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.

Marriott International Accelerates Growth in Poland With More Than 10 Anticipated Openings in the Pipeline

Expected additions will add more than 1,200 rooms to the company’s global portfolio

Marriott International, Inc., announced its plans to expand its portfolio in Poland with the expected addition of more than 10 properties in the next few years, including the debut of two brands - Le Méridien and Element Hotels by Westin - in the market. The anticipated openings will further enhance the company’s footprint in the country, where it currently has a portfolio of 24 properties and over 4,500 rooms across 12 brands and eight cities - Warsaw, Sopot, Krakow, Poznan, Katowice, Wroclaw, Gdynia and Szczecin. The planned expansion is also in line with the strategic development of the company’s luxury, premium and select service portfolio across key leisure and business destinations in the Eastern Europe region.

Jerome Briet, Chief Development Officer, Europe, Middle East & Africa, Marriott International commented, "Marriott International remains focused on growing and diversifying its brand portfolio and experiences in Poland to meet the strong demand for travel throughout the country. With our captivating portfolio of brands, world-class distribution platform and Marriott Bonvoy, our award-wining travel program, we continue to drive robust growth opportunities with owners and franchisees in the market.”

Marriott continues to see strong growth momentum for its premium brands in Poland. The company anticipates bringing Le Méridien’s European heritage and chic signature programming to the country with the expected opening of Le Méridien Krakow Royal in 2025. The company also plans to expand the presence of its Collection brands in the market with the slated opening of a Tribute Portfolio hotel in Warsaw and an Autograph Collection hotel in Wroclaw. Plans also include the addition of a second Renaissance hotel, with a projected opening in Gdansk Old City.

The company’s select service brands also continue to be a strong driver of growth in the Polish market. Element by Westin is anticipated to make its debut in the country this spring with the opening of Element by Westin Wroclaw, which will meet the demand for extended-stay accommodation in the market. Four Points by Sheraton builds upon its current portfolio with projected openings in Poznan and Wroclaw in 2025. The playful Moxy Hotels brand is slated to open its fifth property in the market next year with a hotel in central Warsaw.

In addition, Marriott also plans to further expand its luxury portfolio in Poland with the anticipated addition of its second Luxury Collection property, H15 Luxury Palace, a Luxury Collection Hotel, which will be situated within the Lubomirski Palace in the historic city of Krakow.

Briet added, "We are seeing significant growth in the market through conversion opportunities, which further highlights the trust owners have in Marriott International and the reputation of our world-class brands. More than half of our development pipeline in Poland features conversion and adaptive re-use projects.”

Poland is home to 12 of the company’s brands, each serving differentiated experiences across traveller segments. The brands currently present in the country include: The Luxury Collection in the luxury segment; Marriott Hotels, Sheraton, Renaissance Hotels, Autograph Collection, Tribute Portfolio and Westin in the premium segment; Courtyard by Marriott, Four Points by Sheraton, Moxy Hotels and AC Hotels by Marriott, in the select service segment.

Marriott International, Inc. announced it has signed an agreement with Victoria Park Hotels Ltd. to launch The Park Lane Hong Kong, Autograph Collection in early 2025.

Marriott International, Inc. announced it has signed an agreement with Victoria Park Hotels Ltd. to launch The Park Lane Hong Kong, Autograph Collection in early 2025. The Park Lane Hong Kong, Autograph Collection is expected to join Autograph Collection Hotels’ portfolio of over 300 independent properties in the most desirable locations across the world, each with its own unique perspective on heartfelt design and hospitality.

“We are delighted to work with Victoria Park Hotels to bring Autograph Collection Hotels to Hong Kong," said Yibing Mao, President, Greater China, Marriott International. “It further underscores our commitment to grow our footprint in Hong Kong, an iconic international destination known for its unique culture that connects east and west. We look forward to providing broader breadth of our best brands and experiences that appeal to travelers around the globe."

"Victoria Park Hotels are excited to work with Marriott International for our flagship, The Park Lane Hong Kong. Joining the Autograph Collection brand is a perfect match, recognizing Park Lane's 50 years' legacy in Hong Kong and celebrating its' uniqueness, whilst enjoying the strong global distribution and loyalty strength of the world's leading hospitality organization " said Charles Chan, CEO Victoria Park Hotels.

The Park Lane Hong Kong, Autograph Collection will be located on Gloucester Road in Causeway Bay, home to Victoria Park, Hong Kong Island’s largest public park. The hotel will be within a 5-minute walk to Causeway Bay Metro Station and within 10 minutes’ walk to major corporate venues such as the Lee Garden and World Trade Center. The Hong Kong Convention and Exhibition Center and Hong Kong’s key business district, Central, are only a 5-minute drive from the property, and Hong Kong International Airport is a 35-minute drive away.

The hotel is part of a 28-story mixed-use development with retail outlets on the ground and first floors. It is anticipated to have 820 guest rooms, an executive lounge, three distinctive dining venues and over 1,700 square meters of event spaces as well as recreational facilities. Selected guest rooms will feature sweeping views of Victoria Harbour, and other rooms will offer views of the city or Victoria Park.

Marriott International Becomes First Hospitality Company to Introduce Neuroinclusive Practices at Its Largest Customer Events

Leveraging work from Google Xi’s The Neu Project, Marriott strives to create a more inclusive experience for meeting attendees

Marriott International, Inc., a hotel industry leader for more than 95 years, today announced its commitment to incorporate neuroinclusive practices at Marriott-hosted customer events of 250 people or more globally. This commitment is a result of joining forces with The Neu Project, an initiative from Google’s Experience Institute (Xi) that aims to share resources designed to better accommodate and create a more inclusive experience during meetings and events for neurodivergent attendees. These practices are initially being previewed at Marriott’s Corporate Partnership Customer Conference, THE EXCHANGE, currently taking place November 28 through December 1, 2023 at the JW Marriott Desert Springs Resort & Spa in Palm Springs, CA.

Approximately 15-20 percent of the world’s population has neuro differences, including ADHD, obsessive-compulsive disorder, autism, dyslexia, epilepsy, and Tourette Syndrome.* In 2022, the Google Experience Institute launched The Neu Project in order to demystify and educate event professionals on the design of more neuroinclusive experiences through a helpful guide and checklist.

The following neuroinclusive practices will be incorporated at Marriott-hosted customer meetings and events of 250 people or more:

Quiet Room: A dedicated room will be available during Marriott customer events for recovery from sensory overwhelm, restoration and regulation. Designed to foster the physical, emotional, and mental well-being of attendees, the room will serve as a calming retreat where guests can break from the event to manage fatigue, overload and/or sensory needs.

Tools and Resources: At registration, event attendees will have the opportunity to request various tools to better accommodate their needs, including sensory & fidget toys, noise canceling ear plugs, sleep masks, sunglasses, printed agendas and venue maps, and details about loud music, flashing lights or surprise moments taking place during the event.

Closed Captioning for Main Stage Presentations: Real-time subtitles and captions will be available on-screen during main stage event and conference presentations.

“Grounded in our commitments to innovation and inclusion, Marriott is dedicated to making meetings and events more accessible for everyone,” said Drew Pinto, Executive Vice President and Chief Revenue & Technology Officer, Marriott International. “The Neu Project is a driving force in this space, and we look forward to working jointly with them, along with the neurodivergent community, to deepen our understanding of neurodivergent needs in order to truly welcome all.”

Over the past two years, Marriott has collaborated closely with The Neu Project to learn directly from the neurodivergent community. The company has already begun implementing various neuroinclusive practices at its recent customer events, including a quiet room and tools and resources at both THE EXCHANGE: Association Masters in Phoenix, AZ and THE EXCHANGE: Europe in Madrid, Spain. Last month, Marriott and The Neu Project also implemented a quiet room for attendees at IMEX America, an annual industry event in Las Vegas, NV where members of the global business events community come together.

Looking ahead to 2024, Marriott will further its neuroinclusion efforts by conducting active listening sessions with the community through conversations with The Neu Project and people who are neurodivergent, which will help shape future content.

“The Neu Project was born out of a desire to rethink event experiences post-pandemic, and has since grown into a major initiative that is driving change at events across industries,“ said Megan Henshall, Global Events Strategy at Google. “Marriott understands that creating environments where differing perspectives and experiences can come together boosts creativity, and we have witnessed their passion for increasing inclusivity at meetings and events. We’re excited to continue working with them as we strive to create more inclusive experiences with and for the neurodivergent community.”

Marriott’s implementation of neuroinclusive practices for meetings at select hotels builds on its fundamental core values of advancing diversity, equity and inclusion. Through third-party partners like Disability:IN, the leading nonprofit resource for business disability inclusion worldwide, Marriott offers a variety of resources to improve accessibility at meetings, events and conferences.

For more information on Marriott International’s meetings and events offerings and capabilities, visit https://marriottbonvoyevents.com/.

Marriott International Reports Third Quarter 2023 Results

Third quarter 2023 comparable systemwide constant dollar RevPAR increased 8.8 percent worldwide, 4.3 percent in the U.S. & Canada, and 21.8 percent in international markets, compared to the 2022 third quarter;

• Third quarter reported diluted EPS totaled $2.51, compared to reported diluted EPS of $1.94 in the year-ago quarter. Third quarter adjusted diluted EPS totaled $2.11, compared to third quarter 2022 adjusted diluted EPS of $1.69;

• Third quarter reported net income totaled $752 million, compared to reported net income of $630 million in the year-ago quarter. Third quarter adjusted net income totaled $634 million, compared to third quarter 2022 adjusted net income of $551 million;

• Adjusted EBITDA totaled $1,142 million in the 2023 third quarter, compared to third quarter 2022 adjusted EBITDA of $985 million;

• The company added approximately 17,200 rooms globally during the third quarter, including roughly 13,000 rooms in international markets and more than 4,900 conversion rooms;

• At the end of the quarter, Marriott’s worldwide development pipeline totaled more than 3,200 properties and nearly 557,000 rooms, including roughly 40,300 of pipeline rooms approved, but not yet subject to signed contracts. Approximately 238,000 rooms in the pipeline were under construction as of the end of the third quarter;

• Marriott repurchased 4.8 million shares of common stock for $950 million during the third quarter. Year to date through October 31, the company has returned $3.7 billion to shareholders through dividends and share repurchases.

Marriott International Signs Agreement with Pt. Pakuwon Jati Tbk. to Build Three Properties in Indonesia’s New Capital City

Marriott International, Inc. announced it has signed a Hotel Management Agreement with Indonesian real estate developer, PT. Pakuwon Jati Tbk. to open three properties in Indonesia’s new capital city, Ibu Kota Negara Nusantara. The multi-deal agreement was signed by President and CEO of Marriott International Anthony Capuano and President Commissioner of PT. Pakuwon Jati Tbk. Alexander Tedja.

“We are thrilled to be working with PT. Pakuwon Jati Tbk. on this landmark agreement,” said Ramesh Jackson, Area Vice President, Indonesia and Malaysia, Marriott International. “This milestone signing underscores our commitment to strategically expand our footprint in Indonesia, and we are pleased to also support the local government’s efforts to accelerate the country's economic transformation especially with the designation of Indonesia’s new capital city in Nusantara.”

Meaning “archipelago” in ancient Javanese, Nusantara is a symbol of national identity and planned as a smart forest city, in line with Indonesia’s commitment to achieve zero carbon emissions and 100% new and renewable energy by 2060. With the agreement, Marriott expects to debut three brands – Four Points by Sheraton, Westin Hotels & Resorts and Tribute Portfolio – in the highly anticipated destination, featuring transformational experiences and destination-rooted authenticity.

“We are excited to partner with Marriott International for this historic project,” said Alexander Tedja, President Commissioner of PT. Pakuwon Jati Tbk. “We are certain that through this project, we will inspire travelers to embark on new journeys to Indonesia’s new capital city.”

Four Points by Sheraton in Nusantara

Slated to be the first of these three openings, the property is expected to boast 300 rooms with facilities that ranges from an outdoor pool, function spaces with natural daylight and a gym with state-of-the-art equipment. Designed for the smart independent traveler, Four Points offers a casual and relaxed ambiance where classic and industrial elements meet modern design, creating spaces that are sophisticated and carefree in character.

The Westin in Nusantara

The Westin in Nusantara is anticipated to have 200 rooms and suites featuring the brand’s iconic Heavenly® Bed. Plans also call for three restaurants, three bars & lounges, function spaces, meeting rooms, swimming pool, WestinWORKOUT ® Fitness Studio, Heavenly Spa by Westin™, and The Westin Kids Club. Guided by Westin’s six pillars of well-being, the brand continues to evolve and deliver its signature wellness programs to adapt to the needs of the modern traveler and deliver industry-leading experiences designed to empower guests to be the best version of themselves.

Tribute Portfolio in Nusantara

Plans for the hotel include 150 rooms and suites, including a signature destination dining venue, a café, pool bar and lobby lounge. The property amenities expect to feature an outdoor swimming pool, gym and spa. Tribute Portfolio is a growing global family of independent hotels drawn together by their individuality, passion for captivating design, and their drive to create distinct, vibrant social settings for guests and locals alike.

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W Hotels Unveils Architectural Icon in Australia’s Capital City With the Opening of W Sydney

W Hotels, part of Marriott Bonvoy’s global portfolio of over 30 extraordinary hotel brands, today announces the highly anticipated opening of W Sydney. Located in a dramatic curved structure rising over Darling Harbour, W Sydney is set to become a coveted destination for travelers and Sydneysiders alike, bringing new energy and a modern take on luxury to the city and harbour waterfront.

“W Sydney marks our W Hotels brand’s triumphant return to Sydney, a long-awaited addition to our robust portfolio in Australia, following our recent debuts in Melbourne and Brisbane,” said George Fleck, Vice President and Global Brand Leader of W Hotels. “W Sydney will cultivate a new cultural and social hub in the vibrant Darling Harbour precinct. It is the perfect canvas for a non-conformist approach to the luxury hospitality landscape with W’s bold and energetic ‘Whatever/Whenever’ service ethos, dynamic design, and immersive programming as we celebrate Sydney through a new lens.”

A Beacon of Bold Design

Located within The Ribbon and designed by acclaimed Australian architects, Hassell, W Sydney rises above the roadways to hug Darling Harbour. Its exceptional interiors are designed by London-based Bowler James Brindley, who conceived W Sydney through the authenticity of the city’s history, spirit, and lore; from the marine-inspired rooms and suites to the distinctive restaurant and bars. At the heart of the hotel’s design story is ‘the larrikin,’ a quintessentially Australian character whose strong spirit informs and inspires the hotel’s luxe yet unconventional interiors.

From the moment guests step past the W sign, inspired by the Australian flower Waratah, they are on a design-led journey. The copper-clad entry pays homage to subterranean Sydney and its disused railway tunnels, and an illuminated vertical promenade sweeps guests up into Living Room, a vivid blue space that reinvents the conventions of a traditional lobby by turning it into a social hub. Embracing a ‘Future Noir’ theme, Living Room is punctuated by an electric blue circular bar and nest-like seating that reference the Australian Bowerbird, a larrikin of the bird world. W Sydney’s 588 guestrooms, including 162 exceptional suites, draw inspiration from the hotel’s harbourside location and nearby beaches, exuding marine-chic in their nautical white and navy-blue palette and undulating walls that echo the sails of yachts in the marina below. Bathrooms are rendered in deep oceanic blue and walk-in wardrobes feature a burst of graphic, inflorescent red and pink Waratah flowers for a playful touch.

Cuisine Scene

Across all its spaces, W Sydney channels the boundless energy of the Harbour City and its culture of inclusivity with a tuned-in, curious attitude, amplified through always-on programming. Electrifying the city’s culinary and nightlife scenes, W Sydney brings four new dining and bar venues across three exciting levels. BTWN embraces its unique setting adjacent to the flyover, drawing on its urban surroundings and weaving the iconography of night food markets into its spaces. Leading the culinary adventures at BTWN is Head Chef Chris Dodd, an alumnus of Aria and Blue Door, whose menus hero the produce of New South Wales. Just as other restaurants in town are winding down, BTWN comes alive with 2AM: dessertbar, a late-night hotspot created in collaboration with Singaporean dessert guru Janice Wong. Living Room’s menus embrace the hotel’s location on the edge of Asiatown with a focus on Sake and Soju, as well as Asian small bites. 29/30 is a two-level bar with uninterrupted harbour views, the perfect place to celebrate Sydney. A beacon at the apex of Darling Harbour, the WET Deck (pool) level bar evokes an underwater world with coral-inspired lighting and is a great spot for casual tapas and cocktails. Meanwhile, Level 30 above takes things up a notch with elevated cocktails, a menu of vintage Champagnes by the glass, and the above-sea-level décor of a superyacht.

Up and Away

Switching the mood, AWAY Spa is an oasis of concrete calm designed to leave guests feeling rested and recharged in an idiosyncratic but nevertheless deeply restorative space. The five treatment rooms and connecting spaces are gently enclosed by the meditative, geometric art of Bradley Eastman (aka Beastman). In addition to unique circular pods for beauty treatments, the spa features a bar for those who like to socialize while they decompress. The hotel’s FIT Gym is complete with Technogym equipment, whereas WET Deck is a place to chill poolside with stellar views of Darling Harbour. The 30-metre open-air infinity pool showcases a giant jellyfish motif crafted from vivid glass mosaic tiles, a further nod to the hotel’s joyful eccentricity.

Business Pleasure

Whilst W Sydney is destined to be Sydney’s newest playground, it also means business. Located just steps from Sydney’s International Convention Centre, the hotel features 1300-square-meters of exceptional event space across eight versatile rooms. Set on level five, W Sydney’s 592-square-meter pillarless Great Room features floor-to-ceiling windows that afford extraordinary views of the city. The design connects to the lively Darling Harbour setting, with light fittings and a graphic carpet that explode in a creative tribute to Sydney’s famous fireworks.

“W Sydney reimagines luxury for a new era, creating a vibrant new scene for Sydneysiders and visitors to the city,” says Craig Seaward, General Manager of W Sydney. “It’s a complete departure from the city’s traditional hotels and this unique W spirit is something you feel at every touchpoint, from our eclectic venues to the cool blue rooms and high energy programming. I can’t think of a better location for our new W hotel than Sydney’s amazing harbour. We can’t wait to welcome guests again and again.”

JW Marriott Goa, Now Open!

Set in an unparalleled location along the golden Goan coastline and close to landmark attractions, historic forts, churches, and pristine beaches, JW Marriott Goa is the perfect getaway and an embodiment of the JW Marriott principle of mindfulness. With thoughtfully crafted spaces, transformative experiences and sophisticated style, the new hotel is poised to be an oasis of luxury and warm hospitality, empowering guests to focus on feeling revitalized in mind, body and spirit.

“JW Marriott is at the forefront of the evolution of luxury, blending a legacy of extraordinary hospitality with a contemporary commitment to mindfulness and well-being that continues to be a priority for today’s luxury traveler,” said Bruce Rohr, Global Brand Leader, JW Marriott. “JW Marriott Goa embodies this modern approach to luxury through its thoughtful design, emphasis on serene spaces and connection to the natural world.”

“We are delighted to announce the opening of JW Marriott Goa. This opening marks a milestone for Marriott International’s 150th opening in South Asia. It solidifies our commitment in the region and signifies the trust our owners have in us,” said Ranju Alex, Area Vice President, South Asia, Marriott International. “We remain confident in the strength of our brands, our team, and we shall continue to pave the way for aggressive expansion with our strong pipeline of hotels.”

The new hotel is located along the picturesque coastline of Vagator, Goa, minutes from historic Chapora Fort and Chapora and Vagator beaches, famous for their dramatic cliffs and breathtaking sunset views. This popular travel      destination is approximately 27 kilometers from the new Mopa Airport in North Goa and 43 kilometers from Goa International Airport.

Thoughtful Design

Inspired by the rich culture and traditions of Goa, the 151-room JW Marriott Goa reflects the tranquility and beauty of its surroundings, with an architectural narrative featuring local artifacts such as wooden paneling, mother-of-pearl detailing, intricate glassware chandeliers and water fountains that accentuate the natural marble and stone throughout its serene spaces. The use of neutral color palettes of gray and light sand, along with soft ambient lighting, complements the abundant greenery of its natural surroundings. Goan cultural references and elements of modern design interweave to create a sense of place in a peaceful sanctuary. Guestrooms feature balconies that open to breathtaking ocean views, and luxurious suites offer private plunge pools. 

Inspired Culinary Creations

JW Marriott Goa features four inviting dining venues to suit all occasions. JW Kitchen is the hotel's all-day restaurant with a theater-style open kitchen, serving globally-inspired cuisine and exquisite local dishes, along with indulgent Sunday brunches and a special children's selection. Pérola is an impeccably-appointed French-style lobby bar with a daily Afternoon Tea service, ideal for casual meetings and get-togethers over a glass of wine, signature coffee or tea, and light snacks. Guests can savor Mediterranean cuisine and exotic cocktails at the hotel's sky-dining Água Bar and Café, perched atop the hotel overlooking the infinity pool and spectacular views of the Goan coast. Complementing the resort’s commitment to healthy dining, many of the seasonal vegetables and fresh herbs featured on the menus are grown in the hotel's signature JW Garden. Guests can also harvest the fresh produce within the garden's calming spaces as they reconnect with their loved ones in natural surroundings.

Serene Spaces

For guests seeking relaxation and rejuvenation, the hotel offers holistic treatments at Spa by JW, which features Goa’s first and only Turkish and Moroccan hammams, or steam rooms. The hotel's modern gym, JW Fitness, showcases the latest cardio and weight equipment, and a stunning outdoor infinity pool with poolside cabanas where guests can enjoy a relaxing swim and lounge in the warm tropical sunshine.

The Family by JW program puts families first, offering an entertainment center with virtual reality games, a bowling alley and a children's play area for quality family time together. Kids can learn the art of candle making, create pasta necklaces, enjoy board game competitions, and more, while adults can join Zumba classes, chakra healing sessions, and Gua Sha workshops. Fun-filled activities for all ages, such as water polo and pot painting, allow     families to create unforgettable holiday memories.

Spaces For Connection

The hotel offers a total of 18,752 square feet of indoor and outdoor event spaces, including two well-appointed meeting rooms as well as the splendid 4,607-square-feet Grande Salão, an elegant ballroom with an outdoor terrace, complete with the latest audio-visual technology, Wi-Fi and a dedicated events team for seamless and memorable meetings, weddings and celebrations.

“Guests arriving at JW Marriott Goa step into a luxury oasis, set like a rare jewel in one of India's finest tropical beach destinations. Our hotel is a haven of tranquility inspired by its natural surroundings where guests can seek well-being      as well as explore all the vibrant attractions of Goa and the genuine hospitality of its people. We look forward to welcoming travelers to discover all that beautiful Goa has to offer," said Manav Malhotra, General Manager, JW Marriott Goa.

Shillong Baking Company, now open!

Courtyard by Marriott Shillong unveils its finest patissiere and much anticipated Shillong Baking Company.

Courtyard by Marriott Shillong is thrilled to announce the launch of its latest addition, the Shillong Baking Company. Located within the hotel, the Shillong Baking Company offers guests and locals a selection of delectable baked goods, pastries and beverages. Each treat from coffee and fresh and flavourful pastries baked at dawn, to more substantial bites, all are masterfully crafted by the in-house pastry Chef Shanti Priya Manna. The outlet features an Interactive baking area that is always creating the next irresistible treat.

The Shillong Baking Company offers an aromatic and refreshing experience – the perfect spot for those looking for a quick bite or a leisurely snack. The menu features a divine fusion of traditional patisserie and fresh bakes with superior quality and taste, providing guests with a heavenly experience. Celebrate birthdays, anniversaries, and other special events with Shillong baking company's best-in-class personalized cakes inspired by current fashion, custom-made for the occasions.

The bakery offers a wide range of bread, cakes, cookies, pastries like ‘Red Velvet’, perfectly soft and chewy, gorgeously red and dotted with creamy Chocolate Chips, ‘Soft Centred’, Thick and chewy Chocolate Cookies filled with gooey pockets of Belgian Chocolate, ‘Coconut’, Overloaded with Coconut with Snchy on the outside and chewy and soft inside, and other baked goods that are freshly baked every day. The menu also includes a variety of beverages like, ‘Ristretto’, ‘Flavoured cappuccino’, ‘Cafe Latte’, ‘Emerald Green Tea’, ‘Mystical Assam Tea’, ‘Spice Carnival Red Tea’ to name a few.

Patrons can experience the much-loved taste of Shillong Baking Company by indulging in signature desserts like ‘Strawberry danish’, ‘Butter and chocolate croissant’, ‘Local fresh fruit cheesecake’ to name some. The menu will also embrace an assortment of sugar free confectionery to relish.

"We are excited to launch the Shillong Baking Company, which is the latest addition to our food and beverage offerings at Courtyard by Marriott Shillong. The café aesthetics has been designed to initiate conversations around food, nature, while also serving people the best and the latest from the world of baked food. Our guests and locals will now have a new destination to satisfy their sweet tooth or grab a quick bite from Shillong Bakery Company," said Mr. Tushar Nagar, General Manager of Courtyard by Marriott Shillong.

The expansive space is designed to provide a welcoming and comfortable atmosphere for its guests. The interiors are decorated with warm colors that offer the perfect refuge for quiet business lunches or a place to relax while relishing the wide assortment of exquisite patisserie and the beverages.

The Shillong Baking Company is open daily from 9 am to 8 pm. Guests and locals can also place orders for custom cakes and other baked goods for special occasions. So, head to Shillong Baking Company to enjoy your favourite gourmet delights.

For Reservations: +91 364 2300 600

Address: Jail Road, Police Bazaar Shillong, Meghalaya 793001 

Website: www.courtyardshillong.com

Marriott Named One of FORTUNE’s Most Admired Companies

Marriott International has been named one of FORTUNE Magazine’s 2023 World’s Most Admired Companies for the 23rd consecutive year. Each year, FORTUNE identifies companies with the strongest reputations across industries and recognizes companies for their commitment to social responsibility, financial performance, innovation, and ability to attract and retain top talent. Marriott is ranked 16th across all companies and 1st in the category of Hotels, Casinos, and Resorts.

“We are honored to be named to this year’s list and proud to represent the best of our industry,” said Anthony Capuano, Chief Executive Officer, of Marriott International. “As a company that cares deeply about people, I am proud of our associates around the world who made this recognition possible by living our core values, putting people first, and caring for our guests, each other, and our communities.”

For decades, Marriott has been recognized for its outstanding workplace programs, leadership excellence, commitment to diversity, equity, and inclusion, and industry-leading initiatives. For more information, visit the company’s 2022 Serve 360 Report.

Marriott International Set to Expand Portfolio With Expected Addition of 30 Select Service Hotels in Greater China by the End of 2023

The company’s “Brand + Destination” strategy in Greater China is expected to capture robust travel demand by matching destinations with brand debuts and entries

Marriott International, Inc., today announced plans to expand its select service portfolio in Greater China with the expected addition of 30 hotels in the segment by the end of 2023. The additions are fueled by the strong demand for Marriott’s select service accommodations in emerging destinations and complement an existing portfolio of more than 460 properties in the region. Marriott’s select service portfolio currently includes the following brands spanning across 67 cities in Greater China: Moxy Hotels, Fairfield by Marriott, Courtyard by Marriott, Four Points by Sheraton, AC Hotels by Marriott, Aloft Hotels, and Element Hotels.

Marriott’s portfolio of 30 extraordinary hotel brands offers unique brand choices to capture changes in consumer needs and characteristics across different destinations. The expansion of the select service portfolio in the region will elevate consumers’ travel choices in China’s second-and third-tier cities, such as Foshan and Changchun, while expanding its presence in first-tier cities like Shanghai.

“Representing over 50 percent of Marriott International hotels expected to open in Greater China across 2022 and 2023, our select-service brand portfolio is a growth engine for the company as we continue to expand,” said Gavin Yu, Chief Development Officer, Greater China, Marriott International. “With a well-defined ‘Brand + Destination’ development strategy, we see great growth potential in providing approachable and moderately priced choices across emerging destinations. We plan to continue to work with our owners and franchisees to enhance our select-service brands portfolio through new-builds and conversions in destinations where our guests aspire to travel."

The company is also enhancing its strategic positioning in Greater China through dual-brand projects and its franchise-plus model. The unique design of the dual-brand model will accommodate travelers’ growing desires for flexible accommodation by offering consumers more choices. In 2022, the company signed six dual-brand hotel projects representing 14 hotels, among which three are under the Fairfield by Marriott brand and two under the Four Points by Sheraton brand. With the franchise-plus model, Marriott helps to streamline hotel openings and initial stage operations and uphold brand quality. The model involves Marriott working closely with franchisees and recommending candidates for the initial general manager who, once employed by the franchisee, works toward the hotel opening and throughout the initial year of operations by leveraging Marriott’s supports, system, and resources.

Upcoming anticipated openings across Greater China include:

The highly anticipated brand debut of AC Hotels by Marriott in Suzhou is expected to welcome guests in December 2022 with a sleek, purposeful hotel design that offers an effortless experience to provide guests with everything they need. Travelers heading to iconic destinations such as Chengdu and Wuhan can soon enjoy AC Hotels’ refined experience through seamless service, curated furnishings and artwork, and thoughtful programming.

The energetic Moxy Hotels brand, which currently has six existing hotels in five Chinese cities including Shanghai, Shenzhen, Xi’an, etc., is set to bring its “Play On” spirit to more cities through its anticipated debut in Suzhou and Xi’an. Preparing for its future entry into Chongqing and Ningbo, Moxy Hotels is expected to introduce a Chinese version of its design prototype, incorporating local influences into its vibrant, social interior spaces to offer guest experiences that are always buzzing with high energy.

Evoking the feelings of calming simplicity, Fairfield by Marriott brings comfort to travelers who look for quality and value with its contemporary and uplifting design inspired by natural surroundings. The opening of the brand’s 150th hotel in Greater China — Fairfield by Marriott Hangzhou Xihu District — earlier this year marked the company’s ambition to extend diversified, affordable travel experiences and products to guests. In 2023, 10 Fairfield by Marriott hotels are expected to enter several niche destinations in eastern China, including the county-level cities Kunshan and Zhuji, which are the respective origins of Kunqu Opera and Wuyue culture.

The trailblazing Courtyard by Marriott brand expects to celebrate its 50th hotel milestone in the Chinese market in the middle of 2023, with anticipated property additions in Chongli, the location for skiing events during the 2022 Winter Olympics, as well as in Jiuzhaigou, a nature reserve designated by UNESCO as a World Heritage Site. The hotels will allow guests to escape to hidden gems across the country and offer an inviting hospitality experience for business and leisure guests to smoothly shift from work to relaxation.

Four Points by Sheraton, with the most robust share of Marriott’s select-service pipeline in Greater China, enables guests to kick back and relax while enjoying the brand’s signature Best Brews® program offering local beers on-tap. The brand expects to accelerate its growth in Greater China with over five planned openings in 2023. Four Points by Sheraton will offer an authentic sense of the local culture paired with friendly, genuine service to allow guests to unwind in a casual environment.

The future-focused brand for music enthusiasts and tech-savvy travelers, Aloft Hotels, is set to expand its footprint in 2023 with two hotel openings in Beijing and Yantai. The brand will deliver a “different by design” experience to bring people together through a lively social scene and innovative music programming.

In addition, travelers will soon be able to immerse themselves in a well-balanced and nature-influenced environment with the planned opening of Element Hotels in Guangzhou Baiyun in 2023.

Marriott International is well-positioned in Greater China with over 460 existing properties, spanning 23 brands in 120 cities and destinations. With a vision to deliver a one-of-a-kind travel experience, Marriott is committed to inspiring travel and connecting with guests through its award-winning travel program, Marriott Bonvoy, and its unparalleled portfolio of 30 leading brands.

Marriott International Signs Agreement for Inaugural Property in Papua New Guinea

Marriott Executive Apartments Port Moresby is Expected to Open in Mid-2023

Marriott International, Inc. today announced it has signed an agreement with Steamships Trading Company Ltd., to debut its first property in Papua New Guinea, the Marriott Executive Apartments Port Moresby. Slated to open in mid-2023, the property is set to be located in the heart of Port Moresby within the mixed-use development of Harbourside South.

Mr. Geoff Cundle, Chairman of Steamships, said, “I’m delighted that Steamships will work with Marriott International at Harbourside South. Located in the CBD district of downtown Port Moresby, and overlooking the Coral Sea and Fairfax Harbour, this is set to be a flagship development for Steamships, and this property is an excellent fit within the overall Harbourside precinct. The Harbourside precinct connects Harbourside South’s retail, commercial, leisure, and residential facilities with the existing commercial floors and F&B outlets of Harbourside East and West. Residents and guests of Marriott Executive Apartments Port Morseby will be able to live, shop, relax, work, and dine within the luxury and safety of the precinct – the first of its kind in Papua New Guinea.”

Marriott Executive Apartments Port Moresby is anticipated to feature 88 modern residential apartments – offering space, ambiance, and privacy of residential living, enabling a comfortable stay away from home. The new property is slated to feature spacious one and two bedroom apartments with separate living, sleeping, and working areas. Guests will also be able to enjoy additional amenities, including laundry services, kitchens equipped with a refrigerator, dishwasher, cooktop, microwave, and oven, and spacious dining areas.

“We are excited to work with Steamships Trading Company Ltd. to debut Marriott International’s first property in Papau New Guinea,” highlighted Sean Hunt, Area Vice President, Australia, New Zealand and Pacific, Marriott International. “Following our signing of Marriott Executive Apartments in Melbourne earlier this year, this is an exciting signing and testament to the confidence our owners have in this brand.”

Upon opening, Marriott Executive Apartments Port Moresby is expected to feature a lounge for residents and guests that offers a relaxed environment for light meals, self-service options and evening cocktails. Additional plans call for a spacious leisure floor which includes a lap pool, leisure pool, a well-equipped fitness center, three spa treatment rooms, and a recreational zone for children.

Marriott Executive Apartments Port Moresby will serve as an integral part of the new Harbourside South development, which also features a retail floor and three floors of A-grade commercial space. It will connect to the Harbourside East and West buildings on Port Moresby’s waterfront, which opened in 2015. The development offers quality commercial tenancies, the city’s finest restaurants and bars, a boardwalk, and marina.

Steamships Trading Company Ltd is listed on the Australian Securities Exchange (ASX) and Papua New Guinea’s National Stock Exchange (PNGX) and is part of the wider Swire Group, which includes the Hong Kong- listed Swire Pacific Ltd, owners of Swire Hotels, Cathay Pacific Airways and numerous other subsidiaries.

Marriott International Signs Landmark Agreement With Vinpearl to Add Eight Hotels in Vietnam

Agreement is set to further strengthen Marriott International’s presence in Vietnam with the expected addition of more than 2,000 rooms to its existing portfolio

Marriott International, Inc. today announced a strategic agreement with Vinpearl, Vietnam’s largest hospitality and leisure chain, to convert and develop 2,200 rooms across eight hotels in Vietnam - significantly expanding its portfolio of world-class hotels and resorts in the country. This collaboration expects to see the debut of the Autograph Collection Hotels brand in the country, while other planned openings span the following brands: Marriott Hotels, Sheraton Hotels & Resorts, and Four Points by Sheraton.

“We are thrilled to be working with Vinpearl to accelerate our growth in Vietnam,” said Rajeev Menon, President, Asia Pacific (excluding Greater China), Marriott International. “With the country’s solid foundation for a resilient economy, and continuous growth of its infrastructure especially in the tourism sector, we are confident this collaboration will enable us to better cater to our guests’ needs.”

Of the eight hotels, six are conversions that are expected to be part of Marriott’s system later this year.

Vinpearl Landmark 81, Autograph Collection is expected to serve as Vietnam’s first Autograph Collection hotel. The lifestyle hotel will join a diverse and dynamic collection of over 260 independent hotels around the globe hand-selected for their inherent craft and distinct perspective on design and hospitality. Currently known as Vinpearl Luxury Landmark 81, the hotel is set high up in a gleaming 461-meter tower on the banks of the Saigon River and is anticipated to feature 223 rooms and suites, three food and beverage outlets, 12 function spaces, a business center, spa, outdoor pool, and fitness center.

The Luxury Collection Debuts Hotel Clio in the Heart of Denver’s Vibrant Cherry Creek Neighborhood

Hotel Clio, a Luxury Collection Hotel, Denver Cherry Creek brings authentic epicurean moments and bespoke offerings to the Mile High City

The Luxury Collection, part of Marriott Bonvoy’s portfolio of 30 extraordinary hotel brands, today announced the opening of Hotel Clio, a Luxury Collection Hotel, Denver Cherry Creek. Owned by DiamondRock Hospitality Company and operated by Sage Hospitality Group, the luxury hotel nestled in the heart of Denver’s affluent Cherry Creek neighborhood debuts after undergoing a multi-million-dollar transformation, featuring a fully reinvigorated lobby experience along with refreshed interior spaces. Backdropped by the picturesque Rocky Mountains, Hotel Clio is poised to be Cherry Creek’s very own muse, inspiring visitors with enlivened excitement, refreshed sophistication and infusing a spirit of vibrant hospitality into all aspects of the guest experience.

“The opening of Hotel Clio is an exciting moment in the continued expansion of our portfolio of exceptional hotels and resorts across North America,” said Philipp Weghmann, Vice President and Global Brand Leader of The Luxury Collection. “The hotel’s stunning vistas, matched with refined service and singular epicurean experiences, will quickly establish it as one of the premier hospitality offerings in the greater Denver area.”

Situated in the heart of the city’s celebrated shopping and dining district, Hotel Clio boasts 193 spacious and stylish guest rooms and suites. In addition to a myriad of inspiring offerings within Hotel Clio, the property will serve as a gateway to Denver’s most desirable experiences – from the luxurious storefronts of Cherry Creek North to the base of the Rocky Mountains, where an abundance of outdoor adventures await.

Inspired Interiors and Golden Touches
Helmed by Wilson Ishihara Design, Hotel Clio’s interiors take cues from Cherry Creek’s origins in the Gold Rush era paired with the natural surroundings of the destination. Hotel Clio’s namesake “Clio,” the Greek muse of history, is fully realized in the hotel’s heritage-honoring design, grounded in a deep appreciation for the region’s background. Inspired by the story of William Green Russell striking gold at the confluence of Cherry Creek and South Platte River, the interiors reflect a unique sense of discovery and the inspiring hope of good fortune with subtle gold accents complemented by rich earth tones.

Welcomed with a sit-down check-in, Hotel Clio’s Oshibori-style arrival experience is a marvel for the senses – complete with a custom cocktail, hot and cold scented towels infused with the hotel’s signature aroma of White Blossom Tea, and a curated welcome playlist. The high-touch welcome experience is enhanced by thoughtful design details – beautiful marble floors and custom art pieces – all anchored by a grand stone fireplace. The design seamlessly blends influences of the region’s natural elements with touches authentic to the destination, creating a dramatic, yet serene atmosphere. The idea of “confluence,” a term that describes the junction of two rivers, is expressed in the spatial design details – such as flooring evoking the flow of the river, cerused oak, and brass accents highlighted with custom table lamps designed to emulate the look of a gold miner’s lamp.

Marriott International Debuts Its 8,000th Property with the Newly Opened Marriott Bethesda Downtown at Marriott

Marriott International (NASDAQ: MAR) today celebrated the opening of its 8,000th property – Marriott Bethesda Downtown at Marriott HQ, a 12-story stylish retreat adjacent to Marriott International’s soon-to-open new global headquarters in Bethesda, Maryland. The hotel opening signifies both a growth milestone for the company, as well as a remarkable moment in the Marriott story, as the company celebrates its 95th year. Marriott’s first lodging property, the Twin Bridges Marriott, opened in 1957 and was a four-story motor hotel in Arlington, Virginia.

“From the nine-seat root beer stand that my grandparents started nearly 95 years ago in downtown Washington, to the milestone opening of our 8,000th property, we have been fortunate to call this area our home,” said David Marriott, Director and incoming Chairman, Marriott International Board of Directors. “Marriott Bethesda Downtown at Marriott HQ reflects the continued transformation of the Marriott Hotels brand, and we are thrilled to embark on a new era of inspired travel and design with the opening of this hotel.”

Marriott Bethesda Downtown, part of the Marriott Hotels brand – the signature flag of Marriott Bonvoy’s 30 extraordinary brands – brings enriching, locally-influenced experiences to the global hospitality company’s home state. The hotel, owned by The Bernstein Companies and managed by Marriott International, is a gateway to the greater Washington, D.C. area and a destination in and of itself, featuring three innovative culinary concepts, including Bethesda’s first high-rise rooftop bar.

BUILT UPON INNOVATION
Exemplifying Marriott Hotels’ continued brand evolution, Marriott Bethesda Downtown sparks inspiration at every corner, with a modern, residential design and tailored solutions with locally-inspired accents. The hotel’s contemporary interiors illustrate a curated palette of materials inspired by the region’s natural attributes. Stone and tiles reminiscent of local Bethesda bluestone quarries greet guests at the hotel entrance leading to a grand staircase – the centerpiece of the glass-enclosed lobby brimming with natural light.

Faceted mirrors and floor-to-ceiling windows ripple throughout the hotel, infusing an abundance of natural light while also resembling reflections of the Potomac River.

Reimagined guest rooms and suites – with tailored, modern touches that inspire and nurture the needs of today’s traveler – feature multi-functional furniture, technology-enabled work surfaces with built-in universal adapters and UCS cords, and rose gold tinted mirrors. Hotel features include a spacious fitness center with Peloton bikes, a second-floor library highlighting local authors, and a curated art collection from the region’s emerging talent that is showcased throughout guest rooms and public spaces. A large-scale mural by multi-media artist Liz Collins, known globally for her abstract patterns, is an exclusively commissioned highlight.

Constructed to be LEED Gold certified with custom and sustainable design, the hotel features five expansive rooftop green spaces growing select ingredients for hotel menus and is designed to reduce pollution, save energy, and manage storm water.

Marriott News | Marriott International Reports Fourth Quarter 2021 Results

Fourth quarter 2021 comparable systemwide constant dollar RevPAR increased 124.5 percent worldwide, 143.6 percent in the U.S. & Canada, and 83.3 percent in international markets, compared to the 2020 fourth quarter;

• Fourth quarter 2021 comparable systemwide constant dollar RevPAR declined 19.0 percent worldwide, 15.3 percent in the U.S. & Canada, and 28.2 percent in international markets, compared to the 2019 fourth quarter;

• Fourth quarter reported diluted EPS totaled $1.42, compared to reported diluted loss per share of $0.50 in the year-ago quarter. Fourth quarter adjusted diluted EPS totaled $1.30, compared to fourth quarter 2020 adjusted diluted EPS of $0.12;

• Fourth quarter reported net income totaled $468 million, compared to reported net loss of $164 million in the year-ago quarter. Fourth quarter adjusted net income totaled $430 million, compared to fourth quarter 2020 adjusted net income of $39 million;

• Adjusted EBITDA totaled $741 million in the 2021 fourth quarter, compared to fourth quarter 2020 adjusted EBITDA of $317 million;

• The company added more than 86,000 rooms globally during 2021, including approximately 43,000 rooms in international markets and a total of over 18,000 conversion rooms. Net rooms grew 3.9 percent from year-end 2020;

• At year end, Marriott’s worldwide development pipeline totaled 2,831 properties and roughly 485,000 rooms, including approximately 19,000 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 2021.

Marriott International, Inc. (NASDAQ: MAR) today reported fourth quarter 2021 results.

Anthony Capuano, Chief Executive Officer, said, “The 2021 fourth quarter capped off a year that showed the incredible resilience of people’s desire to travel and the appeal of our broad portfolio of 30 global brands. We experienced significant progress in global RevPAR[1] recovery in 2021 despite the emergence of new variants and ongoing headwinds from the global pandemic. By the fourth quarter, global RevPAR was 19 percent below 2019 levels, a 40-percentage point improvement from the decline in the first quarter of the year. Global average daily rate (ADR) nearly recovered to pre-pandemic levels in the 2021 fourth quarter, while occupancy came in at 58 percent, down 12 percentage points versus 2019. Leisure demand continued to shine in the fourth quarter, with slower, yet continued improvement in business transient and group demand.

“Each of our regions saw meaningful continued RevPAR recovery in the fourth quarter compared to the third quarter, with the exception of Greater China, where recovery stalled due to their zero COVID policy. In the U.S. & Canada, RevPAR declined 15 percent compared to fourth quarter 2019 levels versus a 20 percent decline in the third quarter compared to 2019. Compared to 2019 levels, our international hotels posted a 28-percent RevPAR decline in the fourth quarter, a 12-percentage point improvement from the third quarter. While Omicron caused a temporary setback in global demand recovery in January, especially for business transient and group travel, new bookings across customer segments have rebounded to pre-Omicron levels. We are optimistic that the global recovery will progress meaningfully throughout 2022.

“Our development team had a strong 2021, signing approximately 92,000 rooms, of which more than 50,000 were in international markets and more than 40 percent were in the upper upscale and luxury tiers. During the year, we added more than 86,000 gross rooms to our distribution, a new annual record, 21 percent of which were conversions. We were pleased to post 3.9 percent net rooms growth for 2021, exceeding our previous expectations. With our momentum around conversions and our industry-leading pipeline, we are bullish about our ability to increase our footprint over the next several years. For 2022, we expect gross rooms growth approaching 5 percent and deletions of 1 to 1.5 percent, resulting in anticipated net rooms growth of 3.5 to 4 percent.

“While we are keeping an eye on the continued impact from Omicron, we look forward to the day when we reach a new normal where the impact from COVID-19 on travel has essentially disappeared. In the meantime, we continue to focus on driving revenues, controlling costs, maximizing cash flow, and improving our credit metrics. Assuming no meaningful setback in the global recovery, we could begin returning cash to shareholders later in 2022.

“As I finish my first year as CEO, I could not be prouder of how our associates have managed through this crisis. They have worked tirelessly to serve our guests, support our owners and franchisees, and assist each other. I am incredibly optimistic about Marriott’s future and look forward to continued recovery in 2022 and the prospects for meaningful growth in the coming years.”

Fourth Quarter 2021 Results
Marriott’s reported operating income totaled $635 million in the 2021 fourth quarter, compared to 2020 fourth quarter reported operating loss of $128 million. Reported net income totaled $468 million in the 2021 fourth quarter, compared to 2020 fourth quarter reported net loss of $164 million. Reported diluted earnings per share (EPS) totaled $1.42 in the quarter, compared to reported diluted loss per share of $0.50 in the year-ago quarter.

Adjusted operating income in the 2021 fourth quarter totaled $578 million, compared to 2020 fourth quarter adjusted operating income of $148 million. Adjusted operating income in the 2020 fourth quarter excluded impairment charges of $44 million.

Fourth quarter 2021 adjusted net income totaled $430 million, compared to 2020 fourth quarter adjusted net income of $39 million. Adjusted diluted EPS in the 2021 fourth quarter totaled $1.30, compared to adjusted diluted EPS of $0.12 in the year-ago quarter. The 2020 fourth quarter adjusted results excluded income tax benefits of $74 million ($0.23 per share), impairment charges of $88 million after-tax ($0.27 per share), and loss on asset sales of $4 million after-tax ($0.01 per share).

Adjusted results also excluded restructuring and merger-related charges, cost reimbursement revenue, and reimbursed expenses. These items totaled $38 million of after-tax profits ($0.12 per share) in the 2021 fourth quarter and an after-tax loss of $185 million ($0.57 per share) in the 2020 fourth quarter. See pages A-3 and A-13 for the calculation of adjusted results and the manner in which the adjusted measures are determined in this press release.

Base management and franchise fees totaled $737 million in the 2021 fourth quarter, compared to base management and franchise fees of $379 million in the year-ago quarter. The year-over-year increase in these fees is primarily attributable to RevPAR increases due to the ongoing recovery in lodging demand. Other non-RevPAR related franchise fees in the 2021 fourth quarter totaled $186 million, compared to $133 million in the year-ago quarter, aided by higher credit card and residential branding fees.

Incentive management fees totaled $94 million in the 2021 fourth quarter, compared to $44 million in the 2020 fourth quarter. The year-over-year increase was split evenly between the International and U. S. & Canada segments.

Contract investment amortization for the 2021 fourth quarter totaled $19 million, compared to $38 million in the year-ago quarter. The year-over-year change largely reflects impairments of investments in management and franchise contracts recorded in the 2020 fourth quarter.

Owned, leased, and other revenue, net of direct expenses, totaled a profit of $33 million in the 2021 fourth quarter, compared to a $27 million loss in the year-ago quarter, and reflects the ongoing recovery in lodging demand.

Depreciation, amortization, and other expenses for the 2021 fourth quarter totaled $54 million, compared to $71 million in the year-ago quarter. Expenses in the 2020 fourth quarter included $22 million of impairment charges.

General, administrative, and other expenses for the 2021 fourth quarter totaled $213 million, compared to $183 million in the year-ago quarter. The year-over-year increase primarily reflects higher compensation and legal costs.

Interest expense, net, totaled $91 million in the fourth quarter compared to $105 million in the year-ago quarter. The year-over-year decrease is largely due to lower debt balances.

Equity in losses were $0 million, an improvement of $87 million year over year, largely reflecting impairment charges recorded in the fourth quarter of 2020.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled $741 million in the 2021 fourth quarter, compared to fourth quarter 2020 adjusted EBITDA of $317 million. See page A-12 for the adjusted EBITDA calculation.

Selected Performance Information
The company added 120 properties (20,440 rooms) to its worldwide lodging portfolio during the 2021 fourth quarter, including over 3,500 conversion rooms and approximately 10,000 rooms in international markets. Twenty-three properties (4,955 rooms) exited the system during the quarter. At year end, Marriott’s global lodging system totaled 7,989 properties, with more than 1,479,000 rooms.

At year end, the company’s worldwide development pipeline totaled 2,831 properties with roughly 485,000 rooms, including 1,008 properties with more than 202,000 rooms under construction and 98 properties with approximately 19,000 rooms approved for development, but not yet subject to signed contracts.

In the 2021 fourth quarter, worldwide RevPAR increased 124.5 percent (a 124.9 percent increase using actual dollars) compared to the 2020 fourth quarter. RevPAR in the U.S. & Canada increased 143.6 percent (a 143.9 percent increase using actual dollars), and RevPAR in international markets increased 83.3 percent (an 84 percent increase using actual dollars).

Balance Sheet and Liquidity
At year-end 2021, Marriott’s net debt was $8.7 billion, representing total debt of $10.1 billion less cash and equivalents of $1.4 billion. At year-end 2020, the company’s net debt was $9.5 billion, representing total debt of $10.4 billion less cash and equivalents of $0.9 billion.

Investment Spending
Marriott anticipates that full year 2022 investment spending will total $600 million to $700 million. Total investment spending includes capital and technology expenditures, loan advances, contract acquisition costs, and other investing activities

Marriott Bonvoy Ò Makes Each Night Count Twice For Members With New Global Promotion

Marriott BonvoyÒ Makes Each Night Count Twice For Members With New Global Promotion

New Promotion Offers Bonus Earning Opportunities and Fast-Track to Elite Status

January 2022: Marriott Bonvoy, Marriott International’s award-winning travel program, is kicking off the year with a rewarding promotion, offering members bonus points and Elite Night Credits on each paid night of their stay, with a fast-track to Elite status and more points for free nights, experiences and more.

Registration starts today for the global promotion, which gives members 1,000 bonus points and an additional Elite Night Credit for each paid night of the member’s stay – effectively making each night count twice during the promotion earning period of February 8 to May 4, 2022. This means a new member could achieve Silver Elite status with just a five-night stay – unlocking elevated Silver Elite benefits such as priority late check-out and 10% bonus points on eligible future hotel stays – all while earning substantial bonus points towards their next free night, Marriott Bonvoy Moments experience, or even to put towards trip add-ons like flights or car rental.

There is no limit to the number of bonus points or bonus Elite Night Credits that members can earn during the promotion, meaning members can earn one bonus Elite Night Credit and 1,000 bonus points for each night of the promotion earning period.  As long as they are registered, members can begin earning bonuses from the very first eligible night that falls within the earning period, and on each eligible night thereafter.

The offer is global, providing more opportunities to experience the world through Marriott Bonvoy’s extraordinary hotel brands – whether that’s close to home or in the most inspiring destinations around the globe.  From distinctive luxury to smart conveniences, members can find their ideal stay through the thousands of hotels and resorts participating in Marriott Bonvoy.

Here are some important details:

• The promotion earning period runs from February 8, 2022 to May 4, 2022.

• Stays completed prior to registration are not eligible to earn bonus points or bonus Elite Night Credits with this promotion. Members must register here before April 20, 2022.

• With this promotion, members can earn unlimited bonus points and bonus Elite Night Credits during the 85-day earning period, up to 85,000 bonus points and 85 bonus Elite Night Credits.

• Members must book stays directly with Marriott on Marriott.com, Marriott Bonvoy Mobile app or through a reservations center. Rates available through most third-party online retailers and select travel agency rates do not qualify for this promotion.

• The following brands are not participating in the promotion: Homes & Villas by Marriott International, Marriott Executive Apartments® and Marriott Vacation Club® owner-occupied weeks. Ritz-Carlton Reserve®, BVLGARI, and other hotels that do not currently participate in Marriott Bonvoy® are also excluded from the promotion.

To see the Terms & Conditions, visit here.

In addition to the global promotion, members enjoy other benefits like exclusive member rates when they book directly with Marriott, contactless check-in with the Marriott Bonvoy mobile app and free wifi for every stay. To join Marriott Bonvoy for free and to learn more about all the benefits, visit Marriott.com

Marriott International Earns 100% Perfect Score on 2022 Human Rights Campaign’s Corporate Equality Index

Marriott International, Inc. today received for the ninth consecutive year a score of 100 on the Human Rights Campaign Foundation’s 2022 Corporate Equality Index (CEI), the nation’s foremost benchmarking survey and report measuring corporate policies and practices related to LGBTQ workplace equality.

The CEI rates companies on detailed criteria falling under four central pillars of non-discrimination policies across business entities; equitable benefits for LGBTQ workers and their families; supporting an inclusive culture; and corporate social responsibility.

“Marriott International has a more than 90-year history of fostering a culture of inclusion and belonging,” said Ty Breland, Executive Vice President, and Chief Human Resources Officer, Marriott International. “We are proud of this recognition for the ninth consecutive year and will continue to implement policies and programs that create a welcoming workplace for all.”

Marriott has consistently been recognized for its outstanding workplace and diversity, equity and inclusion programs. For a comprehensive list, please visit Awards and Recognition.

About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 8,000 properties under 30 leading brands spanning 139 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly-awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.

Marriott Guests Can Now Seamlessly Purchase Travel Insurance When They Book Directly with Marriott

Unique Plans Provide Protection for Guests’ Entire Trip

Today, Marriott announced guests residing in the U.S. can seamlessly ensure their domestic and international travels with Allianz Partners when booking their hotel stay on Marriott.com and the iOS version of the Marriott Bonvoy mobile app. Unlike typical travel insurance for individuals, Allianz Global Assistance plans developed for Marriott can cover everyone staying in the room(s) including friends or family and may provide reimbursement for pre-paid, non-refundable expenses like airfare, expenses incurred during covered travel delays and medical emergencies, and more – providing benefits for much more than just the cost of hotel stays.

Plans available to Marriott guests may include protection for eligible trip cancellation costs due to a covered illness, injury, and more, up to a maximum amount. They may also include benefits for unexpected expenses caused by covered travel delays and trip interruptions such as the cost of rebooking flights, booking an airport hotel room for the night, or paying for a taxi. Depending on the plan purchased, costs for covered emergency medical care during a trip and delayed or lost baggage or personal belongings may also be covered. In addition, the plans can cover other pre-paid, non-refundable trip expenses, such as tours, activities and entertainment and sports tickets.

“Taking care of our guests while they explore the world, has always been a core principle for our company and today’s less predictable travel environment, resulting from the pandemic, has made the need to protect travel decisions more urgent." said Peggy Roe, Global Officer, Customer Experience, Loyalty and New Ventures, Marriott International. “Together with Allianz Partners, we are designing new and innovative ways to provide guests with confidence and peace of mind when they travel. Our industry leading product provides protection for multiple travelers in the party and protects trip purchases beyond the hotel stay. Our new travel insurance product is another example of how we are transforming to provide more thoughtful benefits and value to travelers across their entire trip.”

“We’re delighted to offer Marriott’s valued guests the opportunity to conveniently purchase our award-winning travel insurance and assistance while booking their next stay on Marriott.com,” said Elena Edwards, CEO of Allianz Partners USA. “We’ve created new products just for Marriott customers, and we hope these products will provide travelers with the confidence they need to book their next memorable stay,” added Ricky Horwitz, Chief Sales Officer, Global Travel at Allianz Partners Group.

Other plan benefits include a 24/7 team of multilingual, trained experts to help guests with medical and other travel-related emergencies. Services can include providing destination information, arranging roadside assistance, and making transportation arrangements. Policyholders can also enjoy the benefit of concierge services and take advantage of personal assistance from a team of experts to help get the most out of their travels, like securing tickets to shows, making restaurant reservations and booking spa treatments or a round of golf.

With the launch of this collaboration with Allianz Partners, Marriott guests don’t have to spend valuable time researching and selecting travel insurance. Guests will be given the opportunity to purchase insurance for their trip when they select their preferred hotel on Marriott.com. To provide as much flexibility as possible, there are a range of Allianz Global Assistance policies that vary in price, coverage, and benefits.

When a guest chooses to purchase travel insurance, the cost is added to the total cost of their stay and is charged in a single transaction. Guests have the flexibility to cancel their insurance plan within 15 days of purchase (or more, depending on state and plan) if their travels have not begun. Plans from Allianz Partners on Marriott.com can be purchased upon booking or prior to departure and even include plans that accommodate reservations for a same day check-in. In addition to the seamless purchase experience available on Marriott.com and the iOS version of the Marriott Bonvoy mobile app, it will be available next year in the Android version of the app.

Marriott International Expects to Debut More than 30 Luxury Hotels Across the Globe in 2022

Marriott International Continues to Redefine the High-End Hospitality Landscape and Grow Luxury Footprint from New York City to Cairo to Sydney

From International Luxury Travel Market (ILTM) Cannes, Marriott International, Inc. today announced it expects to debut more than 30 luxury hotels in 2022, creating the rare and enriching experiences today's luxury traveler craves with its unmatched portfolio of dynamic luxury brands. Through the world-renowned hospitality hallmarks of The Ritz-Carlton, Ritz-Carlton Reserve, St. Regis, W, The Luxury Collection, EDITION, JW Marriott and Bulgari, Marriott International continues to elevate travel, creating highly contextualized, distinct brand experiences that signal the future of luxury. With an unrivaled network of more than 460 landmark luxury hotels and resorts in 68 countries and territories today, Marriott International is poised to expand its luxury footprint with nearly 190 properties in the development pipeline, including the 30 hotels expected to open in 2022, in iconic as well as emerging destinations from Mexico to Portugal and Australia to South Korea.

“Our guests are seeking deeper, more immersive experiences that allow them to indulge in global exploration while sparking personal regeneration," said Chris Gabaldon, Senior Vice President, Luxury Brands, Marriott International.

Luxury is Entering a New Era of Regeneration
A global luxury trends study conducted in collaboration with creative agency Team One revealed that today’s affluent travelers are shifting from a ‘box checking’ mindset to a ‘traveling well’ mindset, taking a more thoughtful, intentional approach to trip planning. Gabaldon observed, “As people reexamine and reprioritize what matters to them most, a shift that has accelerated over the past two years, we’re seeing a real embracing of deeper travel. Our guests are focusing more on where they travel and why they make the journey, seeking to foster a more meaningful connection to the destination as well as the people they meet.” With a truly global footprint, Marriott International is poised to meet this evolving set of aspirations, inviting people to view travel as a canvas for regeneration that leads to lasting positive impact on locals and destinations. “From the world’s most desirable destinations to undiscovered gems, we strive to go beyond offering moments of transformation for our guests and hope to create experiences that will inspire a newfound sense of personal wellbeing and joy,” said Gabaldon.

The Ritz-Carlton Continues to Define the Future of Luxury Hospitality
With a focus on destination-driven design and unparalleled service, The Ritz-Carlton continues to drive innovation and set the standard for luxury hospitality. In 2021 the brand was introduced in some of the world’s most coveted locales, including the Maldives, Turks & Caicos, and Mexico City. In 2022, the brand expects to expand in Arizona with The Ritz-Carlton Paradise Valley, The Palmeraie, as well as in New York City, debuting in the vibrant NoMad neighborhood, where guest rooms feature sweeping city views. The Ritz-Carlton, Melbourne is slated to grow the renowned brand’s footprint in Australia. Ritz-Carlton Reserve anticipates expanding its highly curated portfolio, debuting its sixth rare estate in the historic Chinese valley of Jiuzhaigou. In keeping with the brand’s forward-looking design aesthetic, The Ritz-Carlton Moscow, The Ritz-Carlton, Grand Cayman, and The Ritz-Carlton, Naples, are all expected to celebrate major renovations in the year ahead. Additionally, the brand expects to mark the inaugural voyage of The Ritz-Carlton Yacht Collection in May 2022.