Full Year Highlights: - Record Full Year 2005 earnings per share totaled $2.89, up 17 percent from 2004; - Full year management and franchise fee revenue exceeded $1 billion in 2005, 18 percent over the prior year and surpassing the previous peak reached in 2000; - Incentive fees totaled $201 million during the year, 42 percent higher than 2004 levels. Approximately 50 percent of managed hotels generated incentive fees during 2005 compared to 32 percent in 2004; - Full year 2005 worldwide systemwide comparable revenue per available room (REVPAR) rose 10.4 percent (9.9 percent using constant dollars) and worldwide company-operated house profit margins increased 180 basis points during the year; - In North America, company-operated comparable REVPAR rose 9.8 percent during 2005 and house profit margins rose 160 basis points; Property- level EBITDA margins for comparable North American company-operated properties, calculated as if wholly owned, increased 200 basis points; - Internet sales totaled $3.2 billion in 2005, 42 percent over 2004 levels. Nearly 85 percent of internet sales were booked on Marriott.com; - Approximately 22,000 rooms opened in 2005, including nearly 9,000 full- service rooms under the Marriott Hotels & Resorts, Renaissance Hotels & Resorts and The Ritz-Carlton brands. Twenty-seven percent of total room openings were conversions from competitor brands. In addition, nearly 9,000 rooms franchised under Marriott flags converted to Marriott management during the year; - At the close of the year, worldwide rooms approached the one-half million mark with a pipeline of over 70,000 rooms worldwide under construction, awaiting conversion, or approved for development; - Marriott returned a record $1.65 billion to shareholders through the repurchase of nearly 26 million shares of the company's common stock in 2005, $1 billion more than in the prior year; - Marriott recycled more than $1.4 billion of capital in 2005, generating cash proceeds through notes receivable repayments and asset sales, including the sale of timeshare notes. At year-end, Marriott's notes receivable balance, excluding timeshare notes, totaled $333 million compared to $942 million at year-end 2004; - Adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) was approximately $1,270 million in 2005, a 15 percent increase over 2004. Fourth Quarter Highlights: - Record fourth quarter 2005 earnings per share totaled $1.07, up 35 percent from the fourth quarter of 2004; - Fourth quarter management and franchise fee revenue rose 19 percent over the prior year. Thirty-five percent of managed hotels generated incentive fees during the quarter compared to 31 percent in the prior year's quarter; - Worldwide systemwide comparable revenue per available room rose 11.2 percent (11.0 percent using constant dollars) and worldwide company- operated house profit margins increased 210 basis points during the quarter. Property-level EBITDA margins for comparable North American company-operated properties, calculated as if wholly owned, increased 250 basis points; - Nearly 6,000 rooms opened during the fourth quarter including the 366- room Grand Cayman Ritz-Carlton and 1,600 rooms converted from competitor properties; - Cash proceeds generated by notes receivable repayments and asset sales, including the sale of timeshare notes, totaled $587 million and share repurchases totaled $334 million.
Feb 03, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Marriott International, Inc. (NYSE: MAR) today announced that its board of directors has declared a quarterly cash dividend of ten and one half cents per share of common stock. The dividend is payable April 28, 2006 to shareholders of
WASHINGTON, Jan 05, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Marriott International, Inc. (NYSE: MAR) will conduct its 2005 fourth quarter earnings review for the investment community and news media on Thursday, February 9, 2006, at 10 a.m. Eastern Time (ET).
WASHINGTON, Nov 08, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Marriott International, Inc. (NYSE: MAR) (the "Company") today announced the expiration of its offers to exchange its 5.81% Series G Notes due November 10, 2015 (the "New Notes") for up to $293,890,000 of its 7% Series E
WASHINGTON, Nov 03, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Marriott International, Inc. (NYSE: MAR) today announced the pricing for its current offers to exchange a new series of Senior Notes due November 10, 2015 (the "New Notes") for up to $293,890,000 of its 7% Series E Notes due
WASHINGTON, Nov 03, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Marriott International, Inc. (NYSE: MAR) today announced that its board of directors has declared a quarterly cash dividend of ten and one half cents per share of common stock. The dividend is payable Jan.
WASHINGTON, Oct 25, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Marriott International, Inc. (NYSE: MAR) today announced the expiration of the early participation period in connection with its offer to exchange a new series of Senior Notes due November 10, 2015 (the "New Notes") for up
WASHINGTON, Oct 21, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- John W. Marriott III, executive vice president -- lodging of Marriott International, Inc. (NYSE: MAR) announced today that he will leave the company in January 2006 to serve as chief executive officer of J.W.M.
WASHINGTON, Oct 20, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Marriott International, Inc. (NYSE: MAR) today announced that it has modified its offers to exchange a new series of Senior Notes due November 10, 2015 (the "New Notes") for up to $293,890,000 of its 7% Series E Notes due
