MARRIOTT INTERNATIONAL REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS
- Fourth quarter 2022 comparable systemwide constant dollar RevPAR increased 28.8 percent worldwide, 23.6 percent in the
U.S. &Canada , and 45.1 percent in international markets, compared to the 2021 fourth quarter; - Fourth quarter 2022 comparable systemwide constant dollar RevPAR increased 4.6 percent worldwide, 5.2 percent in the
U.S. &Canada , and 3.4 percent in international markets, compared to the 2019 fourth quarter; - Fourth quarter reported diluted EPS totaled
$2.12 , compared to reported diluted EPS of$1.42 in the year-ago quarter. Fourth quarter adjusted diluted EPS totaled$1.96 , compared to fourth quarter 2021 adjusted diluted EPS of$1.30 ; - Fourth quarter reported net income totaled
$673 million , compared to reported net income of$468 million in the year-ago quarter. Fourth quarter adjusted net income totaled$622 million , compared to fourth quarter 2021 adjusted net income of$430 million ; - Adjusted EBITDA totaled
$1,090 million in the 2022 fourth quarter, compared to fourth quarter 2021 adjusted EBITDA of$741 million ; - The company added more than 65,000 rooms globally during 2022, including approximately 40,000 rooms in international markets and nearly 17,500 conversion rooms. Net rooms grew 3.1 percent from year-end 2022;
- At the end of the year, Marriott's worldwide development pipeline totaled over 3,000 properties and more than 496,000 rooms, including roughly 22,300 rooms approved, but not yet subject to signed contracts. Approximately 199,000 rooms in the pipeline were under construction as of the end of 2022;
- For full year 2022, Marriott repurchased 16.8 million shares of common stock for
$2.6 billion , including 8.7 million shares for$1.4 billion in the fourth quarter. The company returned$2.9 billion to shareholders in 2022.
"For the fourth quarter, worldwide RevPAR1 grew 5 percent compared to 2019, driven by a 13 percent increase in ADR. With the exception of
"In our largest region, the
"Owners and franchisees continue to show a strong preference for our brands. Our development team had an excellent year, signing nearly 108,000 rooms globally. We were pleased to see nearly 40 percent of those rooms in high value luxury and premium brands. With nearly 50 percent of rooms signed during the year in international markets, we look forward to further expanding our distribution and adding more options for our over 177 million
"As we look ahead, while concerns about the macroeconomic environment persist around the world, booking trends to date remain robust and we have significant momentum in our business. With our industry-leading brand portfolio, powerful loyalty program, the largest global rooms distribution, and our incredibly dedicated associates, Marriott is well-positioned for strong growth over the coming years as people around the world further embrace their love for travel."
Fourth Quarter 2022 Results
Marriott's reported operating income totaled
Adjusted operating income in the 2022 fourth quarter totaled
Adjusted results excluded cost reimbursement revenue, reimbursed expenses and restructuring, merger-related charges, and other expenses. See pages A-3 and A-12 for the calculation of adjusted results and the manner in which the adjusted measures are determined in this press release.
Base management and franchise fees totaled
Incentive management fees totaled
Owned, leased, and other revenue, net of direct expenses, totaled
General, administrative, and other expenses for the 2022 fourth quarter totaled
Interest expense, net, totaled
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled
Selected Performance Information
The company added 145 properties (22,589 rooms) to its worldwide lodging portfolio during the 2022 fourth quarter, including nearly 6,900 rooms converted from competitor brands and approximately 16,700 rooms in international markets. Eighteen properties (4,484 rooms) exited the system during the quarter. At the end of the year, Marriott's global lodging system totaled nearly 8,300 properties, with over 1,525,000 rooms.
At the end of the year, the company's worldwide development pipeline totaled 3,028 properties with more than 496,000 rooms, including 1,009 properties with approximately 199,000 rooms under construction, or 40 percent of the pipeline, and 133 properties with roughly 22,300 rooms approved for development, but not yet subject to signed contracts.
In the 2022 fourth quarter, worldwide RevPAR increased 28.8 percent (a 25.6 percent increase using actual dollars) compared to the 2021 fourth quarter. RevPAR in the
Balance Sheet & Common Stock
At year-end 2022, Marriott's total debt was
The company repurchased 8.7 million shares of common stock in the 2022 fourth quarter for
Company Outlook1
Results in the first quarter are expected to benefit significantly from the easier comparison to the 2022 quarter when the emergence of Omicron depressed lodging demand. Roughly halfway through the quarter, global booking trends remain robust. In January, worldwide RevPAR was up 51.6 percent year over year.
Given short-term booking windows and a high level of macroeconomic uncertainty, there is less visibility in forecasting the company's financial performance for full year 2023. As a result, the company is providing a broad range of potential full year RevPAR and other key metrics in the following tables. The high end of the range reflects relatively steady global economic conditions throughout 2023, with continued resilience of travel demand across customer segments and markets. The low end of the range reflects a meaningful softening of the global economy beginning in the second quarter with worldwide RevPAR roughly flat compared to 2022 in the second half of the year.
First Quarter 2023 |
Full Year 2023 |
|||
Comparable systemwide constant $ RevPAR growth |
||||
Worldwide |
30% to 32% |
6% to 11% |
||
|
25% to 27% |
5% to 9% |
||
International |
47% to 49% |
12% to 18% |
||
Year-End 2023 |
||||
Gross Rooms Growth |
Approx. 5.5% |
|||
Deletions |
1% to 1.5% |
|||
Net rooms growth |
4% to 4.5% |
|||
($ in millions, except EPS) |
First Quarter 2023 |
Full Year 2023 |
||
Gross fee revenues |
|
|
||
Owned, leased, and other revenue, net of direct expenses |
Approx. |
|
||
General, administrative, and other expenses |
|
|
||
Adjusted EBITDA2,3 |
|
|
||
Adjusted EPS – diluted3 |
|
|
1 |
This outlook assumes that the |
2 |
See pages A-13 & A-14 for the adjusted EBITDA calculations. |
3 |
Adjusted EBITDA and Adjusted EPS – diluted for first quarter and full year 2023 do not include cost reimbursement revenue, reimbursed expenses, restructuring, merger-related charges, and other expenses, or any asset sales that may occur during the year, each of which the company cannot forecast with sufficient accuracy, and which may be significant. |
Additional Company Information
Marriott also announced that
The telephone dial-in number for the conference call is US Toll Free: 800-274-8461, or Global: +1 203-518-9814. The conference ID is MAR4Q22. A telephone replay of the conference call will be available from
Note on forward-looking statements: All statements in this press release and the accompanying schedules are made as of
Marriott encourages investors, the media, and others interested in the company to review and subscribe to the information Marriott posts on its investor relations website at www.marriott.com/investor or Marriott's news center website at www.marriottnewscenter.com, which may be material. The contents of these websites are not incorporated by reference into this press release or any report or document Marriott files with the
1 |
All occupancy, Average Daily Rate (ADR) and RevPAR statistics and estimates are systemwide constant dollar and include hotels that have been temporarily closed due to COVID-19. Unless otherwise stated, all changes refer to year-over-year changes for the comparable period. Occupancy, ADR and RevPAR comparisons between 2022 and 2021 reflect properties that are comparable in both years. Occupancy, ADR and RevPAR comparisons between 2022 and 2019 reflect properties that are defined as comparable as of |
IRPR#1
Tables follow
|
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PRESS RELEASE SCHEDULES |
|||||||||||||||
TABLE OF CONTENTS |
|||||||||||||||
QUARTER 4, 2022 |
|||||||||||||||
Consolidated Statements of Income - As Reported |
A-1 |
||||||||||||||
Non-GAAP Financial Measures |
A-3 |
||||||||||||||
Total Lodging Products |
A-4 |
||||||||||||||
Key Lodging Statistics |
A-7 |
||||||||||||||
Adjusted EBITDA |
A-12 |
||||||||||||||
Adjusted EBITDA Forecast - First Quarter 2023 |
A-13 |
||||||||||||||
Adjusted EBITDA Forecast - Full Year 2023 |
A-14 |
||||||||||||||
Explanation of Non-GAAP Financial and Performance Measures |
A-15 |
||||||||||||||
|
||||||
CONSOLIDATED STATEMENTS OF INCOME - AS REPORTED |
||||||
FOURTH QUARTER 2022 AND 2021 |
||||||
(in millions except per share amounts, unaudited) |
||||||
As Reported |
As Reported |
Percent |
||||
Three Months Ended |
Three Months Ended |
Better/(Worse) |
||||
|
|
Reported 2022 vs. 2021 |
||||
REVENUES |
||||||
Base management fees |
$ 287 |
$ 217 |
32 |
|||
Franchise fees 1 |
658 |
520 |
27 |
|||
Incentive management fees |
186 |
94 |
98 |
|||
Gross Fee Revenues |
1,131 |
831 |
36 |
|||
Contract investment amortization 2 |
(24) |
(19) |
(26) |
|||
Net Fee Revenues |
1,107 |
812 |
36 |
|||
Owned, leased, and other revenue 3 |
396 |
260 |
52 |
|||
Cost reimbursement revenue 4 |
4,420 |
3,374 |
31 |
|||
Total Revenues |
5,923 |
4,446 |
33 |
|||
OPERATING COSTS AND EXPENSES |
||||||
Owned, leased, and other - direct 5 |
295 |
227 |
(30) |
|||
Depreciation, amortization, and other 6 |
46 |
54 |
15 |
|||
General, administrative, and other 7 |
236 |
213 |
(11) |
|||
Restructuring, merger-related charges, and other |
1 |
- |
* |
|||
Reimbursed expenses 4 |
4,349 |
3,317 |
(31) |
|||
Total Expenses |
4,927 |
3,811 |
(29) |
|||
OPERATING INCOME |
996 |
635 |
57 |
|||
Gains and other income, net 8 |
2 |
4 |
(50) |
|||
Interest expense |
(115) |
(97) |
(19) |
|||
Interest income |
8 |
6 |
33 |
|||
Equity in earnings (losses) 9 |
- |
- |
- |
|||
INCOME BEFORE INCOME TAXES |
891 |
548 |
63 |
|||
Provision for income taxes |
(218) |
(80) |
(173) |
|||
NET INCOME |
$ 673 |
$ 468 |
44 |
|||
EARNINGS PER SHARE |
||||||
Earnings per share - basic |
$ 2.13 |
$ 1.43 |
49 |
|||
Earnings per share - diluted |
$ 2.12 |
$ 1.42 |
49 |
|||
Basic Shares |
316.5 |
327.6 |
||||
Diluted Shares |
317.9 |
329.8 |
||||
* |
Calculated percentage is not meaningful. |
||||||
1 |
Franchise fees include fees from our franchise agreements, application and relicensing fees, timeshare and yacht fees, co-branded credit card fees, and |
||||||
residential branding fees. |
|||||||
2 |
Contract investment amortization includes amortization of capitalized costs to obtain contracts with our owner and franchisee customers, and any related |
||||||
impairments, accelerations, or write-offs. |
|||||||
3 |
Owned, leased, and other revenue includes revenue from the properties we own or lease, termination fees, and other revenue. |
||||||
4 |
Cost reimbursement revenue includes reimbursements from properties for property-level and centralized programs and services that we operate for the benefit of |
||||||
our hotel owners. Reimbursed expenses include costs incurred by Marriott for certain property-level operating expenses and centralized programs and services. |
|||||||
5 |
Owned, leased, and other - direct expenses include operating expenses related to our owned or leased hotels, including lease payments and pre-opening expenses. |
||||||
6 |
Depreciation, amortization, and other expenses include depreciation for fixed assets, amortization of capitalized costs incurred to acquire management, franchise, |
||||||
and license agreements, and any related impairments, accelerations, or write-offs. |
|||||||
7 |
General, administrative, and other expenses include our corporate and business segments overhead costs and general expenses. |
||||||
8 |
Gains and other income, net includes gains and losses on the sale of real estate, the sale of joint venture interests and other investments, and adjustments from |
||||||
other equity investments. |
|||||||
9 |
Equity in earnings (losses) include our equity in earnings or losses of unconsolidated equity method investments. |
|
||||||
CONSOLIDATED STATEMENTS OF INCOME - AS REPORTED |
||||||
FOURTH QUARTER YEAR-TO-DATE 2022 AND 2021 |
||||||
(in millions except per share amounts, unaudited) |
||||||
As Reported |
As Reported |
Percent |
||||
Twelve Months Ended |
Twelve Months Ended |
Better/(Worse) |
||||
|
|
Reported 2022 vs. 2021 |
||||
REVENUES |
||||||
Base management fees |
$ 1,044 |
$ 669 |
56 |
|||
Franchise fees 1 |
2,505 |
1,790 |
40 |
|||
Incentive management fees |
529 |
235 |
125 |
|||
Gross Fee Revenues |
4,078 |
2,694 |
51 |
|||
Contract investment amortization 2 |
(89) |
(75) |
(19) |
|||
Net Fee Revenues |
3,989 |
2,619 |
52 |
|||
Owned, leased, and other revenue 3 |
1,367 |
796 |
72 |
|||
Cost reimbursement revenue 4 |
15,417 |
10,442 |
48 |
|||
Total Revenues |
20,773 |
13,857 |
50 |
|||
OPERATING COSTS AND EXPENSES |
||||||
Owned, leased, and other - direct 5 |
1,074 |
734 |
(46) |
|||
Depreciation, amortization, and other 6 |
193 |
220 |
12 |
|||
General, administrative, and other 7 |
891 |
823 |
(8) |
|||
Restructuring, merger-related charges, and other |
12 |
8 |
(50) |
|||
Reimbursed expenses 4 |
15,141 |
10,322 |
(47) |
|||
Total Expenses |
17,311 |
12,107 |
(43) |
|||
OPERATING INCOME |
3,462 |
1,750 |
98 |
|||
Gains and other income, net 8 |
11 |
10 |
10 |
|||
Loss on extinguishment of debt |
- |
(164) |
100 |
|||
Interest expense |
(403) |
(420) |
4 |
|||
Interest income |
26 |
28 |
(7) |
|||
Equity in earnings (losses) 9 |
18 |
(24) |
175 |
|||
INCOME BEFORE INCOME TAXES |
3,114 |
1,180 |
164 |
|||
Provision for income taxes |
(756) |
(81) |
(833) |
|||
NET INCOME |
$ 2,358 |
$ 1,099 |
115 |
|||
EARNINGS PER SHARE |
||||||
Earnings per share - basic |
$ 7.27 |
$ 3.36 |
116 |
|||
Earnings per share - diluted |
$ 7.24 |
$ 3.34 |
117 |
|||
Basic Shares |
324.4 |
327.2 |
||||
Diluted Shares |
325.8 |
329.3 |
||||
1 |
Franchise fees include fees from our franchise agreements, application and relicensing fees, timeshare and yacht fees, co-branded credit card fees, and |
||||||
residential branding fees. |
|||||||
2 |
Contract investment amortization includes amortization of capitalized costs to obtain contracts with our owner and franchisee customers, and any related |
||||||
impairments, accelerations, or write-offs. |
|||||||
3 |
Owned, leased, and other revenue includes revenue from the properties we own or lease, termination fees, and other revenue. |
||||||
4 |
Cost reimbursement revenue includes reimbursements from properties for property-level and centralized programs and services that we operate for the benefit of |
||||||
our hotel owners. Reimbursed expenses include costs incurred by Marriott for certain property-level operating expenses and centralized programs and services. |
|||||||
5 |
Owned, leased, and other - direct expenses include operating expenses related to our owned or leased hotels, including lease payments and pre-opening expenses. |
||||||
6 |
Depreciation, amortization, and other expenses include depreciation for fixed assets, amortization of capitalized costs incurred to acquire management, franchise, |
||||||
and license agreements, and any related impairments, accelerations, or write-offs. |
|||||||
7 |
General, administrative, and other expenses include our corporate and business segments overhead costs and general expenses. |
||||||
8 |
Gains and other income, net includes gains and losses on the sale of real estate, the sale of joint venture interests and other investments, and adjustments from |
||||||
other equity investments. |
|||||||
9 |
Equity in earnings (losses) include our equity in earnings or losses of unconsolidated equity method investments. |
|
|||||||||||
NON-GAAP FINANCIAL MEASURES |
|||||||||||
($ in millions except per share amounts) |
|||||||||||
The following table presents our reconciliations of Adjusted operating income, Adjusted operating income margin, Adjusted net income, and Adjusted diluted earnings per share, to the most |
|||||||||||
Three Months Ended |
Twelve Months Ended |
||||||||||
Percent |
Percent |
||||||||||
|
|
Better/ |
|
|
Better/ |
||||||
2022 |
2021 |
(Worse) |
2022 |
2021 |
(Worse) |
||||||
Total revenues, as reported |
$ 5,923 |
$ 4,446 |
$ 20,773 |
$ 13,857 |
|||||||
Less: Cost reimbursement revenue |
(4,420) |
(3,374) |
(15,417) |
(10,442) |
|||||||
Add: Impairments 1 |
- |
- |
5 |
- |
|||||||
Adjusted total revenues ** |
1,503 |
1,072 |
5,361 |
3,415 |
|||||||
Operating income, as reported |
996 |
635 |
3,462 |
1,750 |
|||||||
Less: Cost reimbursement revenue |
(4,420) |
(3,374) |
(15,417) |
(10,442) |
|||||||
Add: Reimbursed expenses |
4,349 |
3,317 |
15,141 |
10,322 |
|||||||
Add: Restructuring, merger-related charges, and other |
1 |
- |
12 |
8 |
|||||||
Add: Impairments 2 |
- |
- |
5 |
11 |
|||||||
Adjusted operating income ** |
926 |
578 |
60 % |
3,203 |
1,649 |
94 % |
|||||
Operating income margin |
17 % |
14 % |
17 % |
13 % |
|||||||
Adjusted operating income margin ** |
62 % |
54 % |
60 % |
48 % |
|||||||
Net income, as reported |
673 |
468 |
2,358 |
1,099 |
|||||||
Less: Cost reimbursement revenue |
(4,420) |
(3,374) |
(15,417) |
(10,442) |
|||||||
Add: Reimbursed expenses |
4,349 |
3,317 |
15,141 |
10,322 |
|||||||
Add: Restructuring, merger-related charges, and other |
1 |
- |
12 |
8 |
|||||||
Add: Impairments 3 |
- |
- |
11 |
15 |
|||||||
Add: Loss on extinguishment of debt |
- |
- |
- |
164 |
|||||||
Less: Gains on investees' property sales 4 |
- |
- |
(23) |
- |
|||||||
Less: Gain on asset dispositions 5 |
- |
- |
(2) |
- |
|||||||
Income tax effect of above adjustments |
19 |
19 |
69 |
(17) |
|||||||
Less: Income tax special items |
- |
- |
30 |
(98) |
|||||||
Adjusted net income ** |
$ 622 |
$ 430 |
45 % |
$ 2,179 |
$ 1,051 |
107 % |
|||||
Diluted earnings per share, as reported |
$ 2.12 |
$ 1.42 |
$ 7.24 |
$ 3.34 |
|||||||
Adjusted diluted earnings per share** |
$ 1.96 |
$ 1.30 |
51 % |
$ 6.69 |
$ 3.19 |
110 % |
|||||
** |
Denotes non-GAAP financial measures. Please see pages A-15 and A-16 for information about our reasons for providing these alternative financial measures and the limitations on their use. |
|||||||||||
1 |
Twelve months ended |
|||||||||||
2 |
Twelve months ended |
|||||||||||
3 |
Twelve months ended |
|||||||||||
4 |
Gains on investees' property sales reported in Equity in earnings (losses). |
|||||||||||
5 |
Gain on asset dispositions reported in Gains and other income, net. |
|
||||||
TOTAL LODGING PRODUCTS |
||||||
As of |
||||||
US & |
|
Total Worldwide |
||||
Properties |
Rooms |
Properties |
Rooms |
Properties |
Rooms |
|
Managed |
632 |
215,331 |
1,357 |
345,220 |
1,989 |
560,551 |
|
104 |
57,534 |
169 |
52,624 |
273 |
110,158 |
Sheraton |
25 |
20,383 |
183 |
61,815 |
208 |
82,198 |
Courtyard |
168 |
27,063 |
112 |
24,007 |
280 |
51,070 |
Westin |
40 |
21,865 |
76 |
23,545 |
116 |
45,410 |
|
21 |
12,724 |
68 |
24,729 |
89 |
37,453 |
The Ritz-Carlton |
40 |
12,079 |
67 |
16,611 |
107 |
28,690 |
|
- |
- |
5 |
715 |
5 |
715 |
Renaissance |
24 |
10,607 |
54 |
17,327 |
78 |
27,934 |
Four Points |
1 |
134 |
84 |
23,267 |
85 |
23,401 |
Le Méridien |
1 |
100 |
72 |
20,119 |
73 |
20,219 |
|
23 |
6,516 |
38 |
10,246 |
61 |
16,762 |
|
- |
- |
1 |
160 |
1 |
160 |
|
76 |
12,199 |
9 |
1,116 |
85 |
13,315 |
|
25 |
6,770 |
27 |
4,956 |
52 |
11,726 |
St. Regis |
10 |
1,977 |
41 |
9,586 |
51 |
11,563 |
|
- |
- |
1 |
70 |
1 |
70 |
The Luxury Collection |
6 |
2,296 |
47 |
8,268 |
53 |
10,564 |
|
6 |
1,431 |
67 |
8,954 |
73 |
10,385 |
Aloft |
2 |
505 |
44 |
9,727 |
46 |
10,232 |
|
6 |
10,220 |
- |
- |
6 |
10,220 |
|
7 |
1,165 |
68 |
8,466 |
75 |
9,631 |
Autograph Collection |
8 |
2,508 |
22 |
3,356 |
30 |
5,864 |
|
- |
- |
1 |
158 |
1 |
158 |
|
- |
- |
34 |
4,866 |
34 |
4,866 |
SpringHill Suites |
25 |
4,241 |
- |
- |
25 |
4,241 |
EDITION |
5 |
1,379 |
10 |
2,216 |
15 |
3,595 |
Element |
3 |
810 |
13 |
2,551 |
16 |
3,361 |
|
- |
- |
25 |
3,081 |
25 |
3,081 |
Tribute Portfolio |
- |
- |
8 |
1,150 |
8 |
1,150 |
Moxy |
- |
- |
6 |
1,092 |
6 |
1,092 |
TownePlace Suites |
6 |
825 |
- |
- |
6 |
825 |
Bulgari |
- |
- |
5 |
442 |
5 |
442 |
Franchised |
5,121 |
735,470 |
907 |
179,319 |
6,028 |
914,789 |
Courtyard |
863 |
115,148 |
114 |
21,251 |
977 |
136,399 |
|
1,135 |
106,907 |
45 |
7,551 |
1,180 |
114,458 |
|
772 |
92,072 |
26 |
3,482 |
798 |
95,554 |
|
233 |
74,118 |
61 |
17,795 |
294 |
91,913 |
Sheraton |
147 |
46,238 |
71 |
20,680 |
218 |
66,918 |
SpringHill Suites |
507 |
58,773 |
- |
- |
507 |
58,773 |
Autograph Collection |
138 |
27,170 |
108 |
23,564 |
246 |
50,734 |
TownePlace Suites |
480 |
48,894 |
- |
- |
480 |
48,894 |
Westin |
91 |
30,818 |
27 |
7,858 |
118 |
38,676 |
Four Points |
158 |
23,924 |
63 |
10,602 |
221 |
34,526 |
Aloft |
154 |
22,077 |
22 |
3,607 |
176 |
25,684 |
Renaissance |
64 |
18,074 |
29 |
7,487 |
93 |
25,561 |
|
100 |
16,601 |
47 |
8,385 |
147 |
24,986 |
Moxy |
28 |
5,316 |
88 |
16,700 |
116 |
22,016 |
|
62 |
14,123 |
11 |
2,557 |
73 |
16,680 |
The Luxury Collection |
12 |
3,188 |
56 |
10,268 |
68 |
13,456 |
Tribute Portfolio |
51 |
7,952 |
28 |
3,185 |
79 |
11,137 |
Element |
79 |
10,586 |
2 |
269 |
81 |
10,855 |
Le Méridien |
24 |
5,605 |
18 |
4,640 |
42 |
10,245 |
|
12 |
6,072 |
11 |
2,714 |
23 |
8,786 |
|
10 |
1,385 |
40 |
3,469 |
50 |
4,854 |
|
- |
- |
35 |
2,706 |
35 |
2,706 |
The Ritz-Carlton |
1 |
429 |
- |
- |
1 |
429 |
|
- |
- |
1 |
246 |
1 |
246 |
Bulgari |
- |
- |
2 |
161 |
2 |
161 |
|
- |
- |
2 |
142 |
2 |
142 |
|
||||||
TOTAL LODGING PRODUCTS |
||||||
As of |
||||||
US & |
|
Total Worldwide |
||||
Properties |
Rooms |
Properties |
Rooms |
Properties |
Rooms |
|
Owned/Leased |
26 |
6,483 |
38 |
9,209 |
64 |
15,692 |
Courtyard |
19 |
2,814 |
4 |
894 |
23 |
3,708 |
|
2 |
1,308 |
6 |
2,064 |
8 |
3,372 |
Sheraton |
- |
- |
4 |
1,830 |
4 |
1,830 |
|
2 |
779 |
2 |
665 |
4 |
1,444 |
Westin |
1 |
1,073 |
- |
- |
1 |
1,073 |
|
- |
- |
5 |
912 |
5 |
912 |
Renaissance |
1 |
317 |
2 |
505 |
3 |
822 |
The Ritz-Carlton |
- |
- |
2 |
550 |
2 |
550 |
|
- |
- |
1 |
496 |
1 |
496 |
The Luxury Collection1 |
- |
- |
3 |
383 |
3 |
383 |
Autograph Collection2 |
- |
- |
5 |
361 |
5 |
361 |
|
1 |
192 |
1 |
140 |
2 |
332 |
Tribute Portfolio3 |
- |
- |
2 |
249 |
2 |
249 |
St. Regis |
- |
- |
1 |
160 |
1 |
160 |
Residences |
67 |
7,128 |
46 |
4,353 |
113 |
11,481 |
The |
40 |
4,396 |
14 |
1,135 |
54 |
5,531 |
St. Regis Residences |
10 |
1,196 |
11 |
1,490 |
21 |
2,686 |
W Residences |
10 |
1,089 |
7 |
547 |
17 |
1,636 |
Bulgari Residences |
- |
- |
5 |
514 |
5 |
514 |
Sheraton Residences |
- |
- |
2 |
282 |
2 |
282 |
|
3 |
266 |
1 |
9 |
4 |
275 |
|
- |
- |
2 |
246 |
2 |
246 |
The Luxury Collection Residences |
1 |
91 |
3 |
115 |
4 |
206 |
EDITION Residences |
3 |
90 |
- |
- |
3 |
90 |
Le Méridien Residences |
- |
- |
1 |
15 |
1 |
15 |
Timeshare* |
72 |
18,839 |
21 |
3,906 |
93 |
22,745 |
Yacht* |
- |
- |
1 |
149 |
1 |
149 |
Grand Total |
5,918 |
983,251 |
2,370 |
542,156 |
8,288 |
1,525,407 |
*Timeshare and Yacht counts are included in this table by geographical location. For external reporting purposes, these offerings are captured within "Unallocated corporate and other." |
||||||
1 Includes one property acquired when we purchased |
||||||
2 Includes four properties acquired when we purchased |
||||||
3 Includes two properties acquired when we purchased |
|
||||||
TOTAL LODGING PRODUCTS |
||||||
As of |
||||||
US & |
|
Total Worldwide |
||||
Total Systemwide |
Properties |
Rooms |
Properties |
Rooms |
Properties |
Rooms |
Luxury |
196 |
54,301 |
402 |
92,487 |
598 |
146,788 |
|
33 |
18,796 |
80 |
27,939 |
113 |
46,735 |
The Ritz-Carlton |
41 |
12,508 |
69 |
17,161 |
110 |
29,669 |
The |
40 |
4,396 |
14 |
1,135 |
54 |
5,531 |
|
- |
- |
5 |
715 |
5 |
715 |
The Luxury Collection1 |
18 |
5,484 |
106 |
18,919 |
124 |
24,403 |
The Luxury Collection Residences |
1 |
91 |
3 |
115 |
4 |
206 |
|
25 |
7,295 |
41 |
11,157 |
66 |
18,452 |
W Residences |
10 |
1,089 |
7 |
547 |
17 |
1,636 |
|
- |
- |
1 |
160 |
1 |
160 |
St. Regis |
10 |
1,977 |
42 |
9,746 |
52 |
11,723 |
St. Regis Residences |
10 |
1,196 |
11 |
1,490 |
21 |
2,686 |
|
- |
- |
1 |
70 |
1 |
70 |
EDITION |
5 |
1,379 |
10 |
2,216 |
15 |
3,595 |
EDITION Residences |
3 |
90 |
- |
- |
3 |
90 |
Bulgari |
- |
- |
7 |
603 |
7 |
603 |
Bulgari Residences |
- |
- |
5 |
514 |
5 |
514 |
Full-Service |
1,060 |
358,434 |
1,066 |
286,854 |
2,126 |
645,288 |
|
339 |
132,960 |
236 |
72,483 |
575 |
205,443 |
|
- |
- |
2 |
246 |
2 |
246 |
Sheraton |
172 |
66,621 |
258 |
84,325 |
430 |
150,946 |
Sheraton Residences |
- |
- |
2 |
282 |
2 |
282 |
Westin |
132 |
53,756 |
103 |
31,403 |
235 |
85,159 |
|
3 |
266 |
1 |
9 |
4 |
275 |
Autograph Collection2 |
146 |
29,678 |
135 |
27,281 |
281 |
56,959 |
|
- |
- |
1 |
158 |
1 |
158 |
Renaissance |
89 |
28,998 |
85 |
25,319 |
174 |
54,317 |
Le Méridien |
25 |
5,705 |
90 |
24,759 |
115 |
30,464 |
Le Méridien Residences |
- |
- |
1 |
15 |
1 |
15 |
|
87 |
20,893 |
38 |
7,513 |
125 |
28,406 |
Tribute Portfolio3 |
51 |
7,952 |
38 |
4,584 |
89 |
12,536 |
|
6 |
10,220 |
- |
- |
6 |
10,220 |
|
- |
- |
36 |
5,008 |
36 |
5,008 |
|
10 |
1,385 |
40 |
3,469 |
50 |
4,854 |
Limited-Service |
4,590 |
551,677 |
880 |
158,760 |
5,470 |
710,437 |
Courtyard |
1,050 |
145,025 |
230 |
46,152 |