HighGravityDataMarriott International — Nov 4, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001628280-24-044831
Showing in the filing
Capital return to shareholders
“approximately $4.4 billion”
Period
FY2024
Measure
Company-defined measure
Source
Prose
All guidance in this release · 17
Group RevPAR growth for FY2024
“8 percent”
Net rooms growth for FY2024
“around 6.5 percent”
Annual general and administrative cost reduc… for FY2025
“$80 million to $90 million”
Capital return to shareholders for FY2024
“approximately $4.4 billion”
Comparable systemwide constant $ RevPAR grow… for Q4 FY2024
“2% to 3%”
Comparable systemwide constant $ RevPAR grow… for FY2024
“3% to 4%”
Gross fee revenues for Q4 FY2024
“$1,290 to $1,310”
Gross fee revenues for FY2024
“$5,126 to $5,146”
Owned, leased, and other revenue, net of dir… for Q4 FY2024
“Approx. $95”
Owned, leased, and other revenue, net of dir… for FY2024
“Approx. $346”
General, administrative, and other expenses for Q4 FY2024
“$275 to $265”
General, administrative, and other expenses for FY2024
“$1,060 to $1,050”
Adjusted EBITDA for Q4 FY2024
“$1,235 to $1,265”
Adjusted EBITDA for FY2024
“$4,930 to $4,960”
Adjusted EPS – diluted for Q4 FY2024
“$2.31 to $2.39”
Adjusted EPS – diluted for FY2024
“$9.19 to $9.27”
Investment spending for FY2024
“$1,100 to $1,200”
Exhibit 99.1 · the passage around this item
… earlier in the release
“With our asset light business model generating meaningful cash and our solid financial performance, we returned $3.7 billion to shareholders through share repurchases and dividends in the first nine months of the year, and now expect to return approximately $4.4 billion for the full year 2024.” Third Quarter 2024 Results Base management and franchise fees totaled $1,124 million in the 2024 third quarter, a 7 percent increase compared to base management and franchise fees of $1,054 million in the year-ago quarter. The increase is primarily attributable to RevPAR increases and unit growth, as well as higher residential and co-branded credit card fees. 2 Incentive management fees totaled $159 million in the 2024 third quarter, an 11 percent increase compared to $143 million in the 2023 third quarter . Managed hotels in international markets contributed roughly 70 percent of the incentive fees earned in the quarter. General, administrative, and other expenses for the 2024 third quarter totaled $276 million, compared to $239 million in the year-ago quarter. The year-over-year change largely reflects a $19 million operating guarantee reserve for a U.S. hotel, which was negotiated in connection with the company’s acquisition of Starwood, and an $11 million litigation reserve. Interest expense, net, totaled $168 million in the 2024 third quarter, compared to $139 million in the year-ago quarter. The increase was largely due to higher interest expense ass
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.