 10,800 square-foot ballrooms. Marriott Marquis Washington, DC is conveniently located next door to the Walter E. Washington Convention Center–and connected via an underground concourse. An epicenter of downtown DC, the hotel has transformed its neighborhood and introduced a new, exciting venue for local social gatherings, business travelers and meetings and conventions. The property features a grand atrium lobby with a 56-foot sculpture, a state-of-the-art bi-level fitness center, and five ground-floor dining outlets. The hotel’s design is innovative, incorporating the site’s original historic Samuel Gompers AFL-CIO headquarters and designed to earn LEED® Silver accreditations (one of the largest hotels in the country to earn this eco-friendly distinction). For more information on Marriott Marquis Washington, DC please visit www.dcmarquis.com and follow the hotel on Facebook (Facebook.com/MarriottMarquisWashington) and Twitter (@MHMarquisWDC).

About Marriott Hotels
With over 500 hotels and resorts in nearly 50 countries and territories around the world, Marriott Hotels is evolving travel through every aspect of the guest’s stay, enabling the next generation to Travel Brilliantly. Boldly transforming itself for mobile and global travelers who blend work and play, Marriott leads the industry with innovations, including the Greatroom Lobby, Future of Meetings and Mobile Guest Services that elevates style & design and technology. All Marriott hotels participate in the award winning Marriott Rewards frequent travel program that allows members to earn hotel points or airline miles for every dollar spent during each stay. For more information, visit www.MarriottHotels.com to join the ongoing Marriott conversation, like us on Facebook (Facebook.com/Marriott) and follow us on Twitter (Twitter.com/Marriott, @Marriott).

Visit Marriott International, Inc. (NASDAQ: 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

CONTACTS:
John Wolf    
Marriott International    
john.wolf@marriott.com   

Jenna Newmark
Grey Public Relations
JNewmark@Grey.com

05/20/2014

Marriott International Expands Executive Leadership in Africa

Protea-Hotels

Samir Baidas confirmed as Chief Development Officer, Middle East and Africa

Philip Bryson appointed Senior Vice President, Middle East and North Africa

Appointments come on the back of growing regional demand; Marriott International announced 14 new properties in the UAE, Saudi Arabia and Sub Saharan Africa at AHIC 2014 

AHIC, Dubai, United Arab Emirates – May 20, 2014 – Following a successful 2013 and strong start to 2014, Marriott International has announced the appointment of Samir Baidas as Chief Development Officer, Middle East and Africa and Philip Bryson as Senior Vice President, Middle East and North Africa. Both executives are long standing Marriott International employees and come with a wealth of experience to cater to the company’s growing Middle East and Africa expansion.

The announcement swiftly follows the hotel company announcing 14 new signed properties on the first day of the 2014 Annual Hotel Investment Conference (AHIC); deals that will see the organization expand its regional footprint in the UAE, Saudi Arabia, and across Sub Saharan Africa. Furthermore, Marriott International has become the largest hotel company in Africa following its acquisition of Protea Hospitality Group’s brands and management company. Marriott International has nearly doubled its distribution to more than 23,000 rooms since the closing of the deal. In total Protea have 116 hotels with 10,148 rooms in seven African countries including South Africa.

Commenting on the executive appointments, Alex Kyriakidis, President & Managing Director, Middle East and Africa Continent, said: “Our Company witnessed unprecedented levels of growth during 2013; with strong expansion plans and a raft of new hotels set to join our regional portfolio in the coming years it is vital we have the right team in place. Samir and Philip join our team with a vast amount of industry knowledge that will be vital to our on-going success during this important period of development. I would like to extend my personal welcome to them both.”

Baidas brings with him a wealth of expertise as a result of 10 years’ experience within Marriott International. Starting his operations career in 1991 Saudi Arabia, he then went on to establish the hospitality and real estate consultancy department at BDO Bahrain Jawad Habib before rejoining Marriott in 2004 as Vice President Development officer. Earlier in his career he also spent four years in the Arthur Andersen Middle East real estate and hospitality division where he conducted advisory assignments for potential investments in twelve countries.

Commenting on his position, Baidas said: “There is huge optimism in our region’s hotel sector − and it’s the growth of the mid-market that is creating the biggest buzz. I am delighted to have assumed the position as Chief Development Officer at this pinnacle point in Marriott International’s history. I look forward to supporting the team with on-going regional success.”

Bryson will have responsibility for the overall performance of Marriott International’s existing hotels and provide oversight for new build properties across the Middle East and North Africa.  He will oversee the Area Vice President and Market Vice President positions and will be responsible for the development and implementation of regional strategies and initiatives, executing brand service strategies, and enhancing owner loyalty. Bryson has had a long and varied career with Marriott International, for over 20 years, spanning the United Kingdom, Africa, and Asia. His strong operations background and his emerging market experiences make him an ideal candidate for this role.   

Bryson said: “At the start of 2014 a report by Smith Travel Research stated that globally Marriott International signed more than one hotel project per day in 2013, totaling a record 387 hotels and 67,000 rooms. The company opened nearly 26,000 new rooms in 2013 and, given its strong pipeline, expects new hotel openings to accelerate in 2014 and 2015. Such rapid development needs an experienced operations team in place to cater to hotels under management, in addition to upcoming openings. I am excited about the growth of the region and look forward to helping Marriott International capitalize on its current success.”

In 2013, Marriott increased its total development pipeline by over 30 percent.  At year-end 2013, Marriott had more than 195,000 rooms under development across five continents, compared to 176,000 rooms at the end of the third quarter and 143,000 rooms just a year ago.  At year-end 2013, the company’s global pipeline included 72,000 hotel rooms under construction, 83,000 rooms signed but not yet under construction, 11,000 rooms awaiting conversion to one of Marriott’s brands, and 29,000 rooms for projects that have been approved for development but not yet signed. 

In MEA the company currently has a regional presence consisting of 161 properties in 18 countries, of which 116 are situated in sub-Saharan Africa, spanning eight lodging brands.

Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,000 properties, and more than 690,000 rooms in 77 countries and territories and reported revenues of nearly $13 billion in fiscal year 2013.  For more than 80 years, the company has been committed to guest satisfaction.  Marriott has been consistently recognized as a top employer and for its superior business ethics.  The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 45 million members.  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 Deema.Kingsmill-Moore@marriott.com  

04/29/2014

Marriott International Reports First Quarter Results

Marriott International logo
HIGHLIGHTS

• First quarter diluted EPS totaled $0.57, a 33 percent increase over prior year results;

• North American comparable systemwide RevPAR rose 6.3 percent in the first quarter with average daily rates up 3.3 percent;

• On a constant dollar basis, worldwide comparable systemwide RevPAR rose 6.2 percent in the first quarter, including a 3.2 percent increase in average daily rate;

• Marriott repurchased 7.0 million shares of the company’s common stock for $356 million during the first quarter.  Year-to-date, the company repurchased 9.0 million shares for $467 million;

• Comparable company-operated house profit margins increased 160 basis points in North America and 130 basis points worldwide in the first quarter;

• Adjusted for cost reimbursements, the company’s operating income margin increased to 41 percent compared to 38 percent in the year-ago quarter;

• At the end of the first quarter, the company’s worldwide development pipeline increased to over 200,000 rooms, including nearly 30,000 rooms approved, but not yet subject to signed contracts.  The pipeline does not include the more than 10,000 rooms associated with the Protea transaction, which was completed on April 1st;

• Nearly 6,000 rooms were added during the first quarter, including over 1,000 rooms converted from competitor brands and 3,300 rooms in international markets;

• Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $339 million in the quarter, a 12 percent increase over first quarter 2013 adjusted EBITDA.

BETHESDA, MD – April 29, 2014 - Marriott International, Inc. (NASDAQ: MAR) today reported first quarter 2014 results.  Due to the company’s change in the fiscal calendar beginning in 2013, the first quarter of 2014 reflects the period from January 1, 2014 through March 31, 2014 (90 days) compared to the 2013 first quarter, which reflects the period from December 29, 2012 through March 31, 2013 (93 days).  Prior year results have not been restated for the change in fiscal calendar, although revenue per available room (RevPAR), occupancy and average daily rate statistics are reported for calendar quarters for purposes of comparability.

First quarter 2014 net income totaled $172 million, a 26 percent increase compared to first quarter 2013 net income.  Diluted earnings per share (EPS) totaled $0.57, a 33 percent increase from diluted EPS in the year-ago quarter.  First quarter 2014 results reflect a $10 million impairment charge and a net $16 million tax benefit.  On February 19, 2014, the company forecasted first quarter diluted EPS of $0.47 to $0.52.

Arne M. Sorenson, president and chief executive officer of Marriott International, said, “We are delighted to report solid results in the first quarter of 2014.  We continue to enjoy strong preference for our brands, sustained economic growth and favorable industry supply trends in many markets around the world. 

“North American group and transient demand exceeded our expectations during the quarter, driving RevPAR and house profit margins higher.  We were particularly pleased to see higher food and beverage spending by both groups and transient guests.

“While hotel industry supply in North America is growing only modestly, particularly in the full-service segment, we are taking a greater share of new hotels being developed around the world, reflecting owners’ and franchisees’ confidence in our brands and operational strength.  At quarter-end, we had over 200,000 rooms in our development pipeline, a 35 percent increase from a year ago.

“On April 1, we became the largest hotel company in Africa after completing our acquisition of the Protea Hospitality Group.  We look forward to new opportunities for growth in Africa.
 
“Looking ahead, we expect demand to remain strong, with North American comparable company-operated RevPAR increasing 4 ½  to 6 ½ percent in 2014 and property-level house profit margins improving 100 to 150 basis points.  We expect 5 percent net rooms growth worldwide and another year of record signings from our development team.

‘We remain committed to increasing RevPAR, growing our distribution globally and controlling costs in order to drive earnings and shareholder value.  Over the past 4 years, we have repurchased 103.1 million shares for approximately $3.8 billion and 21.6 million shares for $973 million in the last four quarters alone.”

For the 2014 first quarter, RevPAR for worldwide comparable systemwide properties increased 6.2 percent (a 5.9 percent increase using actual dollars).

In North America, comparable systemwide RevPAR increased 6.3 percent in the first quarter of 2014, including a 3.3 percent increase in average daily rate.  RevPAR for comparable systemwide North American full-service hotels (including Marriott Hotels, The Ritz-Carlton, Renaissance Hotels, Gaylord Hotels and Autograph Collection Hotels) increased 6.5 percent with a 3.6 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 6.2 percent in the first quarter with a 3.1 percent increase in average daily rate.

International comparable systemwide RevPAR rose 5.7 percent (a 4.4 percent increase using actual dollars) in the first quarter.

Marriott added 32 new properties (5,855 rooms) to its worldwide lodging portfolio in the 2014 first quarter, including The Ritz-Carlton Kyoto, the JW Marriott Dongdaenum Square Seoul and the Pier One Sydney Harbour, an Autograph Collection hotel.  Fourteen properties (2,154 rooms) exited the system during the quarter.  At quarter-end, the company’s lodging group encompassed 3,934 properties and timeshare resorts for a total of nearly 680,000 rooms.

The company’s worldwide development pipeline increased to more than 1,200 properties with over 200,000 rooms at quarter-end, including 186 properties with nearly 30,000 rooms approved for development, but not yet subject to signed contracts.  The company’s pipeline at quarter-end does not include the 10,148 rooms associated with the Protea transaction.

MARRIOTT REVENUES totaled nearly $3.3 billion in the 2014 first quarter compared to revenues of over $3.1 billion for the first quarter of 2013.  Base management and franchise fees totaled $318 million compared to $304 million in the year-ago quarter.  The year-over-year increase largely reflects higher RevPAR and non-room revenue partially offset by $5 million of lower fees due to the three additional days in the year-ago quarter as a result of the change in the fiscal calendar.

First quarter worldwide incentive management fees increased $5 million to $71 million.   Incentive fee growth in the first quarter was somewhat constrained by tough comparisons to last year’s Hurricane Sandy recovery in New York, the inauguration in Washington, DC and the Super Bowl in New Orleans.  In the first quarter, 36 percent of worldwide company-managed hotels earned incentive management fees compared to 33 percent in the year-ago quarter. 

On February 19, the company estimated total fee revenue for the first quarter would total $380 million to $395 million.  Actual total fee revenue in the quarter was within the expected range.  

Worldwide comparable company-operated house profit margins increased 130 basis points in the first quarter.  House profit margins for comparable company-operated properties outside North America increased 70 basis points and North American comparable company-operated house profit margins increased 160 basis points from the year-ago quarter.

Owned, leased and other revenue, net of direct expenses, totaled $49 million, compared to $45 million in the year-ago quarter.  Improved results at several leased hotels and results from a property the company acquired in the fourth quarter of 2013 were partially offset by lower termination and residential branding fees. 

On February 19, the company estimated first quarter owned, leased and other revenue, net of direct expenses would total approximately $45 million for the first quarter.  Actual results in the quarter exceeded those expectations by $4 million largely due to better than expected performance at several international hotels.

DEPRECIATION and AMORTIZATION expense totaled $36 million in the 2014 first quarter compared to $25 million in the year-ago quarter.  The increase in expense largely reflects a $10 million impairment charge for the company’s owned EDITION hotels due to higher estimated construction costs.  These hotels are contracted for sale at a fixed price.

GENERAL, ADMINISTRATIVE and OTHER expenses for the 2014 first quarter totaled $148 million, a 10 percent decline compared to the year-ago quarter.

On February 19, the company estimated general and administrative expenses for the first quarter would total $155 million to $160 million.  Actual expenses in the quarter were lower than expected largely due to favorable timing.  

Provision for Income Taxes
The provision for income taxes in the first quarter was lower than anticipated due to a net $16 million non-cash tax benefit largely related to a settlement with the IRS.

Adjusted Earnings before Interest Expense, Taxes, Depreciation and Amortization (EBITDA)
Adjusted EBITDA totaled $339 million in the 2014 first quarter, a 12 percent increase over 2013 first quarter adjusted EBITDA of $303 million.  See page A-6 for the EBITDA calculation.

BALANCE SHEET
At the end of the first quarter, total debt was $3,302 million and cash balances totaled $184 million, compared to $3,199 million in debt and $126 million of cash at year-end 2013.

COMMON STOCK
Weighted average fully diluted shares outstanding used to calculate diluted EPS totaled 303.3 million in the 2014 first quarter, compared to 320.0 million in the year-ago quarter.

The company repurchased 7.0 million shares of common stock in the first quarter at a cost of $356 million.  Year-to-date, Marriott repurchased 9.0 million shares of its stock for $467 million.  The remaining share authorization as of April 29, 2014, totaled 30.3 million shares.

OUTLOOK
For the 2014 second quarter, the company expects comparable systemwide calendar RevPAR on a constant dollar basis will increase 4 to 6 percent in North America, outside North America and worldwide.

The company expects full year 2014 comparable systemwide RevPAR on a constant dollar basis will increase 4.5 to 6.5 percent in North America, 4 to 6 percent outside North America and 4.5 to 6.5 percent worldwide.

The company anticipates gross room additions of 6 percent worldwide for the full year 2014 including the 10,148 rooms associated with the Protea acquisition.  Net of deletions, the company expects its portfolio of rooms will increase by approximately 5 percent by year-end 2014. 

The company assumes full year fee revenue could total $1,665 million to $1,705 million, growth of 8 to 11 percent over 2013 fee revenue of $1,543 million. 

For 2014, the company anticipates general, administrative and other expenses will total $640 million to $650 million, flat to down 1 percent compared to 2013 expenses of $649 million.

Given these assumptions, 2014 diluted EPS could total $2.39 to $2.53, a 20 to 27 percent increase year-over-year. 

 

Second Quarter 2014 Full Year 2014
 Total fee revenue         $440 million to $450 million $1,665 million to $1,705 million
 Owned, leased and other revenue, net of direct expenses $60 million to $65 million $220 million to $230 million
Depreciation and amortization Approx. $30 million     Approx. $130 million
 General, administrative and other expenses     $165 million to $170 million $640 million to $650 million
 Operating income     $300 million to $320 million     $1,105 mllion to $1,165 million
 Gains and other income     Approx. $0 million  Approx. $5 million
 Net interest expense1 Approx. $25 million  Approx. $100 million
 Equity in earnings (losses) Approx. $0 million Approx. $0 million
 Earnings per share     $0.63 to $0.68  $2.39 to $2.53
 Tax rate   32.0 percent

1Net of interest income

The company expects investment spending in 2014 will total approximately $800 million to $1.0 billion, including approximately $150 million for maintenance capital spending and $193 million associated with the Protea transaction.  Investment spending also includes other capital expenditures (including property acquisitions), new mezzanine financing and mortgage notes, contract acquisition costs, and equity and other investments.  Assuming this level of investment spending, approximately $1.25 billion to $1.5 billion could be returned to shareholders through share repurchases and dividends.

Based upon the assumptions above, the company expects full year 2014 adjusted EBITDA will total $1,440 million to $1,500 million, a 9 to 13 percent increase over the 2013 full year adjusted EBITDA of $1,325 million.  See page A-7 for the adjusted EBITDA calculation.

Marriott International, Inc. (NASDAQ: MAR) will conduct its quarterly earnings review for the investment community and news media on Wednesday, April 30, 2014 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 April 30, 2015.

The telephone dial-in number for the conference call is 706-679-3455 and the conference ID is 10575194.  A telephone replay of the conference call will be available from 1 p.m. ET, Wednesday, April 30, 2014 until 8 p.m. ET, Wednesday, May 7, 2014.  To access the replay, call 404-537-3406.  The conference ID for the recording is 10575194.

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 to or remove from our system 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 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 April 29, 2014.  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. (NASDAQ: MAR) is a leading lodging company based in Bethesda, Maryland, USA, with more than 3,900 properties in 71 countries and territories as of quarter-end and reported revenues of nearly $13 billion in fiscal year 2013.  The company operates and franchises hotels under 16 brands, including Marriott Hotels, The Ritz-Carlton, JW Marriott, Bulgari, EDITION, Renaissance, Gaylord Hotels, Protea Hotels, Autograph Collection, AC Hotels by Marriott, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Marriott Executive Apartments; licenses vacation ownership resorts under the Marriott Vacation Club, Grand Residences by Marriott and Ritz-Carlton Club brands; and licenses and manages residential properties under several of its brands.  There are approximately 330,000 employees at headquarters, managed and franchised properties.  Marriott is consistently recognized as a top employer and for its superior business operations, which it conducts based on five core values: put people first, pursue excellence, embrace change, act with integrity, and serve our world. 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 MAR Q1 2014 Press Release Schedules - FINAL

Contacts: 
Tom Marder, (301) 380-2553, thomas.marder@marriott.com 
Betsy Dahm, (301) 380-3372, betsy.dahm@marriott.com

04/28/2014

Marriott Hotels Expands Brand in China

Lobby2New Jixian Marriott Hotel Pitches-in on Sustainable Tourism.

Tianjin, China, April 27 2014 – Marriott International, Inc. (NASDAQ: MAR) today celebrated the opening of its 282-room Jixian Marriott Hotel, taking the total number of properties under its iconic Marriott Hotels brand in China to 16. Under a long-term management agreement with Saint Light Investment Group, the hotel is a pioneer in Greater China for embracing sustainable tourism. Download images.     

ChineserestaurantThe hotel is located in Jixian which is in the northern part of Tianjin and also close to Beijing. With its proximity to a variety of leisure travel attractions including the Pan Mountain, Great Wall, golf courses, ski parks and natural parks, Jixian Marriott Hotel is an ideal choice for incentive conferences, meetings and exhibitions, wedding couples and honeymooners. It is also appealing to individual or family guests from nearby areas such as Tianjin, Beijing and Tangshan who want to take a short leisure break away from the hustle and bustle of urban life.     

“Marriott Hotels is Marriott International’s flagship brand and is undergoing a global transformation,” said Henry Lee, Chief Operations Officer – Greater China. Marriott Hotels is  bringing innovation and service excellence to every aspect of the travel experience and the Jixian Marriott perfectly embraces the brand’s Travel Brilliantly philosophy.”

“I would like to applaud our owner partner Saint Light Investment Group for its vision of building such an exceptional hotel that puts focuses on low carbon footprint and environmental friendliness. Marriott International is a staunch supporter of sustainable tourism, and we are most pleased to work with partners that share the same philosophy,” Lee added.

Guest_roomJixian Marriott Hotel offers 282 spacious guestrooms, inclusive of 8 suites and 8 villas, that are equipped with luxurious furnishing, state-of-the-art amenities and picturesque views of Jixian resort area.

The refreshed guest experience begins on arrival with the option of quick and convenient check-in via smartphone. Jixian Marriott Hotel joins some 350 Marriott Hotels globally to offer both digital check-in and check-out, giving guests greater flexibility.

The hotel offers 1,900 square meters of meeting space that consist of one grand ballroom, one junior ballroom and eight function rooms. They are complemented with the state-of-the-art meeting facilities and technologies.

Guests can enjoy distinct food and beverage experiences within the hotel. Man Ho offers classic, authentic Cantonese cuisine in a stylish, contemporary Asian design envelope and is considered excellent, regionally relevant and accepted by the local community. Also dubbed as “The Great Room”, The Lounge has a feature bar that transitions from a coffee and pastry focus in the day to alcoholic beverages and snacks in the evening.

Other recreational amenities of the hotel include fitness center, swimming pool, Spa with hot spring pools.

Jixian Marriott Hotel is arguably the first "low carbon emission hotel" in China that engages its guests to support sustainable tourism with a carbon footprint recording system.  This system reports the CO2 emission of its guests’ activities in the hotel, including their actual energy consumption. A personal carbon emission statement will be provided to guests when they check out. The hotel has been awarded the three-star certificate of green building design by the Ministry of Housing and Urban-Rural Development of China.

For more information or reservations, please call Jixian Marriott Hotel (86.22.29179999)

Marriott Hotels
With 500 hotels and resorts in nearly 60 countries around the world, Marriott Hotels is evolving travel through every aspect of the guest’s stay, enabling the next generation to Travel Brilliantly. Boldly transforming itself for mobile and global travelers who blend work and play, Marriott leads the industry with innovations, including the Greatroom Lobby, Future of Meetings and Mobile Guest Services that elevates style & design and technology. All Marriott hotels participate in the award winning Marriott Rewards frequent travel program that allows members to earn hotel points or airline miles for every dollar spent during each stay. For more information, visit www.MarriottHotels.com.

Marriott International, Inc. (NASDAQ: MAR) is a leading lodging company based in Bethesda, Maryland, USA, with more than 4,000 properties in 79 countries and territories and reported revenues of nearly $13 billion in fiscal year 2013.  The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands. 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 jane.cai@marriott.com