Marriott International, Inc. reported its fourth quarter and full year 2012 results, including fourth quarter 2012 net income totaling $181 million, a 14 percent increase compared to fourth quarter 2011 adjusted net income.
“We were delighted with our 2012 results. Full year earnings per share grew 31 percent over 2011 adjusted levels to $1.72 and EBITDA increased 16 percent to over $1.1 billion. We also returned over $1.3 billion to shareholders through dividends and share repurchases," said Arne M. Sorenson, president and chief executive officer of Marriott International.
“Worldwide international travel increased to record levels in 2012 while hotel supply growth was low in most markets around the world, especially in the U.S. Despite low levels of new construction in the industry and modest economic growth in some regions of the world, we added over 27,000 rooms to our worldwide system in 2012, increased our worldwide systemwide REVPAR by 6 percent and increased room rates by 4 percent," Sorenson said.
"Our development team had a record year, signing more than 57,000 new rooms and increasing our global development pipeline to nearly 130,000 rooms at year-end. To date in 2013, we’ve already signed over 9,000 rooms with nearly 90 percent of those in Asia," Sorenson said.
“Twenty percent of our room additions in 2012 were conversions from other brands and 30 percent came from the acquisition of the Gaylord brand. Thirty percent of all new rooms were located in international markets. We are excited about our new brand platforms such as the Autograph Collection and EDITION. Now on four continents, the Autograph Collection has grown to nearly 40 hotels in less than three years, " according to Sorenson.
"We’ll soon open our London EDITION hotel and we have six more EDITIONs in our development pipeline. Today, our luxury brands, Ritz-Carlton, Ritz-Carlton Reserve, Bulgari, and JW Marriott, together with our luxury lifestyle brand, EDITION, have broad distribution with nearly 150 hotels and over 50,000 rooms," Sorenson said.
“Our unit growth is built on our strong brand portfolio fueled by outstanding marketing and service engines. In 2012, our award-winning Marriott Rewards program topped 40 million members and marriott.com booked over $8 billion in property-level revenue, making it one of the largest retail websites in the world," Sorenson reported.
“In January 2013, North American comparable company-operated REVPAR rose 8 percent. While this year is off to a strong start, we are providing a somewhat broader and more conservative range for 2013 REVPAR growth due to the potential effect on the travel industry of the impending federal budget sequestration," Sorenson said.
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