Marriott's Q4 2024 earnings call highlighted strong net rooms growth, robust international RevPAR, and increased engagement in its loyalty program. However, challenges persist in Greater China, with a decline in incentive management fees and expected residential branding fees. The overall sentiment is positive, with strong financial performance and development momentum outweighing the lowlights.

Company Guidance

During the call, Marriott International provided guidance for 2025, highlighting expectations for net rooms growth of 4% to 5% and global RevPAR growth of 2% to 4%. The company anticipates gross fees to rise by 4% to 6%, reaching approximately $5.4 billion to $5.5 billion, with co-brand credit card fee growth slightly lower than the previous year. Adjusted EBITDA is projected to increase between 6% and 9%, totaling roughly $5.3 billion to $5.4 billion. The company also outlined a significant investment plan, expecting $1 billion to $1.1 billion in spending, with a focus on technology, owned leased portfolio renovations, and contract investments for new units. Despite some challenges, such as anticipated flat RevPAR growth in Greater China and a higher effective tax rate, Marriott remains optimistic about its growth trajectory and plans to return approximately $4 billion to shareholders in 2025.

Strong Net Rooms Growth

Marriott achieved net rooms growth of 6.8% for the full year 2024, with a global RevPAR increase of over 4%.

International RevPAR Growth

International RevPAR rose over 7% in Q4 2024, driven by a 4% rise in ADR and a 2 percentage point gain in occupancy, with notable growth in APAC, EMEA, and strong cross-border demand.

Robust Pipeline and Development

Marriott ended 2024 with over 577,000 rooms in its pipeline, signing a record of over 1,200 deals, and expanding its luxury portfolio with several notable hotel openings.

Increased Loyalty Program Engagement

Marriott Bonvoy added over 31 million new members in 2024, growing to nearly 228 million members, with a 30% increase in app downloads.

Strong Financial Performance

Fourth quarter total gross fee revenues grew 7% to $1.3 billion, and adjusted EBITDA grew 7% to $1.29 billion, driven by higher RevPAR and room additions.

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Marriott International (MAR) Earnings, Revenues Date & History

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MAR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 30, 2025	2025 (Q1)	2.27 / -	2.13	―	―	―
Feb 11, 2025	2024 (Q4)	2.39 / 2.45	3.57	-31.37% (-1.12)	―
Nov 04, 2024	2024 (Q3)	2.31 / 2.26	2.11	7.11% (+0.15)	―
Jul 31, 2024	2024 (Q2)	2.47 / 2.50	2.26	10.62% (+0.24)	―
May 01, 2024	2024 (Q1)	2.16 / 2.13	2.09	1.91% (+0.04)	―
Feb 13, 2024	2023 (Q4)	2.12 / 3.57	1.96	82.14% (+1.61)	―
Nov 02, 2023	2023 (Q3)	2.10 / 2.11	1.69	24.85% (+0.42)	―
Aug 01, 2023	2023 (Q2)	2.17 / 2.26	1.8	25.56% (+0.46)	―
May 02, 2023	2023 (Q1)	1.85 / 2.09	1.25	67.20% (+0.84)	―
Feb 14, 2023	2022 (Q4)	1.83 / 1.96	1.3	50.77% (+0.66)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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MAR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 11, 2025	$304.45	$288.00	-5.40%
Nov 04, 2024	$259.98	$255.85	-1.59%
Jul 31, 2024	$237.56	$226.14	-4.81%
May 01, 2024	$234.30	$232.05	-0.96%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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