Tyler Vigen, CC BY 4.0; Bloomington, 2021 archive crop.
Marriott International reported a 6.5% rise in worldwide revenue for each available hotel room in the third quarter and raised its full-year outlook on Monday, November 2. The company said in its third-quarter results release that the measure, known as RevPAR, increased 7.4% in the U.S. and Canada as both room rates and occupancy rose.
Marriott now expects worldwide RevPAR growth of 4.5% to 5% for full-year 2026. The company said its outlook assumes the current economic environment continues. Its RevPAR growth figures are stated in constant dollars, which remove the effect of exchange-rate changes.
Reported diluted earnings per share rose to $3.04 from $2.67 a year earlier. Reported net income increased to $794 million from $728 million.
Adjusted diluted earnings per share, a non-GAAP measure, rose to $3.02 from $2.47. Adjusted net income was $790 million, compared with $674 million. These adjusted figures are separate from the company’s reported results under generally accepted accounting principles.
The company added about 20,100 net rooms during the quarter. Its development pipeline reached a record of more than 634,000 rooms across 4,209 properties at quarter-end. That pipeline includes rooms approved for development but not yet covered by signed contracts, as well as hotels under construction or being converted to Marriott brands.
Marriott will discuss the results on an earnings call at 8 a.m. Eastern time on Monday.
JBizNews Desk | New York
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