Marriott International Files 2024 10-K

TL;DR

Marriott dropped its 2024 10-K. All systems go.

AI Summary

Marriott International Inc. filed its 2024 10-K on February 11, 2025, reporting on its fiscal year ending December 31, 2024. The company, headquartered in Bethesda, MD, operates in the Hotels & Motels sector. Key financial data and operational details for the period are presented in this comprehensive filing.

Why It Matters

This filing provides investors and analysts with a detailed overview of Marriott's financial performance and strategic positioning for the 2024 fiscal year, crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a routine annual filing providing historical financial data and business overview.

Key Players & Entities

• MARRIOTT INTERNATIONAL INC /MD/ (company) — Filer
• 20241231 (date) — Fiscal Year End
• 20250211 (date) — Filing Date
• 7750 WISCONSIN AVENUE (address) — Business Address
• BETHESDA (city) — Business Address City
• MD (state) — Business Address State
• 20814 (zip_code) — Business Address Zip

FAQ

Key Financial Figures

• $0.01 — Which Registered Class A Common Stock, $0.01 par value MAR Nasdaq Global Select Mark

Filing Documents

• mar-20241231.htm (10-K) — 2000KB
• mar-q42024xexx1017.htm (EX-10.17) — 56KB
• mar-2024q4xexx19.htm (EX-19) — 76KB
• mar-q42024xexx21.htm (EX-21) — 459KB
• mar-q42024xexx23.htm (EX-23) — 6KB
• mar-q42024xexx311.htm (EX-31.1) — 10KB
• mar-q42024xexx312.htm (EX-31.2) — 10KB
• mar-q42024xexx32.htm (EX-32) — 8KB
• mar-20241231_g1.jpg (GRAPHIC) — 182KB
• mar-20241231_g2.jpg (GRAPHIC) — 1834KB
• 0001628280-25-004818.txt ( ) — 14421KB
• mar-20241231.xsd (EX-101.SCH) — 62KB
• mar-20241231_cal.xml (EX-101.CAL) — 114KB
• mar-20241231_def.xml (EX-101.DEF) — 308KB
• mar-20241231_lab.xml (EX-101.LAB) — 781KB
• mar-20241231_pre.xml (EX-101.PRE) — 552KB
• mar-20241231_htm.xml (XML) — 1488KB

Business

Business 4 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 19 Item 1C. Cybersecurity 19 Item 2.

Properties

Properties 20 Item 3.

Legal Proceedings

Legal Proceedings 20 Item 4. Mine Safety Disclosures 21 Part II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 21 Item 6. Reserved 21 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 8.

Financial Statements

Financial Statements 31 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 62 Item 9A.

Controls and Procedures

Controls and Procedures 62 Item 9B. Other Information 63 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 63 Part III. Item 10. Directors, Executive Officers, and Corporate Governance 64 Item 11.

Executive Compensation

Executive Compensation 64 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 64 Item 13. Certain Relationships and Related Transactions, and Director Independence 64 Item 14. Principal Accountant Fees and Services 64 Part IV. Item 15. Exhibits and Financial Statement Schedules 68 Item 16. Form 10-K Summary 72

Signatures

Signatures 73 2 Table of Contents Throughout this report, we refer to Marriott International, Inc., together with its consolidated subsidiaries, as "we," "us," "Marriott," or the "Company." In order to make this report easier to read, we also refer throughout to (1) our Consolidated Financial Statements as our "Financial Statements," (2) our Consolidated Statements of Income as our "Income Statements," (3) our Consolidated Balance Sheets as our "Balance Sheets," (4) our Consolidated Statements of Cash Flows as our "Statements of Cash Flows," (5) our properties, brands, or markets in the United States and Canada as "U.S. & Canada," and (6) our properties, brands, or markets in our Europe, Middle East & Africa, Greater China, Asia Pacific excluding China, and Caribbean & Latin America regions, as "International." References throughout to numbered "Notes" refer to the Notes to our Financial Statements, unless otherwise stated. In addition, we use the term "hotel owners" throughout this report to refer, collectively, to owners of hotels and other lodging offerings operating in our system pursuant to management agreements, franchise agreements, license agreements or similar arrangements, and we use the term "hotels in our system" to refer to hotels and other lodging offerings operating in our system pursuant to such arrangements, as well as hotels that we own or lease. The terms "hotel owners" and "hotels in our system" exclude Homes & Villas by Marriott Bonvoy (which we also exclude from our property and room count), timeshare, residential, and The Ritz-Carlton Yacht Collection . Cautionary Statement All statements in this report are made as of the date this Form 10-K is filed with the U.S. Securities and Exchange Commission (the "SEC"). We undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise. We make forward-looking statements in Management's Discussion and Analysis of Financ

Business

Item 1. Business. Overview We are a worldwide operator, franchisor, and licensor of hotel, residential, timeshare, and other lodging properties under more than 30 brand names at different price and service points. Consistent with our focus on management, franchising, and licensing, we own or lease very few of our lodging properties (less than one percent of our system). As of year-end 2024, our system included 9,361 properties (1,706,331 rooms) in 144 countries and territories, and we also had nearly 3,800 hotels (over 577,000 rooms) in our development pipeline. We discuss our operations in the following reportable business segments: (1) U.S. & Canada, (2) Europe, Middle East & Africa ("EMEA"), (3) Greater China, and (4) Asia Pacific excluding China ("APEC"). Our Caribbean & Latin America ("CALA") operating segment does not meet the applicable accounting criteria for separate disclosure as a reportable business segment, and as such, we include its results in "Unallocated corporate and other." See Note 14 for more information. Brand Portfolio We believe that our brand portfolio offers the most compelling range of brands and lodging offerings in hospitality. Our brands are categorized by style of offering - Classic and Distinctive. Our Classic brands offer time-honored hospitality for the modern traveler, and our Distinctive brands offer memorable experiences with a unique perspective - each of which we group into four quality tiers: Luxury, Premium, Select, and Midscale. Luxury offers bespoke and superb amenities and services. Premium offers sophisticated and thoughtful amenities and services. Select offers smart and easy amenities and services. Midscale offers limited services and essential amenities at a more affordable price point. Longer stay brands, which are classified under multiple quality tiers, offer amenities that mirror the comforts of home. The following table shows the portfolio of brands owned, operated, and/or licensed by Marriott for properties

View Full Filing

View this 10-K filing on SEC EDGAR