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Marriott International Reports Strong Q4 and Full Year 2024 Results

Julian WestTuesday, Feb 11, 2025 7:10 am ET
1min read


Marriott International, Inc. (Nasdaq: MAR) reported robust fourth quarter and full year 2024 results, demonstrating the company's resilience and growth in the face of global economic uncertainties. The company's strong performance was driven by its effective execution across multiple fronts, including net rooms growth, revenue quality, regional performance, balance sheet and capital returns, and strategic initiatives.

Key Financial Metrics:

* Worldwide RevPAR increased 5.0%, driven by 4.1% growth in the U.S. & Canada and 7.2% growth in international markets.
* Reported net income for the fourth quarter was $455 million, with adjusted net income of $686 million.
* Reported diluted EPS was $1.63, with adjusted diluted EPS of $2.45.
* Net rooms growth of 6.8% was significantly higher than industry averages, with conversions representing over 50% of additions.
* The development pipeline reached nearly 3,800 properties with over 577,000 rooms, with 55% in international markets.
* Marriott returned over $4.4 billion to shareholders through dividends and share repurchases in 2024.

Notable Achievements:

1. Development & Growth Strategy: Marriott's net rooms growth of 6.8% significantly outpaced industry averages, with conversions representing over 50% of additions. The company's development pipeline, with 577,000-room pipeline and 55% in international markets, provides strong visibility for future growth.
2. Revenue Quality: The 10% increase in base management and franchise fees to $1,128 million is particularly significant, as these represent high-margin, recurring revenue streams. The growth in residential and co-branded credit card fees indicates successful diversification of revenue sources.
3. Regional Performance: International markets' RevPAR growth of 7.2% outpaced U.S. & Canada's 4.1% growth, demonstrating the benefits of geographic diversification. The strength in APEC and EMEA markets suggests potential for continued international expansion.
4. Balance Sheet & Capital Returns: Despite increased debt levels, Marriott's robust cash flow generation supported $4.4 billion in shareholder returns. The projected RevPAR growth of 2-4% and net rooms growth of 4-5% for 2025 suggest continued strong cash flow generation.
5. Strategic Initiatives: The expansion into midscale segments with Four Points Flex and City Express, along with new outdoor lodging ventures, demonstrates strategic adaptability to capture emerging market opportunities. The growth of Marriott Bonvoy to 228 million members strengthens the company's direct booking capabilities and customer relationships.

2025 Guidance:

* Worldwide RevPAR growth of 2-4%
* Net rooms growth of 4-5%
* Adjusted EBITDA between $5,295-$5,435 million
* Adjusted EPS of $9.82-$10.19

Marriott's Q4 2024 results reveal a company executing effectively across multiple fronts, with several noteworthy developments for investors. The company's strong performance, coupled with its strategic initiatives and guidance for 2025, positions Marriott well for continued success in the global hospitality industry.

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Anonym0us_amongus
02/11
$MAR MARriott shares Q4 adjusted EPS $2.45, matching expectations. Q4 revenue hits $6.43B, beating consensus $6.4B. CEO Anthony Capuano says, "Marriott had a great 2024, delivering top-notch experiences that led to high demand for our diverse brand collection. Global revenue per available room (RevPAR) went up 4.3%, and with a record 123,000 new rooms, our total room count grew 6.8% to over 1.7 million worldwide."
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lookingforfinaltix
02/11
Strong results, but watch that debt level. Cash flow should cover returns. Long-term play in hospitality.
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YungPersian
02/11
$4.4B in shareholder returns? They're practicing what they preach about value. Solid move.
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Free-Initiative7508
02/11
MARriott's pipeline is 🚀! 577k rooms in dev sounds like a solid play for long-term growth.
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PunchTornado
02/11
$MAR pipeline is fire. Future looking bright.
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BeeBaBoop
02/11
@PunchTornado What do you think about their 2025 guidance?
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Silver-Feeling6281
02/11
Net rooms growth on fleek. 🚀
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ZhangtheGreat
02/11
Dividend yield decent. Holding long-term. 🤔
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ZestycloseAd7528
02/11
Strong MARriott growth; time to double down?
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roycheung0319
02/11
6.8% net rooms growth? That's some next-level execution. Hospitality game is strong.
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CardiologistEasy4031
02/11
MARriott's pipeline is beast mode 🚀. Future growth looks solid, especially with that international presence.
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turkeychicken
02/11
@CardiologistEasy4031 Totally agree, MAR's pipeline is strong.
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CorneredSponge
02/11
@CardiologistEasy4031 What's your target price for MAR?
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Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.
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