Marriott (MAR) reported earnings 30 days ago. What's next for the stock?
MAR's focus on the Bonvoy loyalty program enhancements and strategic partnerships bodes well. However, soft demand in China is a concern.
Marriott Vacations Worldwide has seen a 29% gain over the past year, with recent recovery post-summer volatility, but remains below Q2 highs. Q3 results showed a $1.80 EPS, beating estimates by $0.20, with revenue up 10% to $1.3 billion, driven by Hawaii's recovery. Financing revenue rose 7%, but credit quality issues persist, with $281 million past due and $516 million in reserves, posing potential risks.
MAR collaborates with New Development Group to open its second EDITION-branded hotel in Shanghai.
MAR's expansion of its branded residential portfolio into the EMEA region marks great heights for this segment on a global aspect.
Modest-income households have a strong appetite for travel and "a real desire to find a value alternative," said Marriott CEO Anthony Capuano, while in Japan following the debut opening of the company's midscale brand, Four Points Flex by Sheraton, in Asia-Pacific (excluding China).
Marriott International's business operations and growth are solid, CEO Anthony Capuano told CNBC Monday, amid corporate layoffs and sluggishness in China's domestic tourism market. Demand and high occupancy levels in Japan, the Middle East and Western Europe are driving global growth, he said.
Marriott International MAR reported worse-than-expected third-quarter financial results and issued FY24 adjusted EPS guidance below estimates on Monday.
Global hotel chain Marriott International (MAR) cut its full-year outlook in connection to declining revenue in the Chinese market. Marriott just missed estimates on its top and bottom lines, posting $6.25 billion in revenue and adjusted earnings per share of $2.26.
Marriott International, Inc. (NASDAQ:MAR ) Q3 2024 Earnings Conference Call November 4, 2024 8:30 AM ET Company Participants Jackie McConagha - SVP, IR Anthony Capuano - President & CEO Leeny Oberg - CFO & EVP, Development Conference Call Participants Stephen Grambling - Morgan Stanley Shaun Kelley - Bank of America Patrick Scholes - Truist Securities Richard Clarke - Bernstein Robin Farley - UBS Joe Greff - JPMorgan Brandt Montour - Barclays David Katz - Jefferies Dan Politzer - Wells Fargo Michael Bellisario - Baird Duane Pfennigwerth - Evercore ISI Smedes Rose - Citi Lizzie Dove - Goldman Sachs Chad Beynon - Macquarie Conor Cunningham - Melius Research Operator Good day, and welcome to today's Marriott International Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.
Marriott International MAR shares dropped Monday following third-quarter earnings that missed expectations. Despite a decline, the stock appears to have found support at a key price level, reflecting “market memory.
MAR's third-quarter top line reflects strong contributions from Base management and Franchise fees.