Marriott International Reports First Quarter 2024 Results

First quarter 2024 comparable systemwide constant dollar RevPAR increased 4.2 percent worldwide, 1.5 percent in the U.S. & Canada, and 11.1 percent in international markets, compared to the 2023 first quarter;

First quarter reported diluted EPS totaled $1.93, compared to reported diluted EPS of $2.43 in the year-ago quarter. First quarter adjusted diluted EPS totaled $2.13, compared to first quarter 2023 adjusted diluted EPS of $2.09;

First quarter reported net income totaled $564 million, compared to reported net income of $757 million in the year-ago quarter. First quarter adjusted net income totaled $620 million, compared to first quarter 2023 adjusted net income of $648 million;

Adjusted EBITDA totaled $1,142 million in the 2024 first quarter, compared to first quarter 2023 adjusted EBITDA of $1,098 million;

The company added roughly 46,000 net rooms during the quarter, including approximately 37,000 rooms under its agreement with MGM Resorts International;

At the end of the quarter, Marriott’s worldwide development pipeline totaled over 3,400 properties and nearly 547,000 rooms, including roughly 27,000 pipeline rooms approved, but not yet subject to signed contracts. More than 202,000 rooms in the pipeline were under construction as of the end of the first quarter;

Marriott repurchased 4.8 million shares of common stock for $1.2 billion in the first quarter. Year to date through April 26, the company has returned $1.7 billion to shareholders through dividends and share repurchases.

Go Your Own Way And Earn More During Marriott Bonvoy’s Fall Global Promotion

Earn Bonus Points for Exploring the World and Marriott Bonvoy’s Extraordinary Portfolio of Hotel Brands 

India – August 2023 – With extraordinary hotel brands for every style worldwide, Marriott Bonvoy® lets you go your way and earn bonus points during the new global promotion. This fall, Marriott Bonvoy is rewarding members who explore the breadth of Marriott Bonvoy’s distinctive portfolio with two ways to earn bonus points.  

From September 12 to December 6, 2023, registered members can earn 1,500 bonus points on each stay and an additional 3,000 bonus points each time they stay at three different brands during the promotion earning period. Registration is open starting today through November 22, 2023.  

With nearly 8,600 properties within the portfolio, Marriott Bonvoy has extraordinary hotels for every traveler and every travel journey across the world.  Looking for unexpected design and imaginative programming? Check in to W Hotels. Wellness enthusiast? Retreat to Westin Hotels & Resorts. Want playful, cool vibes? Visit Moxy Hotels. Members can also discover new additions to the portfolio, including City Express by Marriott, offering midscale properties in the Caribbean and Latin American markets. 

Here are some additional details: 

• Registration is open here from August 29 to November 22, 2023. The promotion earning period runs from September 12 to December 6, 2023.

• A “stay” is defined as consecutive nights spent in the same hotel, regardless of check-in/check-out activity, at any points-eligible rate.

• Stays completed prior to registration are not eligible to earn bonus points with this promotion. Members must register before November 22, 2023. 

• To earn the additional 3,000 bonus points, members can only stay once at each participating Marriott Bonvoy hotel brand during the promotion earning period.  

• There is no limit on the number of times a member can earn the 1,500 bonus points on each eligible paid stay completed during the promotion earning period. 

• Registered members can begin earning bonus points from the first eligible stay that falls within the earning period, and on each eligible stay thereafter.

• A hotel must participate in Marriott Bonvoy at the time of the stay to qualify as a stay under the promotion terms. 

• Stays at The Ritz Carlton Yacht Collection, Homes & Villas by Marriott Bonvoy, Marriott Executive Apartments®, and owner-occupied weeks at Marriott Vacation Club®, Marriott Grand Residence Club®, Sheraton Vacation Club®, Westin Vacation Club®, The Ritz-Carlton Club®, St. Regis Residence Club® and Luxury Collection Residence Club, are not eligible for bonus points for this promotion.

To see the Terms & Conditions, visit here.

About Marriott Bonvoy®

Marriott Bonvoy, Marriott International’s award-winning travel program and marketplace, gives members access to transformative, eye-opening experiences around the corner and across the globe. Marriott Bonvoy’s portfolio of 31 extraordinary brands offers renowned hospitality in the most memorable destinations in the world. Members can earn points for stays at hotels and resorts, including all-inclusive resorts and premium home rentals, as well as through everyday purchases with co-branded credit cards. Members can redeem their points for experiences including future stays, Marriott Bonvoy Moments™, or through partners for luxurious products from Marriott Bonvoy Boutiques®. With the Marriott Bonvoy app, members enjoy a level of personalization and contactless experience that allows them to travel with peace of mind. To enroll for free or for more information about Marriott Bonvoy, visit marriottbonvoy.com. To download the Marriott app, go here. Travelers can also connect with Marriott Bonvoy on Facebook, Twitter, Instagram and TikTok.