Marriott International, Inc. (NASDAQ: MAR) on Tuesday announced financial results for the fourth quarter of 2024, reporting a decrease in adjusted earnings despite a modest increase in revenue.
- Total revenue increased 5% year-over-year to $6.43 billion in the fourth quarter, reflecting growth across all operating segments
- In the fourth quarter, worldwide Revenue Per Available Room rose 5%, driven by gains in both ADR and occupancy
- On a reported basis, Q4 earnings decreased to $1.63 per share from $2.87 per share in the prior-year quarter
- Net income totaled $455 million in Q4, compared to $848 million a year earlier
- Adjusted earnings dropped to $2.45 per share from $3.57 per share
- Operating income increased to $752 million in the December quarter from $718 million in the prior-year period
- Adjusted EBITDA was $1.29 billion in the fourth quarter, which is up 7% from $1.20 billion reported in Q4 2023
- For the first quarter, the management expects worldwide comparable systemwide constant RevPAR growth to be 3-4%
- In the full fiscal year, worldwide comparable systemwide constant RevPAR growth is expected to be 2-4%