Fourth quarter 2024 RevPAR1 increased 5.0 percent worldwide, with 4.1 percent growth in the U.S. & Canada and 7.2 percent growth in international markets
Fourth quarter reported diluted EPS totaled $1.63 and adjusted diluted EPS totaled $2.45
Fourth quarter reported net income totaled $455 million and adjusted net income totaled $686 million
Fourth quarter adjusted EBITDA totaled $1,286 million
With record gross room additions of over 123,000 in 2024, net rooms grew 6.8 percent from year-end 2023
At the end of the year, Marriott’s worldwide development pipeline totaled nearly 3,800 properties and over 577,000 rooms
The company returned over $4.4 billion to shareholders through dividends and share repurchases in 2024
View a summary of fourth quarter and full year 2024 highlights.
Marriott achieved excellent results in 2024, as we delivered best-in-class experiences that helped drive strong demand for our industry-leading portfolio of brands. Full year global RevPAR rose 4.3 percent and, with record gross room additions of over 123,000, net rooms grew 6.8 percent to over 1.7 million rooms worldwide at year-end.
In the fourth quarter, worldwide RevPAR rose 5 percent, driven by gains in both ADR and occupancy. International RevPAR increased by more than 7 percent, with APEC and EMEA leading the way and benefiting from strong leisure demand. RevPAR in the U.S. & Canada rose more than 4 percent, the region’s highest RevPAR increase of the year, with all customer segments growing versus the prior-year quarter.
2024 was a terrific year for our development team. The company signed a record number of new deals, and our industry-leading development pipeline reached over 577,000 rooms at the end of the year. For the full year, conversions represented more than one-third of our rooms signings and over half of our room additions.
We continued to enhance our portfolio to deliver new travel experiences to our guests around the world. We advanced our presence in the midscale segment with the opening of 28 Four Points Flex hotels across EMEA and APEC and the debut of the City Express by Marriott brand in the U.S. & Canada. We also strengthened our non-traditional offerings with founding deals in the outdoor lodging segment with key players Postcard Cabins and Trailborn.
Looking ahead, I am incredibly optimistic about Marriott’s future. With our unparalleled global rooms distribution and brand portfolio, leading loyalty program with nearly 228 million Marriott Bonvoy members and our dedicated associates, I believe Marriott is well-positioned to take advantage of the continued momentum in travel. With our powerful, cash-generating asset-light business model, we look forward to delivering strong, valuable growth as we continue to connect people around the world through the power of travel. Anthony Capuano, President and Chief Executive Officer
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1. All occupancy, Average Daily Rate (ADR) and Revenue Per Available Room (RevPAR) statistics and estimates are systemwide constant dollar. Unless otherwise stated, all changes refer to year-over-year changes for the comparable period. Occupancy, ADR and RevPAR comparisons between 2024 and 2023 reflect properties that are comparable in both years.
About Marriott International
Marriott International, Inc. (Nasdaq: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 9,100 properties across more than 30 leading brands in 142 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program. For more information, please visit our website at www.marriott.com. In addition, connect with us on Facebook and @MarriottIntl on X and Instagram.
About Marriott Bonvoy
Marriott Bonvoy, Marriott International’s award-winning travel programme and marketplace, gives members access to transformative, eye-opening experiences around the corner and across the globe. Marriott Bonvoy’s portfolio of 31 extraordinary brands offers renowned hospitality in the most memorable destinations in the world. Members can earn points for stays at hotels and resorts, including all-inclusive resorts and premium home rentals, as well as through everyday purchases with co-branded credit cards. Members can redeem their points for experiences including future stays, Marriott Bonvoy Moments™, or through partners for luxurious products from Marriott Bonvoy Boutiques®. With the Marriott Bonvoy app, members enjoy a level of personalisation and contactless experience that allows them to travel with peace of mind. To enrol for free or for more information about Marriott Bonvoy, visit marriottbonvoy.com. To download the Marriott app, go here. Travelers can also connect with Marriott Bonvoy on Facebook, X, Instagram and TikTok.
Melissa FloodMarriott
