Marriott backs FY23 adjusted EPS view $8.36-$8.65, consensus $8.61

Marriott will present the company’s three-year financial model through 2025 at its meeting with institutional investors and security analysts at the W South Beach in Miami Beach, Florida. In the presentation, the company will reiterate its 2023 outlook given in August and introduce two-year compounded annual growth rates (CAGRs) from 2023 to 2025 for certain key performance metrics. Marriott will outline its plan to add 230,000 to 270,000 net rooms over three years, expanding its global portfolio to nearly 1.8M rooms by year-end 2025. This represents a three-year CAGR for net rooms of 5% to 5.5%. In addition, the company’s model assumes global RevPAR growth at a two-year CAGR of 3% to 6% from 2023 to 2025, after rising 12% to 14% percent this year. “With global travel poised for continued robust growth, our strategy is to deliver the best brands and experiences for consumers, to attract and retain the most loyal guests and to be in more places around the world. These are our three paths to win,” said Anthony Capuano, President and Chief Executive Officer, Marriott International. “As consumers continue to prioritize travel and experiences, we are focused on transforming our technology platform while leveraging our powerful revenue engines and our leading Marriott Bonvoy loyalty program to connect people through the power of travel. With our extraordinary associates around the world, I am incredibly optimistic about Marriott’s future.”