Anticipates an increase in revenue per available room (RevPar) of 2% worldwide by 2020
Marriott International recorded a net profit of 994 million dollars (892.99 million euros) in the first nine months of the year, which is 37% less than what it registered in the same period last year, said Tuesday hotel group.
The turnover of the hotel group stood at 15,601 million dollars (14,015.70 million euros), which represents 1% more compared to the first nine months of 2018.
The revenue per available room (RevPar) in the establishments operated by the company increased 1.3% in the first nine months, especially driven by demand in Asian markets. In North America, employment was 75.1%, with an increase in RevPar of 1%.
From January to September, the operating result before taxes was 1,526 million dollars (1,370.88 million euros), 22% less than in the same period of 2018. Costs amounted to 14,075 million dollars (12,644.30 million euros), 4% more.
Marriott reported earnings of 387 million dollars (347.66 million euros) in the third quarter, 23% less than what it obtained in the same period of 2018.
As pointed out by the president and CEO of Marriott International, Arne M. Sorenson, so far this year – until November 1 – they have already returned almost 2,300 million dollars (2,066.21 million euros) to The shareholders, although for the whole of 2019, the company expects that cash will be returned to the shareholders through dividends and repurchases of shares that could approach 3,000 million dollars (2,695.05 million euros).
In addition, Sorenson has detailed that earlier this year they launched their new Marriott Bonvoy loyalty program, to which more than 12 million customers have joined and «which provides significantly improved benefits for members, while leveraging the broad portfolio and the important hotel distribution. »
According to Sorenson, the company expects RevPar to increase 1% during the fourth quarter of 2019 worldwide.
For the whole of 2019, the company expects «the strong demand for our products to continue.» However, he has clarified that, compared to the forecast that the company provided on August 5, the estimate of gross commission income for the whole of 2019 largely reflects «a more modest growth of RevPar, since it includes the impact of recent protests in Hong Kong, and the unfavorable currency exchange.
As for 2020, RevPar is expected to increase 2% worldwide, with a 1% increase in North America.