Marriott International reports first quarter results (United States)
• First quarter diluted EPS totaled $0.57, a 33 percent increase over prior year results; |
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Marriott International reports first quarter results (United States)
• First quarter diluted EPS totaled $0.57, a 33 percent increase over prior year results; |
Category: North America & West Indies / Carribean islands - United States - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2014-05-02
• North American comparable systemwide RevPAR rose 6.3 percent in the first quarter with average daily rates up 3.3 percent;
• On a constant dollar basis, worldwide comparable systemwide RevPAR rose 6.2 percent in the first quarter, including a 3.2 percent increase in average daily rate;
• Marriott repurchased 7.0 million shares of the company’s common stock for $356 million during the first quarter. Year-to-date, the company repurchased 9.0 million shares for $467 million;
• Comparable company-operated house profit margins increased 160 basis points in North America and 130 basis points worldwide in the first quarter;
• Adjusted for cost reimbursements, the company’s operating income margin increased to 41 percent compared to 38 percent in the year-ago quarter;
• At the end of the first quarter, the company’s worldwide development pipeline increased to over 200,000 rooms, including nearly 30,000 rooms approved, but not yet subject to signed contracts. The pipeline does not include the more than 10,000 rooms associated with the Protea transaction, which was completed on April 1st;
• Nearly 6,000 rooms were added during the first quarter, including over 1,000 rooms converted from competitor brands and 3,300 rooms in international markets;
• Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $339 million in the quarter, a 12 percent increase over first quarter 2013 adjusted EBITDA.
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