MARRIOTT INTERNATIONAL REPORTS OUTSTANDING SECOND QUARTER 2022 RESULTS AND RESUMES SHARE REPURCHASES
- Second quarter 2022 comparable systemwide constant dollar RevPAR increased 70.6 percent worldwide, 66.1 percent in the
U.S. &Canada , and 87.8 percent in international markets, compared to the 2021 second quarter; - Second quarter 2022 comparable systemwide constant dollar RevPAR declined 2.9 percent worldwide and 14.1 percent in international markets, while RevPAR increased 1.3 percent in the
U.S. &Canada , compared to the 2019 second quarter; - Second quarter reported diluted EPS totaled
$2.06 , compared to reported diluted EPS of$1.28 in the year-ago quarter. Second quarter adjusted diluted EPS totaled$1.80 , compared to second quarter 2021 adjusted diluted EPS of$0.79 ; - Second quarter reported net income totaled
$678 million , compared to reported net income of$422 million in the year-ago quarter. Second quarter adjusted net income totaled$593 million , compared to second quarter 2021 adjusted net income of$260 million ; - Adjusted EBITDA totaled
$1,019 million in the 2022 second quarter, compared to second quarter 2021 adjusted EBITDA of$558 million ; - The company added roughly 17,000 rooms globally during the second quarter, including approximately 9,200 rooms in international markets and nearly 4,400 conversion rooms;
- At quarter end, Marriott's worldwide development pipeline totaled nearly 2,950 properties and more than 495,000 rooms, including roughly 27,400 rooms approved, but not yet subject to signed contracts. Approximately 203,300 rooms in the pipeline were under construction as of the end of the 2022 second quarter;
- Marriott resumed share repurchases in the second quarter, repurchasing 1.9 million shares of the company's common stock for
$300 million . Year-to-date throughJuly 29 , the company has repurchased 2.9 million shares for$448 million .
"In the
"
"On the development front, signing activity has accelerated in 2022, setting a second quarter record. We signed 23,000 rooms around the world in the second quarter, nearly 30 percent of which were conversions from competitor brands. Conversions continue to be a meaningful growth driver, comprising roughly 25 percent of room additions in the quarter.
"I am proud of the remarkable work our team has accomplished since the beginning of the pandemic. This has been the most challenging period in our company's history, but the resiliency of our associates and our business model have never been more evident. With our robust cash flow and profits, we resumed share repurchases during the second quarter, in addition to paying a cash dividend. Looking ahead, we are optimistic about our financial outlook and strong cash generation and expect to return more than
Second Quarter 2022 Results
Marriott's reported operating income totaled
Adjusted operating income in the 2022 second quarter totaled
Second quarter 2022 adjusted net income totaled
Adjusted results also 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 second quarter totaled
Interest expense, net, totaled
Equity in earnings/losses for the second quarter totaled
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled
Selected Performance Information
The company added 97 properties (16,917 rooms) to its worldwide lodging portfolio during the 2022 second quarter, including nearly 4,400 rooms converted from competitor brands and approximately 9,200 rooms in international markets. Twenty-five properties (3,661 rooms) exited the system during the quarter. At quarter end, Marriott's global lodging system totaled more than 8,100 properties, with over 1,500,000 rooms.
At quarter end, the company's worldwide development pipeline totaled 2,942 properties with more than 495,000 rooms, including 1,014 properties with approximately 203,300 rooms, or 41 percent of the pipeline, under construction and 197 properties with roughly 27,400 rooms approved for development, but not yet subject to signed contracts.
In the 2022 second quarter, worldwide RevPAR increased 70.6 percent (a 69.1 percent increase using actual dollars) compared to the 2021 second quarter. RevPAR in the
Balance Sheet
At quarter end, Marriott's net debt was
The company repurchased 1.9 million shares of common stock in the 2022 second quarter for
2022 Outlook
Third Quarter 2022 vs Third Quarter 2019 |
Full Year 2022 |
||
Comparable systemwide constant $ RevPAR |
|||
Worldwide |
flat to +3% |
-6% to -3% |
|
|
+1% to +4% |
-3% to flat |
|
International |
-3% to flat |
-13% to -10% |
|
Year-End 2022 |
|||
Gross Rooms Growth |
Approaching 5% |
||
Deletions1 |
1.5% to 2% |
||
Net rooms growth |
3% to 3.5% |
||
($ in millions, except EPS) |
Third Quarter 2022 |
Full Year 2022 |
|
Gross fee revenues |
|
|
|
Owned, leased, and other revenue, net of |
Approx. |
Approx. |
|
General, administrative, and other expenses2 |
|
|
|
Adjusted EBITDA3,4 |
|
|
|
Adjusted EPS - diluted4,5 |
|
|
|
Investment spending6 |
|
||
Capital return to shareholders7 |
More than |
1The increase in expected deletions compared to the company's prior expectation is due to the company's suspension of its operations in |
2 The change in expected expense compared to the company's prior expectation primarily reflects an increase in incentive compensation. |
3 See pages A-13 & A-14 for the adjusted EBITDA calculation. |
4 Adjusted EBITDA and Adjusted EPS – diluted for third quarter and full year 2022 do not include cost reimbursement revenue, reimbursed expenses, or restructuring, merger-related charges, and other expenses, which the company cannot accurately forecast, and which may be significant, and do not reflect any asset sales that may occur during the remainder of the year. Adjusted EPS – diluted for full year 2022 excludes impairments, gains on investees' property sales, and gains on asset dispositions reported in the first half of 2022. See page A-3 for the Adjusted EPS – diluted calculation for the first half of 2022. |
5 Assumes the level of capital return to shareholders noted above. |
6 Investment spending includes capital and technology expenditures, loan advances, contract acquisition costs, and other investing activities. The decline in expected investment spending compared to the company's prior expectation reflects lower maintenance capital spending. |
7 Assumes the level of investment spending noted above and no asset sales that may occur during the remainder of the year. |
The telephone dial-in number for the conference call is US Toll Free: 800-891-3968, or Global: +1 785-424-1675. The conference ID is MAR2Q22. 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
|
||
PRESS RELEASE SCHEDULES |
||
TABLE OF CONTENTS |
||
QUARTER 2, 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 - Third Quarter 2022 |
A-13 |
|
Adjusted EBITDA Forecast - Full Year 2022 |
A-14 |
|
Explanation of Non-GAAP Financial and Performance Measures |
A-15 |
|
|||||||
CONSOLIDATED STATEMENTS OF INCOME - AS REPORTED |
|||||||
SECOND QUARTER 2022 AND 2021 |
|||||||
(in millions except per share amounts, unaudited) |
|||||||
As Reported |
As Reported |
Percent |
|||||
Three Months Ended |
Three Months Ended |
Better/(Worse) |
|||||
|
|
|
|||||
REVENUES |
|||||||
Base management fees |
$ 269 |
$ 156 |
72 |
||||
Franchise fees 1 |
669 |
431 |
55 |
||||
Incentive management fees |
135 |
55 |
145 |
||||
Gross Fee Revenues |
1,073 |
642 |
67 |
||||
Contract investment amortization 2 |
(19) |
(18) |
(6) |
||||
Net Fee Revenues |
1,054 |
624 |
69 |
||||
Owned, leased, and other revenue 3 |
364 |
187 |
95 |
||||
Cost reimbursement revenue 4 |
3,920 |
2,338 |
68 |
||||
Total Revenues |
5,338 |
3,149 |
70 |
||||
OPERATING COSTS AND EXPENSES |
|||||||
Owned, leased, and other - direct 5 |
281 |
168 |
(67) |
||||
Depreciation, amortization, and other 6 |
49 |
50 |
2 |
||||
General, administrative, and other 7 |
231 |
187 |
(24) |
||||
Restructuring, merger-related charges, and other |
- |
3 |
100 |
||||
Reimbursed expenses 4 |
3,827 |
2,255 |
(70) |
||||
Total Expenses |
4,388 |
2,663 |
(65) |
||||
OPERATING INCOME |
950 |
486 |
95 |
||||
Gains and other income, net 8 |
2 |
5 |
(60) |
||||
Interest expense |
(95) |
(109) |
13 |
||||
Interest income |
6 |
7 |
(14) |
||||
Equity in earnings (losses) 9 |
15 |
(8) |
288 |
||||
INCOME BEFORE INCOME TAXES |
878 |
381 |
130 |
||||
(Provision) benefit for income taxes |
(200) |
41 |
(588) |
||||
NET INCOME |
$ 678 |
$ 422 |
61 |
||||
EARNINGS PER SHARE |
|||||||
Earnings per share - basic |
$ 2.06 |
$ 1.29 |
60 |
||||
Earnings per share - diluted |
$ 2.06 |
$ 1.28 |
61 |
||||
Basic Shares |
328.2 |
327.1 |
|||||
Diluted Shares |
329.5 |
329.1 |
|||||
1 |
Franchise fees include fees from our franchise agreements, application and relicensing fees, licensing fees from our timeshare, credit card programs, 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 |
|||||||
SECOND QUARTER YEAR-TO-DATE 2022 AND 2021 |
|||||||
(in millions except per share amounts, unaudited) |
|||||||
As Reported |
As Reported |
Percent |
|||||
Six Months Ended |
Six Months Ended |
Better/(Worse) |
|||||
|
|
Reported 2022 vs. 2021 |
|||||
REVENUES |
|||||||
Base management fees |
$ 482 |
$ 262 |
84 |
||||
Franchise fees 1 |
1,169 |
737 |
59 |
||||
Incentive management fees |
237 |
88 |
169 |
||||
Gross Fee Revenues |
1,888 |
1,087 |
74 |
||||
Contract investment amortization 2 |
(43) |
(35) |
(23) |
||||
Net Fee Revenues |
1,845 |
1,052 |
75 |
||||
Owned, leased, and other revenue 3 |
626 |
295 |
112 |
||||
Cost reimbursement revenue 4 |
7,066 |
4,118 |
72 |
||||
Total Revenues |
9,537 |
5,465 |
75 |
||||
OPERATING COSTS AND EXPENSES |
|||||||
Owned, leased, and other - direct 5 |
478 |
303 |
(58) |
||||
Depreciation, amortization, and other 6 |
97 |
102 |
5 |
||||
General, administrative, and other 7 |
439 |
398 |
(10) |
||||
Restructuring, merger-related charges, and other |
9 |
4 |
(125) |
||||
Reimbursed expenses 4 |
7,006 |
4,088 |
(71) |
||||
Total Expenses |
8,029 |
4,895 |
(64) |
||||
OPERATING INCOME |
1,508 |
570 |
165 |
||||
Gains and other income, net 8 |
6 |
6 |
- |
||||
Interest expense |
(188) |
(216) |
13 |
||||
Interest income |
11 |
14 |
(21) |
||||
Equity in earnings (losses) 9 |
17 |
(20) |
185 |
||||
INCOME BEFORE INCOME TAXES |
1,354 |
354 |
282 |
||||
(Provision) benefit for income taxes |
(299) |
57 |
(625) |
||||
NET INCOME |
$ 1,055 |
$ 411 |
157 |
||||
EARNINGS PER SHARE |
|||||||
Earnings per share - basic |
$ 3.21 |
$ 1.26 |
155 |
||||
Earnings per share - diluted |
$ 3.20 |
$ 1.25 |
156 |
||||
Basic Shares |
328.3 |
326.9 |
|||||
Diluted Shares |
329.8 |
329.0 |
|||||
1 |
Franchise fees include fees from our franchise agreements, application and relicensing fees, licensing fees from our timeshare, credit card programs, 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 directly comparable GAAP measure. Adjusted total revenues is used in the determination of Adjusted operating income margin. |
|||||||||||||
Three Months Ended |
Six Months Ended |
||||||||||||
Percent |
Percent |
||||||||||||
|
|
Better/ |
|
|
Better/ |
||||||||
2022 |
2021 |
(Worse) |
2022 |
2021 |
(Worse) |
||||||||
Total revenues, as reported |
$ 5,338 |
$ 3,149 |
$ 9,537 |
$ 5,465 |
|||||||||
Less: Cost reimbursement revenue |
(3,920) |
(2,338) |
(7,066) |
(4,118) |
|||||||||
Add: Impairments 1 |
- |
- |
5 |
||||||||||
Adjusted total revenues ** |
1,418 |
811 |
2,476 |
1,347 |
|||||||||
Operating income, as reported |
950 |
486 |
1,508 |
570 |
|||||||||
Less: Cost reimbursement revenue |
(3,920) |
(2,338) |
(7,066) |
(4,118) |
|||||||||
Add: Reimbursed expenses |
3,827 |
2,255 |
7,006 |
4,088 |
|||||||||
Add: Restructuring, merger-related charges, and other |
- |
3 |
9 |
4 |
|||||||||
Add: Impairments 1 |
- |
- |
5 |
||||||||||
Adjusted operating income ** |
857 |
406 |
111 % |
1,462 |
544 |
169 % |
|||||||
Operating income margin |
18 % |
15 % |
16 % |
10 % |
|||||||||
Adjusted operating income margin ** |
60 % |
50 % |
59 % |
40 % |
|||||||||
Net income, as reported |
678 |
422 |
1,055 |
411 |
|||||||||
Less: Cost reimbursement revenue |
(3,920) |
(2,338) |
(7,066) |
(4,118) |
|||||||||
Add: Reimbursed expenses |
3,827 |
2,255 |
7,006 |
4,088 |
|||||||||
Add: Restructuring, merger-related charges, and other |
- |
3 |
9 |
4 |
|||||||||
Add: Impairments 2 |
- |
- |
11 |
4 |
|||||||||
Less: Gains on investees' property sales 3 |
(13) |
- |
(21) |
||||||||||
Less: Gain on asset dispositions 4 |
(2) |
- |
(2) |
- |
|||||||||
Income tax effect of above adjustments |
23 |
16 |
14 |
3 |
|||||||||
Less: Income tax special items |
- |
(98) |
- |
(98) |
|||||||||
Adjusted net income ** |
$ 593 |
$ 260 |
128 % |
$ 1,006 |
$ 294 |
242 % |
|||||||
Diluted earnings per share, as reported |
$ 2.06 |
$ 1.28 |
$ 3.20 |
$ 1.25 |
|||||||||
Adjusted diluted earnings per share** |
$ 1.80 |
$ 0.79 |
128 % |
$ 3.05 |
$ 0.89 |
243 % |
|||||||
** |
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 |
Six months ended |
||||||||||||
2 |
Six months ended |
||||||||||||
ended |
|||||||||||||
3 |
Gains on investees' property sales reported in Equity in earnings (losses). |
||||||||||||
4 |
Gain on asset dispositions reported in Gains and other income, net. |
|
||||||
TOTAL LODGING PRODUCTS |
||||||
As of |
||||||
US & |
|
Total Worldwide |
||||
Units |
Rooms |
Units |
Rooms |
Units |
Rooms |
|
Managed |
633 |
216,227 |
1,327 |
337,992 |
1,960 |
554,219 |
|
108 |
58,565 |
189 |
55,188 |
297 |
113,753 |
|
- |
- |
1 |
154 |
1 |
154 |
Sheraton |
26 |
21,338 |
181 |
61,338 |
207 |
82,676 |
Courtyard |
169 |
27,259 |
108 |
23,421 |
277 |
50,680 |
Westin |
40 |
21,865 |
76 |
23,543 |
116 |
45,408 |
|
21 |
12,724 |
66 |
24,266 |
87 |
36,990 |
The Ritz-Carlton |
38 |
11,398 |
68 |
17,149 |
106 |
28,547 |
|
- |
- |
5 |
715 |
5 |
715 |
Renaissance |
24 |
10,607 |
56 |
17,476 |
80 |
28,083 |
Four Points |
1 |
134 |
80 |
22,336 |
81 |
22,470 |
Le Méridien |
1 |
100 |
70 |
19,524 |
71 |
19,624 |
|
22 |
6,262 |
38 |
10,236 |
60 |
16,498 |
|
- |
- |
1 |
160 |
1 |
160 |
|
76 |
12,199 |
9 |
1,116 |
85 |
13,315 |
St. Regis |
10 |
1,968 |
39 |
9,114 |
49 |
11,082 |
|
- |
- |
1 |
70 |
1 |
70 |
The Luxury Collection |
6 |
2,296 |
47 |
8,269 |
53 |
10,565 |
Aloft |
2 |
505 |
44 |
9,735 |
46 |
10,240 |
|
6 |
10,220 |
- |
- |
6 |
10,220 |
|
7 |
1,165 |
70 |
8,613 |
77 |
9,778 |
|
6 |
1,431 |
59 |
7,929 |
65 |
9,360 |
|
25 |
6,770 |
2 |
477 |
27 |
7,247 |
Autograph Collection |
8 |
2,508 |
18 |
2,579 |
26 |
5,087 |
|
- |
- |
34 |
4,866 |
34 |
4,866 |
SpringHill Suites |
25 |
4,241 |
- |
- |
25 |
4,241 |
EDITION |
4 |
1,207 |
10 |
2,216 |
14 |
3,423 |
|
- |
- |
27 |
3,296 |
27 |
3,296 |
Element |
2 |
640 |
12 |
2,273 |
14 |
2,913 |
Moxy |
- |
- |
5 |
887 |
5 |
887 |
TownePlace Suites |
6 |
825 |
- |
- |
6 |
825 |
Tribute Portfolio |
- |
- |
6 |
604 |
6 |
604 |
Bulgari |
- |
- |
5 |
442 |
5 |
442 |
Franchised |
5,065 |
728,380 |
831 |
169,136 |
5,896 |
897,516 |
Courtyard |
855 |
113,979 |
111 |
20,930 |
966 |
134,909 |
|
1,125 |
105,858 |
42 |
7,093 |
1,167 |
112,951 |
|
770 |
91,959 |
23 |
3,155 |
793 |
95,114 |
|
232 |
73,751 |
61 |
17,791 |
293 |
91,542 |
Sheraton |
153 |
47,828 |
70 |
20,238 |
223 |
68,066 |
SpringHill Suites |
499 |
57,771 |
- |
- |
499 |
57,771 |
TownePlace Suites |
475 |
48,424 |
- |
- |
475 |
48,424 |
Autograph Collection |
135 |
26,666 |
99 |
21,262 |
234 |
47,928 |
Westin |
91 |
30,818 |
26 |
7,717 |
117 |
38,535 |
Four Points |
157 |
23,761 |
62 |
10,336 |
219 |
34,097 |
Renaissance |
62 |
17,681 |
30 |
7,910 |
92 |
25,591 |
Aloft |
149 |
21,411 |
20 |
3,265 |
169 |
24,676 |
|
97 |
16,004 |
40 |
7,422 |
137 |
23,426 |
Moxy |
26 |
4,913 |
80 |
15,154 |
106 |
20,067 |
|
60 |
13,784 |
11 |
2,557 |
71 |
16,341 |
The Luxury Collection |
12 |
3,188 |
55 |
9,959 |
67 |
13,147 |
Element |
75 |
10,028 |
2 |
269 |
77 |
10,297 |
Tribute Portfolio |
45 |
7,019 |
24 |
3,020 |
69 |
10,039 |
Le Méridien |
24 |
5,548 |
17 |
4,419 |
41 |
9,967 |
|
13 |
6,247 |
11 |
2,714 |
24 |
8,961 |
|
- |
- |
34 |
2,636 |
34 |
2,636 |
|
9 |
1,313 |
10 |
1,062 |
19 |
2,375 |
The Ritz-Carlton |
1 |
429 |
- |
- |
1 |
429 |
Bulgari |
- |
- |
2 |
161 |
2 |
161 |
|
- |
- |
1 |
66 |
1 |
66 |
|
||||||
TOTAL LODGING PRODUCTS |
||||||
As of |
||||||
US & |
|
Total Worldwide |
||||
Units |
Rooms |
Units |
Rooms |
Units |
Rooms |
|
Owned/Leased |
26 |
6,483 |
38 |
9,199 |
64 |
15,682 |
Courtyard |
19 |
2,814 |
4 |
884 |
23 |
3,698 |
|
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 |
Autograph Collection1 |
- |
- |
6 |
576 |
6 |
576 |
The Ritz-Carlton |
- |
- |
2 |
550 |
2 |
550 |
|
- |
- |
1 |
496 |
1 |
496 |
The Luxury Collection2 |
- |
- |
4 |
417 |
4 |
417 |
|
1 |
192 |
1 |
140 |
2 |
332 |
St. Regis |
- |
- |
1 |
160 |
1 |
160 |
Residences |
66 |
6,935 |
42 |
3,691 |
108 |
10,626 |
The |
39 |
4,317 |
14 |
1,131 |
53 |
5,448 |
St. Regis Residences |
10 |
1,082 |
9 |
1,065 |
19 |
2,147 |
W Residences |
10 |
1,089 |
6 |
546 |
16 |
1,635 |
Bulgari Residences |
- |
- |
5 |
514 |
5 |
514 |
|
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 |
Sheraton Residences |
- |
- |
1 |
50 |
1 |
50 |
Le Méridien Residences |
- |
- |
1 |
15 |
1 |
15 |
Timeshare* |
72 |
18,839 |
20 |
3,862 |
92 |
22,701 |
Grand Total |
5,862 |
976,864 |
2,258 |
523,880 |
8,120 |
1,500,744 |
*Timeshare property and room counts are included on this table in their geographical locations. For external reporting purposes, these counts are captured within "Unallocated corporate and other." |
||||||
1 Includes five properties acquired when we purchased |
||||||
2 Includes two properties acquired when we purchased |
|
||||||
TOTAL LODGING PRODUCTS |
||||||
As of |
||||||
US & |
|
Total Worldwide |
||||
Total Systemwide |
Units |
Rooms |
Units |
Rooms |
Units |
Rooms |
Luxury |
192 |
53,167 |
395 |
91,130 |
587 |
144,297 |
|
34 |
18,971 |
78 |
27,476 |
112 |
46,447 |
The Ritz-Carlton |
39 |
11,827 |
70 |
17,699 |
109 |
29,526 |
The |
39 |
4,317 |
14 |
1,131 |
53 |
5,448 |
|
- |
- |
5 |
715 |
5 |
715 |
The Luxury Collection1 |
18 |
5,484 |
106 |
18,645 |
124 |
24,129 |
The Luxury Collection Residences |
1 |
91 |
3 |
115 |
4 |
206 |
|
24 |
7,041 |
40 |
10,901 |
64 |
17,942 |
W Residences |
10 |
1,089 |
6 |
546 |
16 |
1,635 |
|
- |
- |
1 |
160 |
1 |
160 |
St. Regis |
10 |
1,968 |
40 |
9,274 |
50 |
11,242 |
St. Regis Residences |
10 |
1,082 |
9 |
1,065 |
19 |
2,147 |
|
- |
- |
1 |
70 |
1 |
70 |
EDITION |
4 |
1,207 |
10 |
2,216 |
14 |
3,423 |
EDITION Residences |
3 |
90 |
- |
- |
3 |
90 |
Bulgari |
- |
- |
7 |
603 |
7 |
603 |
Bulgari Residences |
- |
- |
5 |
514 |
5 |
514 |
Full-Service |
1,056 |
359,345 |
1,005 |
277,086 |
2,061 |
636,431 |
|
342 |
133,624 |
256 |
75,043 |
598 |
208,667 |
|
- |
- |
2 |
246 |
2 |
246 |
|
- |
- |
1 |
154 |
1 |
154 |
Sheraton |
179 |
69,166 |
255 |
83,406 |
434 |
152,572 |
Sheraton Residences |
- |
- |
1 |
50 |
1 |
50 |
Westin |
132 |
53,756 |
102 |
31,260 |
234 |
85,016 |
|
3 |
266 |
1 |
9 |
4 |
275 |
Renaissance |
87 |
28,605 |
88 |
25,891 |
175 |
54,496 |
Autograph Collection2 |
143 |
29,174 |
123 |
24,417 |
266 |
53,591 |
Le Méridien |
25 |
5,648 |
87 |
23,943 |
112 |
29,591 |
Le Méridien Residences |
- |
- |
1 |
15 |
1 |
15 |
|
85 |
20,554 |
13 |
3,034 |
98 |
23,588 |
Tribute Portfolio |
45 |
7,019 |
30 |
3,624 |
75 |
10,643 |
|
6 |
10,220 |
- |
- |
6 |
10,220 |
|
- |
- |
35 |
4,932 |
35 |
4,932 |
|
9 |
1,313 |
10 |
1,062 |
19 |
2,375 |
Limited-Service |
4,542 |
545,513 |
838 |
151,802 |
5,380 |
697,315 |
Courtyard |
1,043 |
144,052 |
223 |
45,235 |
1,266 |
189,287 |
|
1,131 |
107,289 |
101 |
15,022 |
1,232 |
122,311 |
|
847 |
104,350 |
33 |
4,411 |
880 |
108,761 |
SpringHill Suites |
524 |
62,012 |
- |
- |
524 |
62,012 |
Four Points |
158 |
23,895 |
142 |
32,672 |
300 |
56,567 |
TownePlace Suites |
481 |
49,249 |
- |
- |
481 |
49,249 |
Aloft |
151 |
21,916 |
64 |
13,000 |
215 |
34,916 |
|
104 |
17,169 |
110 |
16,035 |
214 |
33,204 |
Moxy |
26 |
4,913 |
85 |
16,041 |
111 |
20,954 |
Element |
77 |
10,668 |
14 |
2,542 |
91 |
13,210 |
|
- |
- |
66 |
6,844 |
66 |
6,844 |
Timeshare* |
72 |
18,839 |
20 |
3,862 |
92 |
22,701 |
Grand Total |
5,862 |
976,864 |
2,258 |
523,880 |
8,120 |