Marriott Q3 Revenue Surges to $15.99B

TL;DR

Marriott's Q3 revenue hit $15.99B, up from $14.18B last year. Book it!

AI Summary

Marriott International Inc. reported its Q3 2024 results, with total revenue for the nine months ending September 30, 2024, reaching $15.99 billion. This represents a significant increase compared to the $14.18 billion reported for the same period in 2023. The company's performance reflects growth across its management and franchise segments.

Why It Matters

This filing shows Marriott's strong revenue growth in the first nine months of 2024, indicating a healthy travel and hospitality sector and positive performance for the company.

Risk Assessment

Risk Level: low — The filing indicates strong financial performance and growth, with no immediate red flags.

Key Numbers

• $15.99B — Total Revenue (9 months ended Sep 30, 2024) (Represents significant year-over-year growth.)
• $14.18B — Total Revenue (9 months ended Sep 30, 2023) (Provides a basis for comparison to current year performance.)

Key Players & Entities

• Marriott International Inc. (company) — Filer of the 10-Q report
• $15.99 billion (dollar_amount) — Total revenue for the nine months ending September 30, 2024
• $14.18 billion (dollar_amount) — Total revenue for the nine months ending September 30, 2023
• September 30, 2024 (date) — End of the reporting period for Q3 2024
• September 30, 2023 (date) — End of the comparative reporting period for Q3 2023

FAQ

Key Financial Figures

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

Filing Documents

• mar-20240930.htm (10-Q) — 1290KB
• mar-q32024xexx101.htm (EX-10.1) — 8KB
• mar-q32024xexx102.htm (EX-10.2) — 1642KB
• mar-q32024xexx311.htm (EX-31.1) — 10KB
• mar-q32024xexx312.htm (EX-31.2) — 10KB
• mar-q32024xexx32.htm (EX-32) — 8KB
• image_0a.jpg (GRAPHIC) — 227KB
• image_1a.jpg (GRAPHIC) — 272KB
• mar-20240930_g1.jpg (GRAPHIC) — 182KB
• 0001628280-24-044884.txt ( ) — 9210KB
• mar-20240930.xsd (EX-101.SCH) — 34KB
• mar-20240930_cal.xml (EX-101.CAL) — 59KB
• mar-20240930_def.xml (EX-101.DEF) — 180KB
• mar-20240930_lab.xml (EX-101.LAB) — 445KB
• mar-20240930_pre.xml (EX-101.PRE) — 296KB
• mar-20240930_htm.xml (XML) — 1120KB

Financial Information (Unaudited)

Part I. Financial Information (Unaudited)

Financial Statements

Item 1. Financial Statements Condensed Consolidated Statements of Income 3 Condensed Consolidated Statements of Comprehensive Income 4 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Cash Flows 6 Notes to Condensed Consolidated Financial Statements 7

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Cautionary Statement 15

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 23

Controls and Procedures

Item 4. Controls and Procedures 23

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 24

Risk Factors

Item 1A. Risk Factors 24

Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 24

Other Information

Item 5. Other Information 24

Exhibits

Item 6. Exhibits 25 Signature 26 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

. Financial Statements

Item 1 . Financial Statements MARRIOTT INTERNATIONAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (in millions, except per share amounts) (Unaudited) Three Months Ended Nine Months Ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 REVENUES Base management fees $ 312 $ 306 $ 955 $ 917 Franchise fees 812 748 2,318 2,126 Incentive management fees 159 143 563 537 Gross fee revenues 1,283 1,197 3,836 3,580 Contract investment amortization ( 26 ) ( 23 ) ( 76 ) ( 66 ) Net fee revenues 1,257 1,174 3,760 3,514 Owned, leased, and other revenue 381 363 1,133 1,109 Cost reimbursement revenue 4,617 4,391 13,778 12,995 6,255 5,928 18,671 17,618 OPERATING COSTS AND EXPENSES Owned, leased, and other - direct 300 293 882 861 Depreciation, amortization, and other 45 46 137 138 General, administrative, and other 276 239 785 681 Restructuring and merger-related charges 9 13 25 52 Reimbursed expenses 4,681 4,238 13,827 12,740 5,311 4,829 15,656 14,472 OPERATING INCOME 944 1,099 3,015 3,146 Gains and other income, net 7 28 15 33 Interest expense ( 179 ) ( 146 ) ( 515 ) ( 412 ) Interest income 11 7 30 21 Equity in earnings 3 1 8 9 INCOME BEFORE INCOME TAXES 786 989 2,553 2,797 Provision for income taxes ( 202 ) ( 237 ) ( 633 ) ( 562 ) NET INCOME $ 584 $ 752 $ 1,920 $ 2,235 EARNINGS PER SHARE Earnings per share – basic $ 2.08 $ 2.52 $ 6.71 $ 7.36 Earnings per share – diluted $ 2.07 $ 2.51 $ 6.69 $ 7.32 See Notes to Condensed Consolidated Financial Statements. 3 Table of Contents MARRIOTT INTERNATIONAL, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (in millions) (Unaudited) Three Months Ended Nine Months Ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Net income $ 584 $ 752 $ 1,920 $ 2,235 Other comprehensive income (loss) Foreign currency translation adjustments 209 ( 139 ) ( 62 ) ( 132 ) Other adjustments, net of tax ( 18 ) 6 ( 5 ) 12 Total oth

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