Categories Earnings, Other Industries

Marriott International (NASDAQ: MAR): Q3 2019 Earnings Snapshot

— Marriott International (NASDAQ: MAR) reported adjusted earnings of $1.47 per share for the third quarter of 2019, vs. $1.49 per share expected.

Marriott International (NASDAQ: MAR): Q3 2019 Earnings Snapshot

— On a reported basis, the hotel operator posted net income of $387 million or $1.16 per share, compared to $503 million or $1.43 per share last year

— Comparable systemwide constant dollar RevPAR rose 1.5% worldwide, 1.9% outside North America and 1.3% in North America

— Added more than 17,700 rooms during the quarter, including 3,100 rooms converted¬†from competitor brands and 6,700 rooms in international markets

— At the end of the quarter, the development pipeline totaled 2,950 hotels and around 495,00 rooms

—¬†Repurchased 3.8 million shares of common stock for $500 million during the quarter

— Expects comparable systemwide RevPAR, on a constant dollar basis, to be roughly up 1% in Q4

— Expects comparable systemwide RevPAR, on a constant dollar basis, to be about up 1% worldwide in fiscal 2019

— Anticipates global net room additions to be between 5% and 5.25% in 2019

— Expects FY19 adjusted earnings per share to be in the range of $5.87 to $5.90, down 5% from last year

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