earnings
confidence high
sentiment positive
materiality 0.75
Marriott Q3 RevPAR down 26% vs 2019 but strong recovery; adjusted EPS $0.99
MARRIOTT INTERNATIONAL INC /MD/
2021-Q3 EPS reported
$1.92
revenue$9,411,000,000
- Comparable systemwide RevPAR +118.4% YoY, still down 25.8% vs Q3 2019; U.S. & Canada down 19.9% vs 2019.
- Reported diluted EPS $0.67 (vs $0.31); adjusted diluted EPS $0.99 (vs $0.13); adjusted EBITDA $683M (vs $327M).
- Issued $700M 2.75% Series II Notes due 2033; retired $1.0B of 5.75% Series EE Notes via cash tender.
- Added 17,456 rooms in Q3; development pipeline ends at 2,769 properties / ~477,000 rooms.
- Now expects 2021 full-year net rooms growth of ~3.5%; investment spending $525-550M.