Marriott News Center

292 posts categorized "Marriott"

07/30/2015

Marriott Named to 2015 Customer Service Hall of Fame by 24/7 Wall Street

BellhopBethesda, MD, July 30, 2015 – 24/7 Wall Street, a financial news and opinion company, has selected Marriott International, Inc. (NASDAQ:MAR) for its “2015 Customer Service Hall of Fame” for the company’s strong core value of “putting people first” and focus on employee satisfaction, which it says  leads to exceptional customer service.

24/7 Wall Street commissioned Zogby Analytics to conduct an online national survey in which more than 1,500 randomly chosen respondents rated customer service at 151 of America’s best-known companies in 15 industries. Ten companies were listed in the 24/7 Wall Street’s Customer Service Hall of Fame.  

Marriott was named fourth this year with 39.9% of respondents rating customer service as excellent.  Marriott’s commitment to delivering memorable experiences and excellent service are at the heart of our company. Check out more great stories of excellence at Heart of the House.         

Marriott International, Inc. (NASDAQ: MAR) is a leading global lodging company based in Bethesda, Maryland, USA, with more than 4,300 properties in 81 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Contact: Angela Wiggins at angela.wiggins@marriott.com

07/06/2015

First-Ever Marriott Hotel in the Holy City of Makkah Opens Its Doors

Makkah Marriott Hotel Lobby ReceptionPilgrims to benefit from Marriott Hotels' futuristic comforts for a more rewarding Hajj and Umrah Experience 

Makkah, KSA – July 6, 2015, Marriott International, Inc. (NASDAQ: MAR) has announced the opening of the Makkah Marriott Hotel, the company’s first flagship brand in the holy city.

The arabesque themed 426-room property sits on the hill top of Makkah, providing guests with exquisite views of the Holy City and Haram. With the opening of the company’s flagship Marriott Hotels brand in Makkah, Muslim pilgrims will now have a property that easily resonates with their needs of a futuristic, comfortable and convenient place to stay while undertaking one of the most important journeys in their lives.

Makkah Marriott Hotel GuestroomThe property boasts spacious rooms, with its regular rooms larger than other hotels in the Holy City. All are adequately furnished with modern conveniences and serviced by some of the most professionally-trained hotel staff anywhere in the world. From the hotel, guests can comfortably travel to Haram via a shuttle service that runs several times during the day.

The Makkah Marriott Hotel also lives up to the brand’s goal of reimagining the future of travel for the next generation of travelers, who blend work and play, demand style and substance, and require technology to stay connected. Signature features at the newly opened property include the Greatroom lobby and mobile check-in and check-out facility.

The reimagined Greatroom is part of Marriott Hotels brand initiative to transform lobbies from a formal living room into a local destination where guests spend time, by themselves or with people that matter, to relax and socialize. With the Marriott Mobile App, guests can also easily check-in before their arrival and will receive an automatic notification when their room is ready, making it a seamless experience when they have come for the most sacred trips of their lifetime in Makkah.

“It’s very fitting that our flagship brand, Marriott Hotels is seeing a rapid expansion in the Kingdom.  The opening of a Marriott Hotel in Makkah is part of our commitment to fill a growing gap in the religious tourism sector in the region, which experts estimate will exponentially increase as the population of the Islamic faith grows. We are privileged to have opened our first-ever Marriott Hotel in this Holy City to serve millions of global pilgrims over the years to come,” said Alex Kyriakidis, President, Middle East & Africa of Marriott International.

During the annual pilgrimage of Hajj and Umrah, a tradition that Muslims from all over the world need to fulfill at least once in their lifetime, sees millions of Muslims from across the globe converge in the Holy City. The Saudi Commission for Tourism and Antiquities (SCTA) forecasts that domestic tourism will grow to a staggering 128 million trips and 640 million nights by 2019.

The company’s commitment to the Kingdom is deep-rooted with its 35-year old legacy in the region.  Marriott International began its first operations in the Middle East region with the opening of the 411-room Riyadh Marriott Hotel in Saudi Arabia in 1980. In addition to help boosting religious tourism in the Kingdom with this milestone opening, Marriott International has set its sights on further strengthening its presence in the country with 19 new Saudi properties in the project pipeline.

About Marriott Hotels 
With 502 hotels and resorts in 51 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, 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). 

About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is a leading global lodging company based in Bethesda, Maryland, USA, with more than 4,200 properties in 80 countries and territories and reported revenues of nearly $14 billion in fiscal year 2014.  The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.  

Contact:  Deema.Kingsmill-Moore@marriott.com

06/29/2015

Marriott International Announces Release Date for Second Quarter 2015 Earnings

Bethesda, Md., June 29, 2015 – Marriott International, Inc. (NASDAQ: MAR) will report second quarter 2015 earnings results on Wednesday, July 29, 2015, at approximately 5:00 pm Eastern Time (ET).  The company will hold a conference call for the investment community to discuss its second quarter 2015 earnings on Thursday, July 30, 2015 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, 2016.  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 66506287 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, Thursday, July 30, 2015 until 8 p.m. ET, Thursday, August 6, 2015.  To access the replay, call 404-537-3406.  The conference ID for the recording is 66506287.

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:
Tom Marder 
Marriott International Corporate Relations      
(301) 380-2553                                                          
thomas.marder@marriott.com

Betsy Dahm
Marriott International Investor Relations
(301) 380-3372
betsy.dahm@marriott.com 

06/17/2015

Marriott International and TripAdvisor Announce Instant Booking Partnership

BETHESDA, MD/NEWTON, MA, JUNE 17, 2015  Marriott International, Inc. (NASDAQ: MAR) and TripAdvisor (NASDAQ: TRIP) today announced they are expanding their partnership and will add Marriott’s global hotel portfolio to the TripAdvisor Instant Booking platform. Starting later this summer, travelers shopping for hotel rooms on TripAdvisor will be able to conveniently make a booking at any of Marriott’s more than 4,200 hotels around the world without leaving the TripAdvisor site experience.

The agreement also signifies a strategic partnership between Marriott and TripAdvisor to introduce new customers to Marriott’s broad portfolio of 19 industry-leading brands.

“TripAdvisor is a perfect partner for Marriott, both strategically and culturally,” said Arne Sorenson, CEO and president of Marriott International, Inc. “Our new agreement demonstrates how the growth strategies for our two companies are aligned in the travel space.”

“TripAdvisor has created a new distribution model that changes the game in the travel industry by addressing key concerns of hotel suppliers,” said Shafiq Khan, senior vice president, channel strategy and distribution of Marriott International, Inc. “The result is mutually beneficial to both partners from a strategic and economic standpoint. Marriott’s partnership with TripAdvisor will make it easy for consumers to book with our hotels, and allows Marriott to build a direct relationship with these guests even before arrival. The agreement also maintains our ability to control where the rates and inventory for Marriott’s hotels are displayed. Our partnership will continue to enable us to offer the best benefits, such as Marriott Rewards and Ritz-Carlton Rewards points to our customers who choose to book directly on our channels, including Marriott.com.”

TripAdvisor first launched its Instant Booking platform to U.S. consumers in June 2014, with a gradual roll out to other international markets expected over time. The platform provides a more efficient hotel booking experience for travelers.

With Instant Booking, travelers may simply click on the “Book on TripAdvisor” button to initiate a reservation. TripAdvisor reminds consumers throughout the process that their booking is powered by Marriott and provides the traveler with links and phone numbers to contact the hotel’s customer service associates directly. Unlike with other intermediaries, all customer support inquiries will be handled by Marriott representatives.

“We are excited to deepen our strategic partnership with Marriott International, an innovative hospitality leader,” said Stephen Kaufer, president and CEO of TripAdvisor. “We welcome Marriott to the Instant Booking platform, which provides travelers with a new, simplified booking functionality and an opportunity for Marriott to expand its relationship with guests before, during and after the trip.”

About Marriott International
Marriott International, Inc. (NASDAQ: MAR)is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,200 properties in 80 countries and territories.  Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and Moxy Hotels®. 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 50 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.

About TripAdvisor
TripAdvisor® is the world's largest travel site*, enabling travelers to plan and book the perfect trip. TripAdvisor offers advice from millions of travelers and a wide variety of travel choices and planning features with seamless links to booking tools that check hundreds of websites to find the best hotel prices. TripAdvisor branded sites make up the largest travel community in the world, reaching 340 million unique monthly visitors**, and more than 225 million reviews and opinions covering more than 4.9 million accommodations, restaurants and attractions. The sites operate in 45 countries worldwide. TripAdvisor also includes TripAdvisor for Business, a dedicated division that provides the tourism industry access to millions of monthly TripAdvisor visitors.

TripAdvisor, Inc. (NASDAQ: TRIP) manages and operates websites under 24 other travel media brands: www.airfarewatchdog.com, www.bookingbuddy.com, www.cruisecritic.com, www.everytrail.com, www.familyvacationcritic.com, www.flipkey.com, www.thefork.com (including www.lafourchette.com, www.eltenedor.com, www.iens.nl, www.besttables.com and www.dimmi.com.au), www.gateguru.com, www.holidaylettings.co.uk, www.holidaywatchdog.com, www.independenttraveler.com, www.jetsetter.com, www.niumba.com, www.onetime.com, www.oyster.com, www.seatguru.com, www.smartertravel.com, www.tingo.com, www.travelpod.com, www.tripbod.com, www.vacationhomerentals.com, www.viator.com, www.virtualtourist.com, and www.kuxun.cn. 

*Source: comScore Media Metrix for TripAdvisor Sites, worldwide, December 2014

**Source: Google Analytics, average monthly unique users, Q1 2015

Contacts: 
Kevin Carter
Senior PR Manager
TripAdvisor
(617) 795-7577
kcarter@tripadvisor.com

John Wolf
Global Public Relations
Marriott International, Inc.
(202) 437-6975 (cell) 
 (301) 380-5718(office) 
John.Wolf@marriott.com

 

06/01/2015

Marriott International CFO to Speak at Goldman Sachs Lodging, Gaming, Restaurant and Leisure Conference June 2

Remarks To Be Webcast.

Bethesda, Md., June 1, 2015 – Carl Berquist, executive vice president and chief financial officer at Marriott International, Inc. (NASDAQ:MAR), will speak at the 2015 Goldman Sachs Lodging, Gaming, Restaurant and Leisure Conference, to be held on Tuesday, June 2.  Mr. Berquist’s presentation will be at approximately 10:30 a.m., Eastern Time, and will be webcast live.

To access the webcast, please go to http://www.marriott.com/investor, and then click on the link to the “Goldman Sachs Lodging Conference” under “Recent and Upcoming Events.”

The webcast will be available until September 2, 2015 at the same site.

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.

Contact:
Felicia McLemore                                  Betsy Dahm
(301) 380-2702                                    (301) 380-3372
felcia.mclemore@marriott.com              betsy.dahm@marriott.com 

05/14/2015

Marriott Resort Opens in Mulu as a Hidden Gem

Mulu Marriott Suite BedroomMarriott International's First Rainforest Resort in Asia Pacific 

Mulu, 7 May 2015 – Marriott International, Inc. (NASDAQ: MAR) is proud to announce the recent opening of its first rainforest resort in Asia Pacific at Mulu in Sarawak, Malaysia. The opening of the 101-room Mulu Marriott Resort & Spa marks the second property under the flagship of Marriott Hotels brand on the Island of Borneo and the eighth for Marriott International in Malaysia. Download images.

Mulu is world renowned for some of the most remarkable untouched rainforests and largest natural cave formations in the world. It is one of Malaysia’s four UNESCO World Heritage sites.

Speaking on the occasion of the launch, Mr. Robert Stark, Market Vice President - Australia, Indonesia, Malaysia, Singapore for Marriott International said, “Mulu Marriott Resort & Spa is an exciting addition to the Marriott Hotel portfolio. This property embodies the brand’s drive to enable its guests to Travel Brilliantly. Mulu is such a unique destination and has a great potential for hospitality growth, making it a second-to-none choice for the Marriott Hotels brand.” He further added “The Mulu Marriott Resort & Spa will set new standards in offering guests a rejuvenating resort experience – a respite from hustling and bustling life.”

Mulu Marriott Lobby GreatroomInspired by the “Marriott Modern” design philosophy, Mulu Marriott Resort & Spa has fully transformed the former 20 year old Royal Mulu Resort and creatively built in style based on the alignment of ethnic long houses. Groups of rooms are connected by wooden walkways that allow guests to feel as much a part of this rainforest as the native Belian people. Mulu Marriott Resort & Spa is further complemented by the breath-taking natural splendor along the banks of the Melinau River.

As a part of Marriott Hotel’s transformation, the brand’s signature Greatroom and the resorts River Bar are an open and flexible space with sofa chairs and tables of different sizes, height and design arranged imaginatively for guests to either revel, enjoying drinks and food surrounded by the refreshing green rainforest or simply for quick group discussion be it for business or personal.

The newly enhanced resort offers elegant and spacious rooms and suites with private balconies, showcasing scenic Melinau River and the greenery of the rainforest. Coupled with state-of-the-art facilities and services, these rooms provide an elevated standard of design and décor that reflects comfort and polished style. All bathrooms of Mulu Marriott Resort & Spa are accessorized with Thann amenities inviting guests to linger and spoil themselves.

The rainforest resort has been conceptualized to meet the varied tastes of guests. With more than 1,000sqm of functional event and meeting space including a pillar-less ballroom that can accommodate up to 200 people, a business center boardroom, a multi-functional room and a riverfront garden, Mulu Marriott Resort & Spa is an ideal choice for meetings, conferences and other memorable events.

Indulgence has never looked this good at Mulu Marriott Resort & Spa. It features a range of wellness options for travelers with an outdoor 15-meter lap swimming pool, a state-of-the-art gym overlooking the rainforest, a well-known 5-star Mandara Spa and an activities centre.

Hotel guests can enjoy a diversity of culinary delights at two restaurants. The M-Cafe offers local and international dining with alfresco options on a terrace by the swimming pool and the spacious River Bar overlooking the Melinau River Lounge is a relaxing place to enjoy locally inspired cocktails and specialty drinks.

While Mulu Marriott Resort & Spa is nestled in a remote tropical Rainforest on the outskirts of the UNESCO Gunung Mulu National Park, as such, internet access is available via satellite at Business Centre and River Bar while elsewhere guests can truly relax, unplug and unwind.

For more information and reservations, visit Mulu Marriott Resort & Spa’s official website.

About 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 Marriott Hotels’ official website.

To join the ongoing Marriott conversation, like us on Facebook (Facebook.com/Marriott) and follow us on Twitter (Twitter.com/Marriott, @Marriott).

About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is a leading global lodging company based in Bethesda, Maryland, USA, with more than 4,200 properties in 80 countries and territories and reported revenues of nearly $14 billion in fiscal year 2014.  The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands. 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 jane.cai@marriott.com 

04/29/2015

Marriott International Reports First Quarter 2015 Results

HIGHLIGHTS  

  • First quarter diluted EPS totaled $0.73, a 28 percent increase over prior year results;  
  • North American comparable systemwide constant dollar RevPAR rose 6.9 percent in the first quarter;  
  • On a constant dollar basis, worldwide comparable systemwide RevPAR rose 6.8 percent in the first quarter;  
  • Marriott repurchased 5.5 million shares of the company’s common stock for $431 million during the first quarter. Year-to-date through April 29, the company repurchased 7.2 million shares for $566 million;  
  • Comparable company-operated house profit margins increased 120 basis points both in North America and worldwide in the first quarter;  
  • The company’s adjusted operating income margin increased to 48 percent compared to 42 percent in the year-ago quarter;  
  • Over 10,000 rooms were added during the first quarter, including over 2,000 rooms converted from competitor brands and 4,000 rooms in international markets;  
  • Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $429 million in the quarter, a 27 percent increase over first quarter 2014 adjusted EBITDA.

BETHESDA, MD – April 29, 2015 - Marriott International, Inc. (NASDAQ: MAR) today reported first quarter 2015 results.

First quarter 2015 net income totaled $207 million, a 20 percent increase over 2014 first quarter net income.  Diluted earnings per share (EPS) in the first quarter totaled $0.73, a 28 percent increase from diluted EPS in the year-ago quarter.  First quarter 2015 results reflect impairment charges totaling $12 million pretax while the prior year quarter included both a $10 million pretax impairment charge and a net $16 million tax benefit.  On February 18, 2015, the company forecasted first quarter diluted EPS of $0.68 to $0.72.

Arne M. Sorenson, president and chief executive officer of Marriott International, said, “Worldwide constant dollar RevPAR increased at the high end of our expectations in the first quarter of 2015.  Strong transient and group demand and very high occupancy rates in the U.S. allowed us to continue to reduce special discounts and enhance pricing.  Internationally, robust demand in Mexico and our Caribbean resorts and increasing travel to Egypt drove RevPAR higher. Weak currencies in Europe, the U.K. and Japan encouraged both domestic demand and international arrivals into those markets.  As a result, constant dollar RevPAR at our international hotels increased 6.7 percent, well ahead of our expectations.

“New hotel room openings accelerated in the first quarter as we added over 10,000 rooms compared to nearly 6,000 room additions in the first quarter of 2014.   We are delighted to welcome guests to our newest hotels including the JW Marriott Venice Resort and Spa and the JW Marriott Austin and look forward to the opening of The New York EDITION in a few weeks.  Despite this accelerated openings pace, our development pipeline totaled over 240,000 rooms, comparable to the year-end 2014 level.

“In 2015, we expect worldwide gross room additions of 8 percent, or 7 percent, net, including the approximately 10,000 rooms associated with our recently completed acquisition of Delta Hotels.  Given our significant development pipeline and strong owner and franchisee demand for our brands, we expect our worldwide organic room growth will accelerate meaningfully in 2016.

“Marriott remains committed to its asset light strategy, recycling over $600 million of capital to date in 2015, while retaining long-term management agreements on sold hotels.  Trailing-twelve-month return on invested capital reached 39 percent as of the end of the first quarter.  We remain on track to return at least $1.75 billion to shareholders through dividends and share repurchases in 2015.”

For the 2015 first quarter, RevPAR for worldwide comparable systemwide properties increased 6.8 percent (a 5.2 percent increase using actual dollars).

In North America, comparable systemwide RevPAR increased 6.9 percent (a 6.6 percent increase using actual dollars) in the first quarter of 2015, including a 4.9 percent increase (a 4.7  percent increase in actual dollars) 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 5.3 percent (a 5.0 percent increase in actual dollars) with a 4.6 percent increase (a 4.3 percent increase in actual dollars) 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 8.3 percent (an 8.0 percent increase in actual dollars) in the first quarter with a 5.6 percent increase (a 5.3 percent increase in actual dollars) in average daily rate.

International comparable systemwide RevPAR rose 6.7 percent (a 0.2 percent decline using actual dollars) in the first quarter.  

Marriott added 60 new properties (10,148 rooms) to its worldwide lodging portfolio in the 2015 first quarter, including the 1,012-room JW Marriott Austin in Texas, the Marriott Port-au-Prince Hotel in Haiti and the JW Marriott Venice Resort & Spa in Italy.  Seven properties (1,420 rooms) exited the system during the quarter.  At quarter-end, the company’s lodging system encompassed 4,228 properties and timeshare resorts for a total of over 723,000 rooms.

The company’s worldwide development pipeline totaled over 1,450 properties with over 240,000 rooms at quarter-end, including approximately 500 properties with 88,000 rooms under construction and 162 properties with nearly 27,000 rooms approved for development, but not yet subject to signed contracts.  The company’s pipeline at the end of the first quarter did not include the approximately 10,000 rooms associated with the Delta transaction which closed on April 1, 2015.

MARRIOTT REVENUES totaled over $3.5 billion in the 2015 first quarter compared to revenues of nearly $3.3 billion for the first quarter of 2014.  Base management and franchise fees totaled $369 million compared to $318 million in the year-ago quarter, an increase of 16 percent.  The increase largely reflected higher RevPAR, higher property-level food and beverage revenue, new unit growth and $19 million of higher relicensing fees. 

First quarter worldwide incentive management fees increased 25 percent to $89 million primarily due to higher RevPAR and house profit margins, particularly at in–season Florida and Caribbean resorts, as well as favorable timing of fee recognition and incentive fees from the Protea brand portfolio, which was acquired in the second quarter of 2014.  In the first quarter, 48 percent of worldwide company-managed hotels earned incentive management fees compared to 35 percent in the year-ago quarter.

On February 18, the company estimated total fee revenue for the first quarter would total $440 million to $450 million.  Actual total fee revenue of $458 million in the quarter was higher than estimated due to better than expected RevPAR growth and house profit margins driving incentive fees higher.

Worldwide comparable company-operated house profit margins increased 120 basis points in the first quarter with higher room rates, improved productivity, and lower utility costs.  House profit margins for North American comparable company-operated properties increased 120 basis points from the year-ago quarter.

Owned, leased, and other revenue, net of direct expenses, totaled $63 million, compared to $49 million in the year-ago quarter.  The year-over-year increase largely reflected the $5 million favorable impact of the Protea acquisition, the $3 million favorable impact of several expired leases in Europe and improved results at a few hotels. 

On February 18, the company estimated owned, leased, and other revenue, net of direct expenses for the first quarter would total approximately $60 million.  Actual results in the quarter were above the estimate largely due to stronger results at one international leased hotel and the favorable timing of pre-opening expenses.

DEPRECIATION, AMORTIZATION, and OTHER expenses totaled $44 million in the first quarter of 2015 compared to $36 million in the year-ago quarter.  Expenses in the 2015 first quarter include $12 million of impairment charges related to The New York EDITION hotel and The Miami Beach EDITION residences.  Over the last 12 months, the company generated proceeds of nearly $1 billion from the sale of EDITION assets including the sale of The New York EDITION at the beginning of the 2015 second quarter.  Expenses in the quarter also included $3 million of accelerated amortization of contract acquisition costs primarily related to contract terminations and $2 million of higher amortization of contract acquisition costs related to the Protea transaction.  The 2014 first quarter expenses included a $10 million impairment charge.

On February 18, the company estimated depreciation, amortization, and other expenses for the first quarter would total $30 million.  Actual expenses in the quarter were higher than expected largely due to the $12 million of impairment charges discussed above, as well as $3 million of accelerated amortization of contract acquisition costs primarily related to contract terminations.

GENERAL, ADMINISTRATIVE, and OTHER expenses for the 2015 first quarter totaled $145 million compared to $148 million in the year-ago quarter.  The decline in expenses year-over-year was largely due to the $14 million net favorable impact to legal expenses associated with a few litigation resolutions, partially offset by $7 million of higher guarantee reserves and $2 million of expenses related to the Protea brand portfolio.

On February 18, the company estimated general, administrative, and other expenses for the first quarter would total $150 million to $155 million.  Actual expenses in the quarter were lower than expected largely due to favorable timing and higher deferred development costs.

Provision for Income Taxes
The provision for income taxes in the first quarter of 2014 included 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)
For the first quarter, adjusted EBITDA totaled $429 million, a 27 percent increase over first quarter 2014 adjusted EBITDA of $339 million.  See page A-5 for the adjusted EBITDA calculation.

BALANCE SHEET
At quarter-end, total debt was $4,028 million and cash balances totaled $120 million, compared to $3,781 million in debt and $104 million of cash at year-end 2014.

COMMON STOCK
Weighted average fully diluted shares outstanding used to calculate diluted EPS totaled 283.5 million in the 2015 first quarter, compared to 303.3 million in the year-ago quarter.

The company repurchased 5.5 million shares of common stock in the first quarter at a cost of $431 million.  To date in 2015, the company has repurchased 7.2 million shares for $566 million. 

OUTLOOK
For the 2015 second quarter, the company expects comparable systemwide RevPAR on a constant dollar basis will increase 5 to 7 percent in North America, 3 to 5 percent outside North America and 5 to 7 percent worldwide.  The company’s guidance for second quarter RevPAR growth reflects the shift of Ramadan, which will begin earlier in the second quarter this year.

For full year 2015, the company expects comparable systemwide RevPAR on a constant dollar basis will increase 5 to 7 percent in North America, 4 to 6 percent outside North America and 5 to 7 percent worldwide.

The company anticipates gross room additions of approximately 8 percent, or 7 percent, net, worldwide for the full year 2015, including the approximately 10,000 rooms associated with the recently completed acquisition of Delta Hotels.

The company assumes full year fee revenue could total $1,890 million to $1,930 million, growth of 10 to 12 percent over 2014 fee revenue of $1,719 million.  This fee revenue estimate reflects approximately $11 to $13 million of incremental fees associated with the Delta acquisition, partially offset by the impact of later than anticipated openings of new hotels in 2015 and the continued strengthening of the U.S. dollar.  With very strong incentive fee performance in the first quarter, the company anticipates incentive management fees alone will increase at a mid-teens rate for full year 2015.

The company estimates depreciation, amortization, and other expenses for full year 2015 will total approximately $150 million, including approximately $3 million of amortization related to the Delta transaction.  

For 2015, the company anticipates general, administrative and other expenses will total $635 million to $645 million, a 2 to 4 percent decline compared to 2014 expenses of $659 million.  Compared to the company’s prior estimate of 2015 general and administrative costs, the current estimate assumes approximately $9 million related to the Delta acquisition, largely offset by an estimated $7 million favorable impact of higher deferred development costs.  The company’s estimate of general and administrative expenses does not reflect transition or transaction costs associated with the Delta acquisition.

Given these assumptions, 2015 diluted EPS could total $3.00 to $3.12, an 18 to 23 percent increase year-over-year, excluding Delta transition and transaction costs.

 

 

Second Quarter 2015 Full Year 2015
 Total fee revenue         $490 million to $500 million              $1,890 million to $1,930 million
Owned, leased and other revenue,  net of direct expenses $55 million to $60 million     Approx. $255 million
Depreciation, amortization, and other expenses  Approx. $30 million      Approx. $150 million
 General, administrative, and other expenses      $160 million to $165 million  $635 million to $645 million
 Operating income      $350 million to $370 million  $1,350 million to $1,400 million
 Gains and other income      Approx. $0 million  Approx. $0 million
 Net interest expense1  Approx. $35 million  Approx. $140 million
 Equity in earnings (losses)  Approx. $5 million  Approx. $10 million
 Earnings per share      $0.78 to $0.83  $3.00 to $3.12
 Tax rate    32.3 percent

1Net of interest income

The company expects investment spending in 2015 will total approximately $600 million to $800 million, including approximately $140 million for maintenance capital and approximately $135 million for the Delta 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, at least $1.75 billion could be returned to shareholders through share repurchases and dividends.

Based upon the assumptions above, the company expects full year 2015 adjusted EBITDA will total $1,730 million to $1,780 million, a 14 to 17 percent increase over the 2014 full year adjusted EBITDA of $1,524 million.  See page A-6 for the adjusted EBITDA calculation.

Marriott International, Inc. (NASDAQ: MAR) will conduct its quarterly earnings review for the investment community and news media on Thursday, April 30, 2015 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, 2016.

The telephone dial-in number for the conference call is 706-679-3455 and the conference ID is 99597993.  A telephone replay of the conference call will be available from 1 p.m. ET, Thursday, April 30, 2015 until 8 p.m. ET, Thursday, May 7, 2015.  To access the replay, call 404-537-3406.  The conference ID for the recording is 99597993.

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 or quarterly report on Form 10-K or 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, 2015.  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 4,200 properties in 80 countries and territories.  Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. 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 50 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.

Click here to Download MAR Q1 2015 Press Release Schedules - FINAL

Contacts: 

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

02/12/2015

Marriott International Declares Cash Dividend; Increases Share Buyback Authorization

Bethesda, Md., February 12, 2015 – 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 March 27, 2015 to shareholders of record on February 27, 2015.

Marriott also announced that its board has increased the authorization to repurchase the Company’s Class A common stock by an additional 25 million shares, for a total of approximately 37 million shares currently authorized for repurchase. Shares may be purchased in the open market or in privately negotiated transactions. The company repurchased 24 million shares for $1.5 billion in 2014.     

Marriott International, Inc. (NASDAQ: MAR) is a leading lodging global company based in Bethesda, Maryland, USA, with more than 4,100 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, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Protea Hotels, Marriott Executive Apartments and Marriott Vacation Club timeshare brand.  There are approximately 330,000 employees at headquarters, managed and franchised properties.  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 47 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 Felicia.McLemore@Marriott.com

01/20/2015

Meet the People at the Heart of Marriott

Heart-of-the-House-logoMarriott International Launches “Heart of the House,” A New Social Platform Featuring User Generated Content from Hotels Worldwide.  

Bethesda, Md., January 20, 2015 – Marriott International, Inc. (NASDAQ: MAR) launched “Heart of the House” today, giving consumers an insider’s look at the world’s favorite travel company. The new custom-built social platform features real stories, submitted by guests and hotels worldwide, about guest service, community service, innovation, culture and recognition. The launch continues to align with Marriott International’s Global Content Studio global strategy of developing, producing, and distributing content that informs, entertains, and adds value to travel lifestyle consumers.

“We constantly hear from guests about hotel staff going above and beyond to make travel experiences unforgettable,” said Debbie Marriott Harrison, Global Officer, Marriott Culture and Business Councils. “We’re excited to finally have a dedicated storytelling channel to recognize and share all the remarkable things our hotels are doing with the rest of the world.”

“Heart of the House” is live at marriott.com/HeartoftheHouse and features new entertaining and shareable content every week, including behind-the-scenes photos and videos. The site also includes a Q&A series, “Checking In,” that profiles exceptional employees who came up with new ideas that made a big difference, went above and beyond for guests, or have unique roles that might surprise people. Furthermore, a new film series, “Day in the Life” will also live on “Heart of the House.” Each 1-2 minute installment will capture the commitment to service at Marriott-branded hotels by shadowing a team member for one day, whether a head concierge in Shanghai or executive chef in the Cayman Islands.

“Storytelling is an opportunity for us to have an emotional transaction with the consumer and it builds a relationship in a unique way. Engaging content builds communities that drive commerce. At the end of the day, content done right equals heads in beds,” said David Beebe, Vice President, Creative + Content Marketing, Global Marketing for Marriott International. “We believe we will win loyalty as more travelers discover the stories and the people behind Marriott hotels.”

The “Heart of the House” site is now available in English; the Spanish and Simplified Chinese versions are in development with additional languages expected to follow in 2015. Anyone can submit a story for consideration, including Marriott International employees, the employees of franchisees, customers and guests. Visit marriott.com/HeartoftheHouse to see all the stories or submit one of your own.

Marriott International, Inc. (NASDAQ: MAR) is a leading lodging global company based in Bethesda, Maryland, USA, with more than 4,100 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. 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 amanda.waks@marriott.com

 

Marriott Expects to Reach One Million Rooms Open or in Development in 2015

Miami Beach EDITION HotelNew Hotels Expected to Drive Over $50 Billion in Real Estate Investment and Create More Than 150,000 Anticipated New Hotel Jobs

 DAVOS, SWITZERLAND AND BETHESDA, MD, USA – January 20, 2015 – Continuing its trajectory of rapid global growth and creating opportunity, Marriott International, Inc. (NASDAQ: MAR) said today that it expects its portfolio of hotels either open or under development to surpass 1 million rooms by the end of 2015.  When open, the hotels under development will have generated more than $50 billion in real estate investment globally by Marriott’s owner partners and created over 150,000 anticipated new hotel jobs.

Arne Sorenson, Marriott’s president and chief executive officer, said, “An important focus of the World Economic Forum in Davos is creating new jobs and economic growth. In partnership with our owners in more than 100 countries and territories where we operate or have new hotels in development, Marriott is making a meaningful contribution to economic opportunity.  The growth in Marriott’s portfolio is truly a global trend, with strong expansion in the US and in many markets around the world.

“In 2014 alone, Marriott signed agreements for more than 650 hotels and 100,000 rooms to be added to its worldwide system over the next few years, a signing pace of nearly two new hotel deals a day.  This anticipated investment by our owner partners in Marriott-affiliated hotels will show their confidence in our brands, which reflects the preference our brands have with customers.  Together, our growth fuels economic development in communities around the globe, boosting construction and direct employment at the hotels, as well as incremental commerce that emerges around this growth,” said Sorenson.

A study by the German Agency for International Cooperation (GIZ) researched the economic and community benefit of hotels and found in its initial study of the JW Marriott Lima Hotel in Peru, which employs 350 associates and features 300 guestrooms and 10 meeting rooms, that the hotel contributes more than $10 million annually to the Peruvian economy through expenditures on salaries, supplies and services.

Haiti shovelIn developing regions such as Haiti and Africa, Marriott is working closely with hotel owners and non-governmental organizations to prepare and then hire local residents to manage and operate new hotels.  The new Marriott Port-au-Prince in Haiti will open in February having added more than 200 new local jobs.

“With nearly 1 billion1 people moving upward into the middle class across the globe, the incentives to travel, both for business and to see the world, are powerful and are building in momentum.   The doors to travel are increasingly open, as seen in the recent landmark agreement between China and the United States for mutual 10-year visas.  Since that policy change was announced there has been a nearly 39 percent increase in applications for U.S. visas for Chinese visitors, who spend on average, seven thousand dollars per trip. The potential for new travel and economic growth is huge,” said Sorenson

“Clearly efforts to grow, generate economic opportunity and encourage travel can pay big dividends, not just for companies involved, but for communities around the world,” he said.

Tony Capuano, Marriott’s executive vice president and chief development officer, said that the company’s dramatic growth profile has been building steadily. 

“We achieved record growth across the board in 2014, as we opened more than 46,000 rooms worldwide.  Having signed agreements in 2014 for over 650 new hotels and 100,000 rooms, we boosted our record pipeline of new hotel development to nearly 240,000 rooms. When opened over the next few years, these new hotels will expand Marriott’s presence from 80 countries and territories today to more than 100.  This continues an historic four-year surge in demand for new Marriott hotels that drives a bullish growth outlook.

“Our success has been boosted by a number of factors, including our continental leadership structure that connects our local development teams with development partners and lenders, the continuity of our senior development team, and the introduction of new brands which accounted for nearly 40% of our new room openings this past year. We and our hotel owners are excited about our new brands, including Moxy, AC by Marriott, Autograph and EDITION, and our newly acquired Protea brand in Africa."

Marriott’s growth is significant on a regional basis.  In North America, the company is entering new secondary and tertiary markets as well as adding to its strength in the largest cities.   In Asia, the company expects to more than double its distribution as hotel projects in the current pipeline open, more than doubling Marriott’s presence in the Asia-Pacific region. The company also expects its robust growth will continue in the Middle East and Africa, where Marriott’s portfolio could expand by more than 75 percent, and the Caribbean and Latin America, where its system size could increase by nearly 50 percent.  In Europe, the company’s aggressive growth plans will leverage a broad portfolio of brands, including Moxy, a new stylish budget alternative for travelers with a millennial mindset.

Note on forward-looking statements: This press release contains “forward-looking statements” within the meaning of U.S. federal securities laws, including Marriott’s expectations about the number of rooms open or under development in 2015, the amount of future owner investment and the resulting generation of jobs, regional expansion plans, 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 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 that we identify in Marriott’s most recent quarterly report on Form 10Q.  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 the date of this press release. 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 global company based in Bethesda, Maryland, USA, with more than 4,100 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, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Protea Hotels, Marriott Executive Apartments and Marriott Vacation Club timeshare brand.  Approximately 330,000 people work at Marriott managed and franchised hotels around the globe.  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 47 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

Contacts
Tom Marder, 001.301.380.2553, thomas.marder@marriott.com 
Felicia McLemore, 001.301.380.2702, felicia.mclemore@marriott.com