Marriott International has posted a strong set of results for 2012, with full-year profits seeing double-digit growth.
The US hotel giant’s operating profits for last year jumped 17% to US$940 million, while net profits rose 20% to US$571m. Companywide revenues increased 8% to US$11.81 billion, driven by strong growth in emerging markets.
Globally, Marriott’s revenue per available room (revPAR) increased 5.9% to US$116 in 2012, but this growth was driven by hotels in Asia Pacific, where revPAR jumped 8.4% to US$97, and the Middle East & Africa, which increased 8.3% to US$82. The company added a net total of 83 properties in 2012, comprising 17,198 rooms. This increases its global portfolio to 3,801 hotels with 660,394 rooms.
Arne Sorenson, president & CEO of Marriott International, said he was “delighted” with the results.
“Worldwide international travel increased to record levels in 2012 while hotel supply growth was low in most markets around the world, especially in the US. Despite low levels of new construction in the industry and modest economic growth in some regions of the world, we added over 27,000 rooms to our worldwide system in 2012, increased our worldwide systemwide revPAR by six percent and increased room rates by four percent. Our development team had a record year, signing more than 57,000 new rooms and increasing our global development pipeline to nearly 130,000 rooms at year-end. To date in 2013, we’ve already signed over 9,000 rooms with nearly 90 percent of those in Asia,” Sorenson said.
Marriott now expects to increase its operating income further in 2013, with a forecast of between US$985m and US$1.06bn for the year, and the addition of 20-000-25,000 rooms.
