Business
MARRIOTT INTERNATIONAL REPORTS FIRST QUARTER 2022 RESULTS AND REINSTATES QUARTERLY CASH DIVIDEND
First quarter 2022 comparable systemwide constant dollar RevPAR increased 96.5 percent worldwide, 99.1 percent in the U.S. & Canada, and 88.5 percent in
About this update from Marriott International
[{"type":"text","content":"First quarter 2022 comparable systemwide constant dollar RevPAR increased 96.5 percent worldwide, 99.1 percent in the U.S. & Canada, and 88.5 percent in international markets, compared to the 2021 first quarter; First quarter 2022 comparable systemwide constant dollar RevPAR declined 19.4 percent worldwide, 14.5 percent in the U.S. & Canada, and 31.7 percent in international markets, compared to the 2019 first quarter; First quarter reported diluted EPS totaled $1.14, compared to reported diluted loss per share of $0.03 in the year-ago quarter. First quarter adjusted diluted EPS totaled $1.25, compared to first quarter 2021 adjusted diluted EPS of $0.10;First quarter reported net income totaled $377 million, compared to a reported net loss of $11 million in the year-ago quarter. First quarter adjusted net income totaled $413 million, compared to first quarter 2021 adjusted net income of $34 million;Adjusted EBITDA totaled $759 million in the 2022 first quarter, compared to first quarter 2021 adjusted EBITDA of $296 million;Marriott resumes cash dividends, with the Board of Directors declaring a $0.30 per share dividend payable on June 30, 2022, to shareholders of record as of May 16, 2022;The company added roughly 11,800 rooms globally during the first quarter, including approximately 5,300 rooms in international markets and a total of more than 2,500 conversion rooms;At quarter end, Marriott's worldwide development pipeline totaled nearly 2,900 properties and more than 489,000 rooms, including roughly 20,800 rooms approved, but not yet subject to signed contracts. Approximately 201,400 rooms in the pipeline were under construction as of the end of the 2022 first quarter.BETHESDA, Md., May 4, 2022 /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR) today reported first quarter 2022 results.\n\n \n \n \n \n \n \n\n \nAnthony Capuano, Chief Executive Officer, said, \"During the first quarter, we saw the largest surge in global demand since the pandemic began in 2020. Worldwide occupancy1 rose dramatically from 45 percent in January, impacted by the Omicron variant, to 64 percent in March, less than 10 percentage points below pre-pandemic levels. Rates further strengthened, with worldwide Average Daily Rate for March exceeding the same month in 2019 by 5 percent. \n\"In the U.S. & Canada, RevPAR improved significantly in Feb...