Strong Europe performance drives Marriott's global figures

30 October 2015 by
Strong Europe performance drives Marriott's global figures

Marriott International has announced a 9% year-on-year increase to $210m (£137m) in global revenue during the third quarter of 2015.

While occupancy across the group's operated properties remained flat, with an increase of just 0.6% to 76.1%, in Europe it grew by 2.5% to 82.9%.

Europe also produced a strong set of revenue per available room (revpar) and average room rate (ARR) figures among the Marriott-managed hotels, increasing by 8.8% to $147.82 (£96.36) and 5.5% respectively to $178.39 (£116.29). Globally, revpar increased by 4.1% to $131.05 (£85.44) and ARR by 3.4% to $172.26 (£112.30).

Arne Sorenson, president and chief executive of Marriott International, said: "Our asset-light business model continues to deliver significant profit growth with modest capital requirements, yielding outstanding return to shareholders. For the full year 2015, we expect to return more than $2.25 billion to shareholders through dividends and share repurchases, a record which would bring our total return to shareholders to nearly $8 billion over the last 5 years."

Marriott added 68 new hotels, comprising 10,253 rooms, during the third quarter and by the end of the year expects to have increased its room total by between 7% and 8%. Its current tally of 4,364 hotels includes 750,000 rooms.

The company's 19 brands include Ritz-Carlton, Edition, JW Marriott, Renaissance and Moxy.

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