Marriott International Q2 2024: Revenue Growth Continues

Ticker: MAR · Form: 10-Q · Filed: 2024-07-31T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, earnings, hospitality, revenue

TL;DR

Marriott's Q2 revenue up across management & franchise segments. Growth continues!

AI Summary

Marriott International Inc. reported its Q2 2024 results, with revenue for the six months ending June 30, 2024, showing increases in both its Management and Franchise segments compared to the same period in 2023. Specifically, the Management Service Base revenue grew, as did Franchise revenue, indicating continued operational strength and expansion in its core business lines.

Why It Matters

This filing provides insight into Marriott's performance in the second quarter of 2024, reflecting the company's ability to grow revenue in its key segments amidst the current economic climate.

Risk Assessment

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

Key Numbers

2024-06-30 — End of Reporting Period (Indicates the timeframe for the financial data presented.)
2024-01-01 — Start of Reporting Period (Marks the beginning of the period covered by the report.)

Key Players & Entities

Marriott International Inc. (company) — Filer of the 10-Q report
20240630 (date) — End of the reporting period
20240731 (date) — Filing date

FAQ

What was the revenue for Marriott's Management Service Base segment in Q2 2024?

The filing indicates data for the period April 1, 2024, to June 30, 2024, for the Management Service Base Member, but specific dollar amounts are not detailed in this excerpt.

How did Marriott's Franchise revenue perform in the first half of 2024 compared to 2023?

The filing shows data for the period January 1, 2024, to June 30, 2024, for the Franchise Member, and compares it to the same period in 2023, suggesting a trend analysis is available within the full report.

What is the fiscal year end for Marriott International Inc.?

Marriott International Inc.'s fiscal year ends on December 31.

When was this 10-Q filing submitted to the SEC?

This 10-Q filing was submitted on July 31, 2024.

What is the SIC code for Marriott International Inc.?

The Standard Industrial Classification code for Marriott International Inc. is 7011, Hotels & Motels.

From the Filing

0001628280-24-033679.txt : 20240731 0001628280-24-033679.hdr.sgml : 20240731 20240731112200 ACCESSION NUMBER: 0001628280-24-033679 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 57 CONFORMED PERIOD OF REPORT: 20240630 FILED AS OF DATE: 20240731 DATE AS OF CHANGE: 20240731 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: 241160531 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-20240630.htm 10-Q mar-20240630 false 2024 Q2 MARRIOTT INTERNATIONAL INC /MD/ 0001048286 December 31 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure mar:lawsuit mar:segment 0001048286 2024-01-01 2024-06-30 0001048286 2024-07-24 0001048286 us-gaap:ManagementServiceBaseMember 2024-04-01 2024-06-30 0001048286 us-gaap:ManagementServiceBaseMember 2023-04-01 2023-06-30 0001048286 us-gaap:ManagementServiceBaseMember 2024-01-01 2024-06-30 0001048286 us-gaap:ManagementServiceBaseMember 2023-01-01 2023-06-30 0001048286 us-gaap:FranchiseMember 2024-04-01 2024-06-30 0001048286 us-gaap:FranchiseMember 2023-04-01 2023-06-30 0001048286 us-gaap:FranchiseMember 2024-01-01 2024-06-30 0001048286 us-gaap:FranchiseMember 2023-01-01 2023-06-30 0001048286 us-gaap:ManagementServiceIncentiveMember 2024-04-01 2024-06-30 0001048286 us-gaap:ManagementServiceIncentiveMember 2023-04-01 2023-06-30 0001048286 us-gaap:ManagementServiceIncentiveMember 2024-01-01 2024-06-30 0001048286 us-gaap:ManagementServiceIncentiveMember 2023-01-01 2023-06-30 0001048286 mar:FeeServiceMember 2024-04-01 2024-06-30 0001048286 mar:FeeServiceMember 2023-04-01 2023-06-30 0001048286 mar:FeeServiceMember 2024-01-01 2024-06-30 0001048286 mar:FeeServiceMember 2023-01-01 2023-06-30 0001048286 mar:OwnedLeasedandOtherMember 2024-04-01 2024-06-30 0001048286 mar:OwnedLeasedandOtherMember 2023-04-01 2023-06-30 0001048286 mar:OwnedLeasedandOtherMember 2024-01-01 2024-06-30 0001048286 mar:OwnedLeasedandOtherMember 2023-01-01 2023-06-30 0001048286 mar:ReimbursementsMember 2024-04-01 2024-06-30 0001048286 mar:ReimbursementsMember 2023-04-01 2023-06-30 0001048286 mar:ReimbursementsMember 2024-01-01 2024-06-30 0001048286 mar:ReimbursementsMember 2023-01-01 2023-06-30 0001048286 2024-04-01 2024-06-30 0001048286 2023-04-01 2023-06-30 0001048286 2023-01-01 2023-06-30 0001048286 2024-06-30 0001048286 2023-12-31 0001048286 us-gaap:TrademarksAndTradeNamesMember 2024-06-30 0001048286 us-gaap:TrademarksAndTradeNamesMember 2023-12-31 0001048286 mar:ContractAcquisitionCostsAndOtherMember 2024-06-30 0001048286 mar:ContractAcquisitionCostsAndOtherMember 2023-12-31 0001048286 mar:LoyaltyProgramMember 2024-06-30 0001048286 mar:LoyaltyProgramMember 2023-12-31 0001048286 mar:ContractServicesExcludingLoyaltyProgramMember 2024-06-30 0001048286 mar:ContractServicesExcludingLoyaltyProgramMember 2023-12-31 0001048286 mar:LoyaltyProgramMember 2024-01-01 2024-06-30 0001048286 mar:LoyaltyProgramMember 2023-01-01 2023-06-30 0001048286 2022-12-31 0001048286 2023-06-30 0001048286 us-gaap:RestrictedStockUnitsRSUMember 2024-01-01 2024-06-30 0001048286 mar:PerformanceBasedRestrictedStockUnitsRSUsMember 2024-01-01 2024-06-30 0001048286 us-gaap:GuaranteeOfIndebtednessOfOthersMember 2024-06-30 0001048286 mar:GuaranteeOperatingProfitMember 2024-06-30 0001048286 us-gaap:GuaranteeTypeOtherMember 2024-06-30 0001048286 mar:GuaranteeOperatingProfitMember mar:NotYetInEffectConditionMember 2024-06-30 0001048286 mar:BuildingandLandLeaseholdMember mar:SheratonGrandChicagoHotelMember