Luxury Hospitality Daily News

< Previous news Next news >

Marriott International Reports First Quarter 2016 Results (United States)

HIGHLIGHTS

Marriott International Reports First Quarter 2016 Results (United States)

HIGHLIGHTS

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 2016-04-29


  • First quarter adjusted diluted EPS totaled $0.87, a 19 percent increase over prior year results; 
  • North American comparable systemwide constant dollar RevPAR rose 2.4percent in the first quarter; 
  • On a constant dollar basis, worldwide comparable systemwide RevPAR rose 2.6 percent in the first quarter; 
  • The company’s adjusted operating income margin increased to 52 percent compared to 48 percent in the year-ago quarter; 
  • At the end of the first quarter, the company’s worldwide development pipeline increased to more than 275,000 rooms, including approximately 29,000 rooms approved, but not yet subject to signed contracts; 
  • More than 10,000 rooms were added during the first quarter, including 1,500 rooms converted from competitor brands and over 3,300 rooms in international markets; 
  • Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $458 million in the quarter, a 7 percent increase over first quarter 2015 adjusted EBITDA; 
  • Acquisition of Starwood Hotels & Resorts Worldwide is on track to close mid-2016. 

Marriott International, Inc. (NASDAQ: MAR) today reported first quarter 2016 results.

First quarter 2016 adjusted net income totaled $226 million, a 9 percent increase over 2015 first quarter net income.  Adjusted diluted earnings per share (EPS) in the first quarter totaled $0.87, a 19 percent increase from diluted EPS in the year-ago quarter.  Adjusted net income and adjusted diluted EPS for the first quarter of 2016 exclude $10 million ($7 million after-tax and $0.02 per diluted share) of transition and transaction costs related to the Starwood acquisition.  On February 17, 2016, the company forecasted first quarter diluted EPS of $0.81 to $0.85, which did not include transition and transaction costs related to the Starwood acquisition.

Reported net income totaled $219 million in the first quarter of 2016 compared to $207 million in the year-ago quarter.  Reported diluted EPS was $0.85 in the first quarter of 2016 compared to $0.73 in the first quarter of 2015.


More about...




You will also like to read...







< Previous news Next news >


Our weekend edition is out!
Click here to read it

Join us on Facebook Follow us on LinkedIn Follow us on Instragram Follow us on Youtube Rss news feed



Questions

Hello and welcome to Journal des Palaces

You are a communication or the PR manager?
Click here

You are an applicant?
Check out our questions and answers here!

You are a recruiter?
Check out our questions and answers here!