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Marriott International’s<\/strong> reported net income was $757 million<\/strong>, up from $377 million in the previous quarter<\/a>. Adjusted net income was $648 million<\/strong>, up from $413 million last year.<\/p>\n <\/p>\n Marriott saw its global RevPAR<\/strong> increase 34.3 percent<\/strong>. Regionally, RevPAR was up 25.6%<\/strong> in the U.S. and Canada and 63.1%<\/strong> in international markets. EBITDA, meanwhile, rose to $1,098 million<\/strong> from $759 million in Q1 2022.<\/p>\n <\/p>\n Marriott’s reported operating income was $951 million<\/strong>, up from $558 million in the same period in 2022, and its reported net income was $757 million<\/strong>, up from $377 million. Finally, reported diluted earnings per share (EPS) posted $2.43<\/strong>, up from $1.14 in the previous quarter.<\/p>\n <\/p>\n Marriott added 79 properties<\/strong> (11,015 rooms) to its global lodging portfolio in the first quarter, and 14 properties<\/strong> (2,351 rooms) exited. As a result, it now has 8,400 properties<\/strong> (more than 1,534,000 rooms) worldwide. The hotel group also bought back 6.8 million shares<\/strong> of its common stock for $1.1 billion<\/strong>. Year-to-date through April 28, the company has returned $1.5 billion<\/strong> to its shareholders.<\/p>\n <\/p>\n As a result of these results, Marriott announced it is raising its full-year 2023 guidance.<\/strong><\/p>\n <\/p>\n “With the faster-than-expected recovery in international markets and continued strong global booking trends so far in the second quarter, we are raising our full-year RevPAR guidance”<\/em>, said Anthony Capuano<\/strong>, president and CEO of Marriott International. “We believe our broad portfolio of brands, award-winning Marriott Bonvoy loyalty program, dedicated associates and efficient, asset-light business model position us very well for future growth.”<\/em><\/p>\n <\/p>\n <\/p>\n Hyatt Hotels Corporation’<\/strong><\/a>s net income was $58 million<\/strong>. This contrasts with a net loss of $73 million<\/strong> during the same period in 2022.<\/p>\n <\/p>\n Still, Hyatt recorded a 42.9%<\/strong> increase in RevPAR, driven by average price growth, up 12% in constant currency. The company’s adjusted EBITDA increased 58.6%<\/strong> to $268 million.<\/p>\n <\/p>\n This put the company’s diluted EPS at $0.53<\/strong>, up from $0.67 in 2022. At the same time, its adjusted diluted EPS was $0.41<\/strong>, up from $0.33. In terms of transactions, the acquisition of Dream Hotel Group<\/strong><\/a> was completed on February 2, 2023 for $125 million<\/strong>. In addition, Hyatt has two assets currently up for sale and intends to successfully execute plans to realize $2 billion<\/strong> in gross proceeds from real estate sales by the end of 2024<\/strong>.<\/p>\n <\/p>\n 28 new hotels<\/strong> (5,128 rooms) joined Hyatt, including the 12 hotels (1,893 rooms) from the Dream Hotel Group acquisition. As of March 31, 2023, Hyatt Hotels Corporation had total debt of $3,102 million<\/strong>. The company has repurchased a total of 1,018,931 shares<\/strong> of Class A common stock for approximately $106 million.<\/strong><\/p>\n <\/p>\n In the face of such results, Hyatt, too, has raised its full-year 2023 guidance.<\/p>\n <\/p>\n “For the fourth consecutive quarter, we delivered record results that exceeded our expectations, demonstrating our unique positioning and differentiated model”<\/em>, says Mark S. Hoplamazian<\/strong>, Hyatt’s president and CEO.“We have raised our full-year RevPAR guidance, while maintaining our record pipeline and industry-leading net room growth.”<\/em><\/p>\n <\/p>\n <\/p>\n Read also >Hotel industry: Baccarat Hotel Dubai to open in 2026<\/a><\/p>\n <\/p>\n Featured photo : \u00a9Press[\/vc_column_text][\/vc_column][\/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]<\/p>\n <\/p>\n Marriott International’s<\/strong> reported net income was $757 million<\/strong>, up from $377 million in the previous quarter<\/a>. Adjusted net income was $648 million<\/strong>, up from $413 million last year.<\/p>\n <\/p>\n Marriott saw its global RevPAR<\/strong> increase 34.3 percent<\/strong>. Regionally, RevPAR was up 25.6%<\/strong> in the U.S. and Canada and 63.1%<\/strong> in international markets. EBITDA, meanwhile, rose to $1,098 million<\/strong> from $759 million in Q1 2022.<\/p>\n <\/p>\n Marriott’s reported operating income was $951 million<\/strong>, up from $558 million in the same period in 2022, and its reported net income was $757 million<\/strong>, up from $377 million. Finally, reported diluted earnings per share (EPS) posted $2.43<\/strong>, up from $1.14 in the previous quarter.<\/p>\n <\/p>\n Marriott added 79 properties<\/strong> (11,015 rooms) to its global lodging portfolio in the first quarter, and 14 properties<\/strong> (2,351 rooms) exited. As a result, it now has 8,400 properties<\/strong> (more than 1,534,000 rooms) worldwide. The hotel group also bought back 6.8 million shares<\/strong> of its common stock for $1.1 billion<\/strong>. Year-to-date through April 28, the company has returned $1.5 billion<\/strong> to its shareholders.<\/p>\n <\/p>\n As a result of these results, Marriott announced it is raising its full-year 2023 guidance.<\/strong><\/p>\n <\/p>\n “With the faster-than-expected recovery in international markets and continued strong global booking trends so far in the second quarter, we are raising our full-year RevPAR guidance”<\/em>, said Anthony Capuano<\/strong>, president and CEO of Marriott International. “We believe our broad portfolio of brands, award-winning Marriott Bonvoy loyalty program, dedicated associates and efficient, asset-light business model position us very well for future growth.”<\/em><\/p>\n <\/p>\n <\/p>\n […][\/vc_column_text][vc_cta h2=”This article is reserved for subscribers.” h2_font_container=”tag:h2|font_size:16|text_align:left” h2_use_theme_fonts=”yes” h4=”Subscribe now !” h4_font_container=”tag:h2|font_size:32|text_align:left|line_height:bas” h4_use_theme_fonts=”yes” txt_align=”center” color=”black” add_button=”right” btn_title=”I SUBSCRIBE !” btn_color=”danger” btn_size=”lg” btn_align=”center” use_custom_fonts_h2=”true” use_custom_fonts_h4=”true” btn_button_block=”true” btn_custom_onclick=”true” btn_link=”url:https%3A%2F%2Fluxus-plus.com%2Fen%2Fsubscriptions-and-newsletter-special-offer-valid-until-september-30-2020-2-2%2F”]Get unlimited access to all articles and live a new reading experience, preview contents, exclusive newsletters…<\/p>\n Already have an account ? Please log in<\/b><\/a>.<\/strong><\/p>\n [\/vc_cta][vc_column_text]Featured photo : \u00a9 Press[\/vc_column_text][\/vc_column][\/vc_row][vc_row njt-role=”people-in-the-roles” njt-role-user-roles=”subscriber,customer”][vc_column][vc_column_text]<\/p>\n <\/p>\nHyatt in good shape<\/h2>\n
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Marriott International and Hyatt Hotels Corporation have released their first quarter results. Due to better-than-expected performance, both hotel companies have decided to raise their guidance for the full year 2023.<\/h4>\n
Hyatt in good shape<\/h2>\n
Marriott International and Hyatt Hotels Corporation have released their first quarter results. Due to better-than-expected performance, both hotel companies have decided to raise their guidance for the full year 2023.<\/h4>\n