NASDAQ$MAR
Marriott International Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Marriott's Q1 2024 earnings were reported, featuring RevPAR growth and strategic expansions.
Marriott International reported its Q1 2024 results, which included a 4.2% increase in worldwide RevPAR and the addition of approximately 46,000 net rooms, including 37,000 rooms from its agreement with MGM Resorts International. The company's adjusted diluted EPS was $2.13, and it repurchased 4.8 million shares for $1.2 billion during the quarter. Marriott is raising its full year earnings guidance and expects to return between $4.2 billion to $4.4 billion to shareholders in 2024.
- Worldwide RevPAR increased by 4.2%, with international markets showing particularly strong growth at 11.1%.
- Adjusted diluted EPS reached $2.13, compared to $2.09 in the first quarter of 2023.
- Approximately 46,000 net rooms were added, including roughly 37,000 rooms from the MGM Resorts International agreement.
- The company expects to return between $4.2 billion to $4.4 billion to shareholders in 2024.
Headline financials
Revenue & EPS history
Marriott · Revenue · Quarterly
$5.98B
Revenue by segment
Marriott · $1.27B total across 3 segments · Q3 2023
- Franchise and Base Management Fees$1.05B+10.6%83.2%
- Incentive Management Fees$143M+34.9%11.3%
- Owned, Leased, and Other Revenue, Net$70M+59.1%5.5%
Forward guidance
Marriott provided guidance for the second quarter and full year of 2024, including expectations for RevPAR growth and adjusted EPS.
Tailwinds
- Comparable systemwide constant dollar RevPAR growth of 4% to 5% worldwide for the second quarter and 3% to 5% for the full year.
- Gross fee revenues are expected to be between $1,340 million and $1,355 million for the second quarter, and between $5,180 million and $5,280 million for the full year.
- Adjusted EBITDA is projected to be between $1,295 million and $1,315 million for the second quarter, and between $4,960 million and $5,090 million for the full year.
- Adjusted EPS – diluted is expected to be between $2.43 and $2.48 for the second quarter, and between $9.31 and $9.65 for the full year.
- Net rooms growth is projected at 5.5% to 6% for the year.
Headwinds
- General, administrative, and other expenses are expected to be between $258 million and $253 million for the second quarter, and between $1,040 million and $1,020 million for the full year.
- Investment spending is projected to be between $1,000 million and $1,200 million for the full year.
- Guidance excludes cost reimbursement revenue, reimbursed expenses, merger-related charges and other expenses, or any asset sales that may occur during the year.
- Assumes the level of capital return to shareholders noted above.
- Assumes the level of investment spending noted above and that no asset sales occur during the year.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.1%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+1.8%
Avg return
30 days after
52%
36 / 69 earnings
Positive
+17.2%
Q3 2020
Best reaction
-9.0%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.2% | -1.8% | +10.9% | |
| Q4 2025 | +8.5% | +6.8% | -4.5% | |
| Q3 2025 | +3.1% | +10.3% | +12.2% | |
| Q2 2025 | +0.2% | +0.3% | +3.8% | |
| Q1 2025 | +2.0% | +4.3% | +5.1% | |
| Q4 2024 | -5.4% | -6.9% | -22.1% | |
| Q3 2024 | -0.3% | +7.8% | +11.2% | |
| Q2 2024 | -8.4% | -11.5% | -1.7% | |
| Q1 2024 | -0.2% | +0.3% | -2.1% | |
| Q4 2023 | -5.4% | -2.9% | -0.3% | |
| Q3 2023 | +1.3% | +3.0% | +10.8% | |
| Q2 2023 | +0.8% | +0.6% | +0.8% | |
| Q1 2023 | +4.9% | +3.8% | +0.6% | |
| Q4 2022 | +3.6% | -1.1% | -7.6% | |
| Q3 2022 | -2.6% | -1.6% | +8.3% | |
| Q2 2022 | -0.1% | -1.6% | -3.5% | |
| Q1 2022 | +2.7% | -5.3% | +0.9% | |
| Q4 2021 | +7.0% | +2.1% | -0.1% | |
| Q3 2021 | +2.5% | +5.2% | -6.3% | |
| Q2 2021 | -4.8% | -2.3% | -6.5% | |
| Q1 2021 | -3.4% | -2.3% | -2.0% | |
| Q4 2020 | +3.8% | +13.9% | +15.9% | |
| Q3 2020 | +17.2% | +15.3% | +34.4% | |
| Q2 2020 | +3.4% | +2.4% | +8.8% | |
| Q1 2020 | -9.0% | -8.5% | +17.7% | |
| Q4 2019 | -3.6% | -0.9% | -36.5% | |
| Q3 2019 | +4.4% | +4.0% | +8.7% | |
| Q2 2019 | -5.5% | -2.6% | -7.6% | |
| Q1 2019 | -7.0% | -2.7% | -2.2% | |
| Q4 2018 | -2.0% | -1.3% | -1.4% | |
| Q3 2018 | -5.3% | -3.2% | -6.1% | |
| Q2 2018 | -2.9% | -6.3% | -2.5% | |
| Q1 2018 | +0.9% | +2.3% | +2.0% | |
| Q4 2017 | +0.5% | -1.5% | +0.3% | |
| Q3 2017 | -1.6% | -1.5% | +4.8% | |
| Q2 2017 | -1.0% | -5.4% | -3.1% | |
| Q1 2017 | +5.6% | +5.6% | +8.3% | |
| Q4 2016 | +1.8% | +1.7% | +0.5% | |
| Q3 2016 | +4.9% | +5.4% | +20.6% | |
| Q2 2016 | -0.2% | -0.7% | +1.6% | |
| Q1 2016 | +3.3% | — | — | |
| Q4 2015 | -0.2% | — | — | |
| Q3 2015 | -1.3% | — | — | |
| Q2 2015 | -2.6% | — | — | |
| Q1 2015 | -1.6% | — | — | |
| Q4 2014 | +2.2% | — | — | |
| Q3 2014 | +5.4% | — | — | |
| Q2 2014 | -1.1% | — | — | |
| Q1 2014 | +3.5% | — | — | |
| Q4 2013 | +0.8% | — | — | |
| Q3 2013 | +1.1% | — | — | |
| Q2 2013 | +0.5% | — | — | |
| Q1 2013 | -0.5% | — | — | |
| Q4 2012 | -3.7% | — | — | |
| Q3 2012 | +0.8% | — | — | |
| Q2 2012 | -6.8% | — | — | |
| Q1 2012 | -1.8% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q3 2011 | +2.9% | — | — | |
| Q2 2011 | -1.3% | — | — | |
| Q1 2011 | -5.1% | — | — | |
| Q4 2010 | -4.7% | — | — | |
| Q3 2010 | +0.0% | — | — | |
| Q2 2010 | -2.3% | — | — | |
| Q4 2007 | +1.7% | — | — | |
| Q1 2010 | +1.4% | — | — | |
| Q3 2009 | +1.7% | — | — | |
| Q2 2009 | +0.1% | — | — | |
| Q4 2009 | +0.1% | — | — |
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