Marriott: Strong 2023 With Record Luxury Hotels Deals

13.02.2024 - 19:23 / skift.com / Anthony Capuano / Sean Oneill / Marriott International

Marriott reported financial results on Tuesday that underscored how the hotel giant has continued to benefit from resilient travel demand despite economic uncertainty in many regions.

The hotel operator generated an effective 48% profit margin last year. It produced $3.08 billion in net income on $6.3 billion in revenue (after subtracting money Marriott collected and returned to hotel owners and managers).

In 2023, Marriott saw a few key industry figures rise, with performances that bested most of its peers.

The hotel operator forecasted that the coming year would also show a strong performance.

“We expect another year of strong global [hotel development] signings in 2024,” said said Anthony Capuano, president and CEO. “We remain confident in the 3-year net rooms compound annual growth rate we discussed at our investor meeting in September of 5% to 5.5% from year-end 2022 to year-end 2025.”

The company said it had seen particular strength in luxury hotels. Its portfolio of luxury hotels is “50% larger” than its next closest competitor, it said. It had record luxury signings last year, with 58 new deals.

What am I looking at? The performance of hotels and short-term rental sector stocks within the ST200. The index includes companies publicly traded across global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares.

The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more hotels and short-term rental financial sector performance.

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