Press release
MARRIOTT INTERNATIONAL REPORTS SECOND QUARTER 2023 RESULTS AND RAISES FULL YEAR OUTLOOK
Second quarter 2023 comparable systemwide constant dollar RevPAR increased 13.5 percent worldwide, 6.0 percent in the U.S. & Canada, and 39.1 percent in
About this update from Marriott International
[{"type":"text","content":"Second quarter 2023 comparable systemwide constant dollar RevPAR increased 13.5 percent worldwide, 6.0 percent in the U.S. & Canada, and 39.1 percent in international markets, compared to the 2022 second quarter; Second quarter reported diluted EPS totaled $2.38, compared to reported diluted EPS of $2.06 in the year-ago quarter. Second quarter adjusted diluted EPS totaled $2.26, compared to second quarter 2022 adjusted diluted EPS of $1.80;Second quarter reported net income totaled $726 million, compared to reported net income of $678 million in the year-ago quarter. Second quarter adjusted net income totaled $690 million, compared to second quarter 2022 adjusted net income of $593 million;Adjusted EBITDA totaled $1,219 million in the 2023 second quarter, compared to second quarter 2022 adjusted EBITDA of $1,019 million;The company added approximately 33,100 rooms globally during the second quarter, including 17,300 rooms associated with the City Express transaction and roughly 11,200 other rooms in international markets. Marriott also added more than 2,800 conversion rooms;At the end of the quarter, Marriott's worldwide development pipeline totaled more than 3,100 properties and nearly 547,000 rooms, including roughly 31,500 of pipeline rooms approved, but not yet subject to signed contracts. More than 240,000 rooms in the pipeline, including approximately 37,000 rooms from the company's deal with MGM Resorts International, were under construction as of the end of the second quarter;Marriott repurchased 5.2 million shares of common stock for $903 million during the second quarter. Year to date through July 28, the company has returned $2.6 billion to shareholders through dividends and share repurchases. BETHESDA, Md., Aug. 1, 2023 /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR) today reported second quarter 2023 results.\n\n \n \n \n \n \n \n\n \nAnthony Capuano, President and Chief Executive Officer, said, \"With continued momentum in demand for global travel, we posted another quarter of outstanding results. Second quarter worldwide RevPAR1 increased 13.5 percent, aided by significant growth in all of our international regions, where RevPAR rose 39 percent. Greater China rebounded quickly once travel restrictions were lifted in January, with second quarter RevPAR surpassing pre-pandemic levels.\n\"In the U.S. & Can...