AI English summary of an SEC filing — figures as filed
Marriott International MARThe company said worldwide RevPAR rose 4.2% in Q1 2024 compared with Q1 2023, reflecting ADR growth of 2.8% and occupancy improvement of 0.9 percentage points. RevPAR increased 1.5% in U.S. & Canada, 10.1% in EMEA and 16.5% in APEC.
Key points
AI summaryThe company said worldwide RevPAR rose 4.2% in Q1 2024 compared with Q1 2023, reflecting ADR growth of 2.8% and occupancy improvement of 0.9 percentage points. RevPAR increased 1.5% in U.S. & Canada, 10.1% in EMEA and 16.5% in APEC.
Marriott International said its system had 8,861 properties (1,643,172 rooms) at the end of Q1 2024. It said it added a net increase of about 46,000 rooms in Q1, including about 37,000 rooms from its MGM Resorts International licensing agreement. Its development pipeline totaled over 3,400 hotels and about 547,000 rooms.
The company said cash, cash equivalents and restricted cash totaled $448 million as of March 31, 2024, an increase of $82 million from year-end. It cited Senior Notes issuances of $1,468 million and higher net cash provided by operating activities of $779 million, partially offset by share repurchases of $1,144 million.
The company said it repurchased 4.8 million shares of common stock for $1.2 billion in Q1 2024, and 6.2 million shares for $1.5 billion year to date through April 26. On February 8, its Board of Directors declared a quarterly cash dividend of $0.52 per share.
Key figures
Quarter ended March 31, 2024
- Revenue
- $6.0B
- Operating income
- $876M
- Net income
- $564M
- EPS
- $1.93
- Operating cash flow
- $779M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis 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.
Worldwide RevPAR Up 4.2% in Q1 2024
The company said worldwide RevPAR rose 4.2% in Q1 2024 compared with Q1 2023, reflecting ADR growth of 2.8% and occupancy improvement of 0.9 percentage points. RevPAR increased 1.5% in U.S. & Canada, 10.1% in EMEA and 16.5% in APEC.
Source · Based on the MD&A text of the filing
System Size and Development Pipeline in Q1 2024
Marriott International said its system had 8,861 properties (1,643,172 rooms) at the end of Q1 2024. It said it added a net increase of about 46,000 rooms in Q1, including about 37,000 rooms from its MGM Resorts International licensing agreement. Its development pipeline totaled over 3,400 hotels and about 547,000 rooms.
Source · Based on the MD&A text of the filing
Cash Change and Key Items in Q1 2024
The company said cash, cash equivalents and restricted cash totaled $448 million as of March 31, 2024, an increase of $82 million from year-end. It cited Senior Notes issuances of $1,468 million and higher net cash provided by operating activities of $779 million, partially offset by share repurchases of $1,144 million.
Source · Based on the MD&A text of the filing
Share Repurchases and Quarterly Dividend
The company said it repurchased 4.8 million shares of common stock for $1.2 billion in Q1 2024, and 6.2 million shares for $1.5 billion year to date through April 26. On February 8, its Board of Directors declared a quarterly cash dividend of $0.52 per share.
Source · Based on the MD&A text of the filing
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.
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