After its year of greatest expansion, it expects to grow 5.5% in 2019 and raise RevPar up to 3%
Marriott International closed the year 2018 with a net profit of 1,907 million dollars (1,675.9 million euros), which is 31% more compared to the profits of the previous year in its second full year after its merger with Starwood, completed in 2015
The volume of business of the largest hotel group in the world amounted to 20,758 million dollars (18,238.8 million euros) in 2018, which represents a slight improvement of 1.4% over 2017.
In the last quarter, it almost tripled its profits with a profit of 317 million dollars (278.5 million euros), and added a turnover of 5,289 million dollars (4,647.6 million euros), 0.7% more .
Adjusted gross operating profit (Ebitda) was 3,473 million dollars (3,051 million euros), which represents an improvement of 9.8% over the previous year.
The operating result was 2,366 million dollars (2,078 million euros) in the last fiscal year, which implies a fall of 6%. The adjusted operating result improved by 13%.
For its part, the gross result before taxes was 2,345 million dollars (2,060 million euros) in 2018, a figure that represents a decrease of 21.3%.
As for costs, the hotel group reduced its expenses by 6% to total 18,392 million dollars (16,156.6 million euros).
During 2018, the revenue per available room (RevPar) grew by 1.9% on average, while the average occupancy reached 72% (0.2 percentage points less) and the average daily price (ADR) rose by 2.1. %.
In international business, RevPar grew by an average of 3.8%, with increases of 5.8% in Asia-Pacific, 5.5% in Europe, 8.6% in the Caribbean and Latin America, compared to the fall of 5.9% in the Middle East and Africa.
At the end of 2018, it has a record portfolio of 2,882 hotels for an offer of 478,000 rooms, including the 150 new properties under construction. In 2018, it added the record of 125,000 rooms.
Marriott’s net debt, which assumed Starwood’s debt, amounts to 9,347 million dollars (8,210 million euros), 13.4% more, and cash in cash of 316 million dollars (277.6 million euros) ), down 17.4% compared to 2017.
For the first quarter of 2019, the hotel company plans to increase its offer of rooms by 5.5%, and that its RevPar globally grow between 1% and 3% (+ 1% and + 2% in the United States) . The chain expects to increase its offer in new rooms by 5.5% for the whole year.
Marriott estimates that it will allocate 3,000 million dollars (2,635 million euros) to the remuneration of shareholders by repurchase of securities and dividends in 2019.
With this scale it expects to place its Ebitda adjusted between a range of 3,615 million to 3,715 million dollars (3,175.6 and 3,263 million euros), an increase of between 4% and 7%