- Third quarter 2023 comparable systemwide fixed greenback RevPAR elevated 8.8 % worldwide, 4.3 % within the U.S. & Canada, and 21.8 % in worldwide markets, in comparison with the 2022 third quarter;
- Third quarter reported diluted EPS totaled $2.51, in comparison with reported diluted EPS of $1.94 within the year-ago quarter. Third quarter adjusted diluted EPS totaled $2.11, in comparison with third quarter 2022 adjusted diluted EPS of $1.69;
- Third quarter reported internet earnings totaled $752 million, in comparison with reported internet earnings of $630 million within the year-ago quarter. Third quarter adjusted internet earnings totaled $634 million, in comparison with third quarter 2022 adjusted internet earnings of $551 million;
- Adjusted EBITDA totaled $1,142 million within the 2023 third quarter, in comparison with third quarter 2022 adjusted EBITDA of $985 million;
- The corporate added roughly 17,200 rooms globally throughout the third quarter, together with roughly 13,000 rooms in worldwide markets and greater than 4,900 conversion rooms;
- On the finish of the quarter, Marriott’s worldwide improvement pipeline totaled greater than 3,200 properties and practically 557,000 rooms, together with roughly 40,300 of pipeline rooms accepted, however not but topic to signed contracts. Roughly 238,000 rooms within the pipeline have been underneath development as of the tip of the third quarter;
- Marriott repurchased 4.8 million shares of frequent inventory for $950 million throughout the third quarter. 12 months up to now by way of October 31, the corporate has returned $3.7 billion to shareholders by way of dividends and share repurchases.
Marriott Worldwide, Inc. (NASDAQ: MAR) right this moment reported third quarter 2023 outcomes.
We’re extraordinarily happy with our leads to the quarter. Worldwide RevPAR[1] grew 9 % yr over yr, reflecting sturdy demand world wide. Worldwide RevPAR elevated 22 %, with specific power in Asia Pacific. Each occupancy and price contributed to international RevPAR good points within the third quarter, and cross-border journey continued to rise.
Within the U.S. & Canada, RevPAR rose greater than 4 %, with many city markets displaying outsized development. Group and enterprise transient noticed mid-single digit lodge income good points within the quarter, largely pushed by price will increase. Leisure transient demand within the area has additionally remained stable, resulting in 4 % lodge income development for the phase in comparison with the year-ago quarter.
Given the significant advantages we ship to house owners, demand for our manufacturers stays robust. Via the primary three quarters of 2023, we’ve signed greater than 100,000 natural rooms, together with the MGM Resorts Worldwide deal, a formidable 60 % enhance in comparison with the identical interval final yr. Even with 5 % internet rooms development within the final 4 quarters, our improvement pipeline continues to develop. Of our report 557,000-room pipeline, 43 % is underneath development.
With continued momentum in our enterprise world wide, we’re elevating our full yr 2023 worldwide RevPAR development steerage to 14 to fifteen % yr over yr and anticipate to return $4.3 billion to $4.5 billion to shareholders by way of share repurchases and dividends. Anthony Capuano, President and Chief Government Officer
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About Marriott Worldwide
Marriott Worldwide, Inc. (NASDAQ: MAR) relies in Bethesda, Maryland, USA, and encompasses a portfolio of greater than 8,100 properties underneath 30 main manufacturers spanning 139 nations and territories. Marriott operates and franchises motels and licenses trip possession resorts all world wide. The corporate gives Marriott Bonvoy®, its extremely awarded journey program. Join with us on Fb and @MarriottIntl on Twitter and Instagram.
About Marriott Bonvoy®
Marriott Bonvoy’s extraordinary portfolio gives famend hospitality in essentially the most memorable locations on this planet, with 31 manufacturers which might be tailor-made to each kind of journey. Members can earn factors for stays at motels and resorts, together with all-inclusive resorts and premium dwelling leases, and thru on a regular basis purchases with co-branded bank cards. Members can redeem their factors for experiences together with future stays, Marriott Bonvoy Moments™, or by way of companions for luxurious merchandise from Marriott Bonvoy Boutiques®. To enroll at no cost or for extra details about Marriott Bonvoy, go to marriottbonvoy.com.
