The world's largest hospitality company is only getting bigger on the heels of a banner 2022.
In the fourth quarter of 2022, Marriott’s worldwide revenue per average room grew 5% compared to the same period in pre-pandemic 2019, driven by a 13% increase in the average daily room rate . The key metrics of RevPAR and ADR exceeded 2019 levels everywhere except China, which onlyIn large part, Marriott’s success reflects the industry’s post-pandemic recovery.
“Our fee-driven, asset-light business model generated significant cash during the year, allowing us to both invest in the growth of our business and return $2.9 billion to shareholders,” said Capuano, who noted that the company has a“Owners and franchisees continue to show a strong preference for our brands,” continued Capuano. Last year, the company’s development team signed nearly 108,000 rooms globally, with nearly 40% in high-value luxury and premium brands.
The strongest sign that the company is feeling flush is the $2.6 billion worth of stock that Marriott repurchased last year, including $1.4 billion just in the fourth quarter. The company returned $2.9 billion to shareholders in 2022.Follow me on
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