• 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.