The group revealed its Q4 2017 results and is confident moving into the new year.
The fourth quarter of 2017 was “the icing on the cake” for a terrific year according to Arne Sorenson, Marriott International President and CEO.
He highlights strategic brand milestones: “We made great progress on the integration of Starwood capturing significant property and corporate overhead cost synergies […] We entered into a joint venture with Alibaba to better engage with Chinese customers and invested in PlacePass […] We also signed strategic new credit card agreements that will allow us to strengthen our customer offerings”.
The company declared adding over 76,000 rooms during 2017, including nearly 11,000 rooms converted from competitor brands and roughly 30,000 rooms in international markets.
Worldwide comparable systemwide constant dollar RevPAR increased by 4.6% in Q4 2017 (+3.9% in the North American region), by 3.1% for the full year 2017 (+2.1% in the North American region).
The adjusted EBITDA increased by 7% over the fourth quarter 2016.
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