Marriott International, Inc. to Open 28th Hotel in India
Apr 30 15
Marriott International, Inc. announced that 28th hotel to open in India. With 585 rooms, this luxury property covers 15 acres and offers fabulous indoor and outdoor meeting space.
Marriott International, Inc. Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015; Provides Earnings and Operating Guidance for the Second Quarter and Full Year 2015; Reports Impairment Charges for the First Quarter Ended March 31, 2015
Apr 29 15
Marriott International, Inc. reported unaudited consolidated earnings and operating results for the first quarter ended March 31, 2015. For the quarter, the company reported net income of $207 million or $0.73 per diluted share on total revenues of $3,513 million compared to net income of $172 million or $0.57 per diluted share on total revenues of $3,293 million a year ago. Operating income was $332 million compared to $254 million a year ago. Income before taxes was $307 million compared $231 million a year ago. EBITDA was $314 million compared $273 million a year ago. For the first quarter, adjusted EBITDA totaled $429 million, a 27% increase over first quarter 2014 adjusted EBITDA of $339 million. Operating income, as adjusted was $344 million compared to $264 million a year ago. Total revenues, as adjusted was $715 million compared to $623 million a year ago. The increase in revenue largely reflected higher RevPAR, higher property-level food and beverage revenue, new unit growth and $19 million of higher relicensing fees.
For the 2015 first quarter, RevPAR for worldwide comparable systemwide properties increased 6.8% (a 5.2% increase using actual dollars). In North America, comparable systemwide RevPAR increased 6.9% (a 6.6% increase using actual dollars) in the first quarter of 2015, including a 4.9% increase (a 4.7% increase in actual dollars) in average daily rate. RevPAR for comparable systemwide North American full-service hotels (including Marriott Hotels, The Ritz-Carlton,Renaissance Hotels, Gaylord HotelsandAutograph Collection Hotels) increased 5.3% (a 5.0% increase in actual dollars) with a 4.6% increase (a 4.3% increase in actual dollars) in average daily rate. RevPAR for comparable systemwide North American limited-service hotels (including Courtyard, Residence Inn, SpringHill Suites, TownePlaceSuites and Fairfield Inn & Suites) increased 8.3% (an 8.0% increase in actual dollars) in the first quarter with a 5.6% increase (a 5.3% increase in actual dollars) in average daily rate. International comparable systemwide RevPAR rose 6.7% (a 0.2% decline using actual dollars) in the first quarter.
First quarter 2015 results reflect impairment charges totaling $12 million pretax while the prior year quarter included both a $10 million pretax impairment charge and a net $16 million tax benefit.
For the 2015 second quarter, the company expected comparable systemwide RevPAR on a constant dollar basis will increase 5% to 7% in North America, 3 to 5% outside North America and 5 to 7% worldwide. The company's guidance for second quarter RevPAR growth reflects the shift of Ramadan, which will begin earlier in the second quarter this year.
For full year 2015, the company expected comparable systemwide RevPAR on a constant dollar basis will increase 5 to 7% in North America, 4 to 6% outside North America and 5 to 7% worldwide. The company anticipates gross room additions of approximately 8%, or 7%, net, worldwide for the full year 2015, including the approximately 10,000 rooms associated with the recently completed acquisition of Delta Hotels. The company assumes full year fee revenue could total $1,890 million to $1,930 million, growth of 10 to 12% over 2014 fee revenue of $1,719 million. This fee revenue estimate reflects approximately $11 to $13 million of incremental fees associated with the Delta acquisition, partially offset by the impact of later than anticipated openings of new hotels in 2015 and the continued strengthening of the U.S. dollar. With very strong incentive fee performance in the first quarter, the company anticipates incentive management fees alone will increase at a mid-teens rate for full year 2015. The company estimates depreciation, amortization, and other expenses for full year 2015 will total approximately $150 million, including approximately $3 million of amortization related to the Delta transaction. The company expects full year 2015 adjusted EBITDA will total $1,730 million to $1,780 million, a 14% to 17% increase over the 2014 full year adjusted EBITDA of $1,524 million. The company expects investment spending in 2015 will total approximately $600 million to $800 million, including approximately $140 million for maintenance capital and approximately $135 million for the Delta transaction.
Marriott Hotels Announces the Opening of Guyana Marriott Hotel Georgetown
Apr 17 15
Marriott Hotels, the brand of Marriott International, Inc. announced the opening of Guyana Marriott Hotel Georgetown, the first Marriott International property for the country. Surrounded by the high-tech features and iconic glamour of the all-new Marriott Hotel, the 500 VIP guests, enjoyed the live music of the National Steel Orchestra, sipped on the Guyana Marriott Signature cocktail and dined from a specially curated menu by executive chef of international and local Guyanese delights. TECHNOLOGY: The Guyana Marriott Hotel Georgetown debuts technology throughout the property starting with offering the wireless internet available on the market making easier for travelers to stay connected through email, social media and video streaming. Recognizing that guests are dependent on their mobile devices, the hotel will offer the company’s innovative mobile check-in service for a seamless arrival process for guests. The property will also feature Red Coat Direct, a first-of-its-kind app that lets meeting planners input and adjust meeting requests with a swipe of a screen. Business travelers will appreciate the fitness center, complimentary for hotel guests only. Built for the athletic guest in mind, the fitness facility features the latest equipment and tech for cardio, strength and core training. INNOVATIVE & BOLD DESIGN: The 197-room Guyana Marriott Hotel Georgetown creates a striking new visual in the city both inside and out and is equipped to enable guests to Travel Brilliantly. Located in the heart of Georgetown where the Demerara River meets the Atlantic Ocean, the hotel features the brand’s signature interactive Greatroom concept. The Greatroom lobby provides a destination where guests and locals can gather, by themselves or with friends or colleagues, to relax, socialize and work. With free Wi-Fi and USB ports and outlets throughout the lobby, hotel guests and locals can work on their laptops and relax with their own tablets. The hotel’s custom designed guestrooms feature a soothing neutral palate, Wi-Fi, luxury bedding, LCD TV’S, alarm clocks with iPhone 5 and iPad docking station, and Marriott Hotels’ signature bath amenities by THANN, a natural Thai skincare line. For the local and visiting foodies, the property features the long awaited Terra Mare restaurant that boasts a complete culinary experience from land and sea with a full wine list that pairs beautifully with the featured dishes. The hotel also has an outdoor modern pool deck with a sleek bar & grill, and more than 8,900 square feet of meeting space, including a beautiful, modern grand ballroom.