Business
Marriott International Reports Third Quarter 2021 Results
BETHESDA, Md., Nov. 3, 2021 /PRNewswire/ -- Third quarter 2021 comparable systemwide constant dollar RevPAR increased 118.4 percent worldwide, 134.7 percent
About this update from Marriott International
[{"type":"text","content":"BETHESDA, Md., Nov. 3, 2021 /PRNewswire/ --\nThird quarter 2021 comparable systemwide constant dollar RevPAR increased 118.4 percent worldwide, 134.7 percent in the U.S. & Canada, and 76.3 percent in international markets, compared to the 2020 third quarter; Third quarter 2021 comparable systemwide constant dollar RevPAR declined 25.8 percent worldwide, 19.9 percent in the U.S. & Canada, and 40.7 percent in international markets, compared to the 2019 third quarter; Third quarter reported diluted EPS totaled $0.67, compared to reported diluted EPS of $0.31 in the year-ago quarter. Third quarter adjusted diluted EPS totaled $0.99, compared to third quarter 2020 adjusted diluted EPS of $0.13; Third quarter reported net income totaled $220 million, compared to reported net income of $100 million in the year-ago quarter. Third quarter adjusted net income totaled $327 million, compared to third quarter 2020 adjusted net income of $44 million;Adjusted EBITDA totaled $683 million in the 2021 third quarter, compared to third quarter 2020 adjusted EBITDA of $327 million; The company added roughly 17,500 rooms globally during the third quarter, including approximately 8,500 rooms in international markets and a total of more than 2,200 conversion rooms; At quarter end, Marriott's worldwide development pipeline totaled 2,769 properties and nearly 477,000 rooms, including roughly 25,000 rooms approved, but not yet subject to signed contracts. More than 206,000 rooms in the pipeline were under construction as of the end of the 2021 third quarter.Marriott International, Inc. (NASDAQ: MAR) today reported third quarter 2021 results.\nAnthony Capuano, Chief Executive Officer, said, \"We were pleased to see continued meaningful improvement in global trends in the third quarter, despite the impact of the Delta variant during the second half of the quarter. For the quarter, worldwide RevPAR1 was down 26 percent compared to the 2019 third quarter, a significant improvement from the second quarter RevPAR decline of 44 percent compared to the same quarter in 2019. Third quarter occupancy topped 58 percent, driven largely by continued strength in leisure demand. Average daily rate, which was only 4 percent below 2019 levels for the quarter, has been recovering much more quickly than in the past two downturns. \n\"Most of our regions saw considerable impr...