Marriott Posts Strong Gains in 2024 Earnings
While 2024 might not have been a record-breaking year in every respect, Marriott International reported a solid performance that underscores its resilient growth and strategic excellence. The hotel giant announced its fourth-quarter and full-year earnings, demonstrating improvements across almost every category and positioning itself for a promising future.
Marriott’s results highlighted the company’s dedication to delivering best-in-class guest experiences. “Marriott achieved excellent results in 2024, as we delivered best-in-class experiences that helped drive strong demand for our industry-leading portfolio of brands,” said Anthony Capuano, President and Chief Executive Officer. This focus on quality service has been a key driver behind the positive performance metrics reported over the past year.
A significant achievement for the year was the 4.3% rise in full-year global Revenue per Available Room (RevPAR). This growth came on the back of record gross room additions, with more than 123,000 new rooms added during 2024. As a result, net rooms grew by 6.8% to surpass 1.7 million globally by year-end. These numbers reflect Marriott’s ongoing investment in expanding its footprint and enhancing its capacity to meet growing travel demand worldwide.
In the fourth quarter, Marriott continued its upward trajectory. Global RevPAR increased by 5.0%, with the U.S. and Canada recording a 4.1% boost, and international markets experiencing a 7.2% rise. These figures are complemented by solid profitability metrics: fourth-quarter diluted earnings per share (EPS) reached $1.63, with adjusted diluted EPS climbing to $2.45. Additionally, net income for the quarter totaled $455 million, while adjusted net income hit $686 million. Fourth-quarter adjusted EBITDA was an impressive $1,286 million, showcasing the company’s strong operational performance even in a challenging environment.
Marriott’s robust expansion strategy is further evidenced by its worldwide development pipeline. By the end of 2024, the pipeline had grown to nearly 3,800 properties with over 577,000 rooms in the works. This aggressive yet sustainable growth strategy not only reinforces Marriott’s market leadership but also signals continued momentum in the global travel industry.
Beyond operational performance, Marriott demonstrated a strong commitment to its shareholders. The company returned more than $4.4 billion through dividends and share repurchases during 2024, reflecting its powerful cash-generating asset-light business model and focus on delivering value to investors.
Looking ahead, Marriott remains optimistic about the future. Capuano expressed strong confidence in the company’s ability to capitalize on the ongoing travel momentum. “With our unparalleled global rooms distribution and brand portfolio, a leading loyalty program with nearly 228 million Marriott Bonvoy members, and our dedicated associates, I believe Marriott is well-positioned to take advantage of the continued momentum in travel,” he stated. He added, “With our powerful, cash-generating asset-light business model, we look forward to delivering strong, valuable growth as we continue to connect people around the world through the power of travel.”
Although 2024 may not have been a banner year by some measures, Marriott International’s solid earnings, record room additions, and strategic investments have set a robust foundation for future growth. As the travel industry continues to evolve, Marriott’s commitment to excellence and its expansive global reach ensure that it remains a leader in the competitive hospitality landscape.
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