Marriott International(MAR)2025-05-06 16:10Revenue Performance - In Q1 2025, worldwide RevPAR increased by 4.1%, driven by ADR growth of 2.9% and occupancy improvement of 0.7 percentage points compared to Q1 2024[51]. - In the U.S. & Canada, RevPAR rose by 3.3% in Q1 2025, primarily due to strong demand from group customers[52]. - Internationally, RevPAR grew by 5.9% in Q1 2025, with APEC showing the highest growth at 10.9%[53]. - In Greater China, RevPAR decreased by 1.6% in Q1 2025, primarily due to a 2.7% decline in ADR amid lower domestic demand[53]. Property and Development - The total number of properties increased to 9,463 with 1,718,542 rooms by the end of Q1 2025, reflecting a net addition of approximately 12,200 rooms[56]. - The development pipeline includes approximately 3,800 properties and over 587,000 rooms, with 42% under construction or conversion[58]. - The company expects full-year 2025 net rooms growth to approach 5%, including the citizenM brand acquisition[58]. Revenue Breakdown - Fee revenues for Q1 2025 totaled 1,210 million in Q1 2024, with base management fees rising by 4%[64]. - Franchise fees increased by 8% to 361 million in Q1 2025, a 1% increase from 222 million, or 5%, from 4,655 million in Q1 2025[67]. - Segment net fee revenues in the U.S. & Canada rose by 665 million in Q1 2024 to 121 million to 135 million, up from 1,355 million and 0.8 billion in Q1 2025, with a year-to-date total of 3.9 million shares for 64 million, or 39%, from 99 million in Q1 2025[72]. - Interest expense increased by 163 million in Q1 2024 to 192 million in Q1 2025, primarily due to higher debt balances[71]. - Segment profit in the U.S. & Canada grew by 19 million, or 3%, from 644 million in Q1 2025[74]. - The ratio of current assets to current liabilities was 0.5 to 1.0 at the end of Q1 2025, indicating significant borrowing capacity under the Credit Facility[81]. - The company expects to continue returning cash to stockholders through share repurchases and cash dividends[85].