Full Year Results Exceed Guidance: Bethesda-Based Marriott International Announces Sale of The Westin Washington D.C. City Center and $0.08 First Quarter 2025 Dividend
Bethesda, MD – Marriott International, Inc. (NASDAQ: MAR) reported full-year results that surpassed guidance, with adjusted earnings per share (EPS) coming in at $3.64 versus the previously announced guidance of $3.52. The company also announced the sale of The Westin Washington D.C. City Center hotel for $150 million, and declared a first quarter 2025 dividend of $0.08 per share.
Financial Highlights
The company’s fourth quarter 2024 adjusted EPS was $1.08, a significant improvement over the previous quarter’s $0.79. Revenue per available room (RevPAR) for the quarter was $125.81, a 13% increase compared to the same quarter in 2023. Total revenue for the quarter was $2.3 billion, up from $1.8 billion in Q4 2023. For the full year 2024, Marriott reported revenue of $9.1 billion, a 17% increase from the previous year.
Sale of The Westin Washington D.C. City Center
The Westin Washington D.C. City Center, a 332-room property, was sold to an affiliate of Starwood Capital Group for $150 million. The sale is expected to close in the first quarter of 2025. This sale is part of Marriott International’s strategy to recycle capital and reinvest in growth opportunities.
First Quarter 2025 Dividend
Marriott International also announced a first quarter 2025 dividend of $0.08 per share. This represents a 13% increase compared to the $0.07 per share dividend paid in the first quarter of 2024.
Impact on Individual Investors
The strong financial performance and dividend increase are positive signs for Marriott International’s shareholders. The sale of the Westin Washington D.C. City Center will also provide the company with additional capital to invest in growth opportunities and pay down debt.
- Strong financial results and dividend increase
- Capital recycling through the sale of The Westin Washington D.C. City Center
- Additional capital for growth opportunities and debt reduction
Impact on the World
The sale of The Westin Washington D.C. City Center is a positive sign for the hotel industry, indicating that there is continued demand for hotel assets. Marriott International’s strong financial performance is also a good indicator of the overall health of the global economy.
- Positive sign for the hotel industry
- Indication of the global economy’s overall health
Conclusion
Marriott International’s full-year results exceeded expectations, with strong revenue growth and a significant increase in adjusted EPS. The sale of The Westin Washington D.C. City Center and the subsequent reinvestment of capital into growth opportunities and debt reduction are positive signs for the company’s future. The strong financial performance and dividend increase are good news for shareholders, while the sale of the hotel is a positive sign for the hotel industry and the global economy as a whole.
The strong financial results and dividend increase are positive signs for Marriott International’s shareholders, as they indicate the company’s ability to generate significant cash flow. The sale of The Westin Washington D.C. City Center provides the company with additional capital to invest in growth opportunities and pay down debt. This strategy of capital recycling is essential for Marriott International to maintain its competitive position in the industry.
The strong financial performance is also a good indicator of the overall health of the global economy. The hotel industry, in particular, has shown resilience in the face of economic challenges, with demand for hotel assets remaining strong. The sale of The Westin Washington D.C. City Center is a positive sign for the industry, indicating that there is continued demand for hotel assets.
In conclusion, Marriott International’s strong financial performance, dividend increase, and sale of The Westin Washington D.C. City Center are positive signs for the company, its shareholders, and the hotel industry as a whole. These developments demonstrate Marriott International’s ability to generate cash flow, invest in growth opportunities, and adapt to changing market conditions.
