Marriott Q1 Revenue Rises to $5B

Ticker: MAR · Form: 10-Q · Filed: 2024-05-01T00:00:00.000Z

Sentiment: bullish

Topics: earnings, revenue, hospitality

TL;DR

Marriott's Q1 revenue hit $5B, up from $4.76B last year. Hotels are booming!

AI Summary

Marriott International Inc. reported its first quarter 2024 results, with total revenue for the three months ended March 31, 2024, reaching $5.00 billion. This represents a significant increase compared to the $4.76 billion in revenue for the same period in 2023. The company's performance was driven by growth across its various segments, including management and franchise fees.

Why It Matters

This filing shows Marriott's continued revenue growth in early 2024, indicating a strong performance in the hospitality sector.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative developments.

Key Numbers

$5.00B — Q1 2024 Revenue (Represents total revenue for the first quarter of 2024.)
$4.76B — Q1 2023 Revenue (Represents total revenue for the first quarter of 2023, used for comparison.)

Key Players & Entities

Marriott International Inc. (company) — Filer of the 10-Q report
20240331 (date) — End of the reporting period
$5.00 billion (dollar_amount) — Total revenue for Q1 2024
$4.76 billion (dollar_amount) — Total revenue for Q1 2023

FAQ

What was Marriott's total revenue for the first quarter of 2024?

Marriott's total revenue for the three months ended March 31, 2024, was $5.00 billion.

How does Marriott's Q1 2024 revenue compare to Q1 2023?

Marriott's Q1 2024 revenue of $5.00 billion is an increase from $4.76 billion in Q1 2023.

What is the reporting period for this 10-Q filing?

The conformed period of report is March 31, 2024.

What is Marriott's primary business classification according to the filing?

Marriott International Inc. is classified under HOTELS & MOTELS [7011].

What was the company's address listed in the filing?

The company's business and mail address is 7750 Wisconsin Avenue, Bethesda, MD 20814.

From the Filing

0001628280-24-019494.txt : 20240501 0001628280-24-019494.hdr.sgml : 20240501 20240501111809 ACCESSION NUMBER: 0001628280-24-019494 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 59 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240501 DATE AS OF CHANGE: 20240501 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MARRIOTT INTERNATIONAL INC /MD/ CENTRAL INDEX KEY: 0001048286 STANDARD INDUSTRIAL CLASSIFICATION: HOTELS & MOTELS [7011] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 522055918 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-13881 FILM NUMBER: 24901230 BUSINESS ADDRESS: STREET 1: 7750 WISCONSIN AVENUE CITY: BETHESDA STATE: MD ZIP: 20814 BUSINESS PHONE: 3013803000 MAIL ADDRESS: STREET 1: 7750 WISCONSIN AVENUE CITY: BETHESDA STATE: MD ZIP: 20814 FORMER COMPANY: FORMER CONFORMED NAME: NEW MARRIOTT MI INC DATE OF NAME CHANGE: 19971023 10-Q 1 mar-20240331.htm 10-Q mar-20240331 false 2024 Q1 MARRIOTT INTERNATIONAL INC /MD/ 0001048286 December 31 0001048286 2024-01-01 2024-03-31 0001048286 2024-04-25 xbrli:shares 0001048286 us-gaap:ManagementServiceBaseMember 2024-01-01 2024-03-31 iso4217:USD 0001048286 us-gaap:ManagementServiceBaseMember 2023-01-01 2023-03-31 0001048286 us-gaap:FranchiseMember 2024-01-01 2024-03-31 0001048286 us-gaap:FranchiseMember 2023-01-01 2023-03-31 0001048286 us-gaap:ManagementServiceIncentiveMember 2024-01-01 2024-03-31 0001048286 us-gaap:ManagementServiceIncentiveMember 2023-01-01 2023-03-31 0001048286 mar:FeeServiceMember 2024-01-01 2024-03-31 0001048286 mar:FeeServiceMember 2023-01-01 2023-03-31 0001048286 mar:OwnedLeasedandOtherMember 2024-01-01 2024-03-31 0001048286 mar:OwnedLeasedandOtherMember 2023-01-01 2023-03-31 0001048286 mar:ReimbursementsMember 2024-01-01 2024-03-31 0001048286 mar:ReimbursementsMember 2023-01-01 2023-03-31 0001048286 2023-01-01 2023-03-31 iso4217:USD xbrli:shares 0001048286 2024-03-31 0001048286 2023-12-31 0001048286 us-gaap:TrademarksAndTradeNamesMember 2024-03-31 0001048286 us-gaap:TrademarksAndTradeNamesMember 2023-12-31 0001048286 mar:ContractAcquisitionCostsAndOtherMember 2024-03-31 0001048286 mar:ContractAcquisitionCostsAndOtherMember 2023-12-31 0001048286 mar:LoyaltyProgramMember 2024-03-31 0001048286 mar:LoyaltyProgramMember 2023-12-31 0001048286 mar:ContractServicesExcludingLoyaltyProgramMember 2024-03-31 0001048286 mar:ContractServicesExcludingLoyaltyProgramMember 2023-12-31 0001048286 mar:LoyaltyProgramMember 2024-01-01 2024-03-31 0001048286 mar:LoyaltyProgramMember 2023-01-01 2023-03-31 0001048286 2022-12-31 0001048286 2023-03-31 0001048286 us-gaap:RestrictedStockUnitsRSUMember 2024-01-01 2024-03-31 0001048286 mar:PerformanceBasedRestrictedStockUnitsRSUsMember 2024-01-01 2024-03-31 xbrli:pure 0001048286 us-gaap:GuaranteeOfIndebtednessOfOthersMember 2024-03-31 0001048286 mar:GuaranteeOperatingProfitMember 2024-03-31 0001048286 us-gaap:GuaranteeTypeOtherMember 2024-03-31 0001048286 mar:NotYetInEffectConditionMember mar:GuaranteeOperatingProfitMember 2024-03-31 0001048286 mar:BuildingandLandLeaseholdMember mar:SheratonGrandChicagoHotelMember 2017-12-31 0001048286 us-gaap:LandMember mar:SheratonGrandChicagoHotelMember 2024-03-31 0001048286 mar:BuildingandLandLeaseholdMember mar:SheratonGrandChicagoHotelMember 2024-03-31 0001048286 mar:SheratonGrandChicagoHotelMember 2024-03-31 0001048286 mar:SheratonGrandChicagoHotelMember 2023-12-31 0001048286 mar:ClassActionLawsuitsRelatedToDataSecurityIncidentMember 2018-11-30 2018-11-30 mar:lawsuit 0001048286 mar:SeriesPSeniorNotesMember us-gaap:SeniorNotesMember 2024-03-31 0001048286 mar:SeriesPSeniorNotesMember 2024-03-31 0001048286 mar:SeriesPSeniorNotesMember 2023-12-31 0001048286 mar:SeriesRNotesMember us-gaap:SeniorNotesMember 2024-03-31 0001048286 mar:SeriesRNotesMember 2024-03-31 0001048286 mar:SeriesRNotesMember 2023-12-31 0001048286 mar:SeriesVNotesMember us-gaap:SeniorNotesMember 2024-03-31 0001048286 mar:SeriesVNotesMe