HomeBusiness Travel NewsMarriott Hotels Sees 15% Rise in RevPAR; Expects Strong 2024

Marriott Hotels Sees 15% Rise in RevPAR; Expects Strong 2024

Marriott International closed out 2023 in strong fashion, posting a 7.2% year-on-year increase in RevPAR (revenue per available room) for the final three months of the year.

For the full year, the international hotel group saw RevPAR grow by 15%.

Fourth quarter earnings per share jumped to $2.87 per share, from $2.12 a year earlier.

Anthony Capuano, Marriott International President and Chief Executive, said: “Our team delivered excellent results in 2023, as demand for our industry leading portfolio of properties and offerings around the world continued to grow.  Full-year global RevPAR rose 15%, net rooms grew 4.7%, and our fee-driven, asset-light business model generated record levels of cash.”

“The power of our unparalleled Marriott Bonvoy loyalty program continues to increase, with 196 million members at year end.  We’ve continued to leverage our global portfolio and have expanded our co-brand credit card offerings, with 31 cards now across 11 countries. In 2023, global card spend increased a remarkable 11% over the prior year. In 2024, we expect another year of solid growth and significant shareholder returns.” 

Geoff Percival
Geoff Percival
Geoff has worked in business, news, consumer and travel journalism for more than 25 years; having worked for and contributed to the likes of The Irish Examiner, Business & Finance, Business Plus, The Sunday Times, The Irish News, Senior Times, and The Sunday Tribune.

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