The company said worldwide RevPAR rose 14.9% in 2023 compared with 2022, reflecting ADR growth of 5.8% and occupancy improvement of 5.5 percentage points. International segment RevPAR increased 32.6%, and U.S. & Canada RevPAR increased 8.9%.

1. 01

   The company said worldwide RevPAR rose 14.9% in 2023 compared with 2022, reflecting ADR growth of 5.8% and occupancy improvement of 5.5 percentage points. International segment RevPAR increased 32.6%, and U.S. & Canada RevPAR increased 8.9%.

2. 02

   The company said its system grew from 8,288 properties (1,525,407 rooms) at year-end 2022 to 8,785 properties (1,597,380 rooms) at year-end 2023, and it expects net rooms growth of 5.5 to 6.0% in 2024.

3. 03

   Marriott said net cash provided by operating activities rose $807 million in 2023 compared with 2022. It also repurchased 21.5 million shares for $3.9 billion in 2023, and it has repurchased 1.3 million shares for $300 million through February 9, 2024.

4. 04

   The company said its debt rose by $1,809 million in 2023 to $11,873 million at year-end 2023. It cited the issuance of its Series LL and MM Notes ($1,135 million), the issuance of its Series KK Notes ($783 million), and higher commercial paper borrowings ($546 million) as the main factors.

Key figures

Fiscal year ended December 31, 2023

Revenue

$23.7B

Operating income

$3.9B

Net income

$3.1B

EPS

$10.18

Operating cash flow

$3.2B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.