2024-02-13 11:41:03 ET
Marriott International, Inc. (MAR)
Q4 2023 Earnings Conference Call
February 13, 2024 08:30 A.M. ET
Company Participants
Jackie McConagha - SVP, IR
Anthony Capuano - President and CEO
Leeny Oberg - CFO and EVP, Development
Conference Call Participants
Joseph Greff - J.P. Morgan
Shaun Kelley - Bank of America
Smedes Rose - Citigroup
Richard Clarke - Sanford C. Bernstein
Stephen Grambling - Morgan Stanley
Chad Beynon - Macquarie Research
Brandt Montour - Barclays Bank
Kevin Kopelman - TD Cowen
Michael Bellisario - Robert W. Baird
David Katz - Jefferies
Patrick Scholes - Truist Securities
Robin Farley - UBS
Presentation
Operator
Good day, everyone and welcome to today's Marriott International Q4 2023 Earnings Call. At this time, all participants are in a listen-only mode. Later, you will have an opportunity to ask questions during the question-and-answer session. [Operator Instructions]. Please note this call is being recorded and I'll be standing by should you need any assistance. It is now my pleasure to turn today’s program over to Jackie McConagha.
Jackie McConagha
Thank you. Good morning everyone and welcome to Marriott's fourth quarter 2023 earnings call. On the call with me today are Tony Capuano, our President and Chief Executive Officer; Leeny Oberg, our Chief Financial Officer and Executive Vice President, Development; and Betsy Dahm, our Vice President of Investor Relations.
Before we begin, I would like to remind everyone that many of our comments today are not historical facts and are considered forward-looking statements under Federal Securities Laws. These statements are subject to numerous risks and uncertainties as described in our SEC filings, which could cause future results to differ materially from those expressed in or implied by our comments. Please also note that our discussion of revenues across different customer segments refer to property level revenues and unless otherwise stated, our RevPAR occupancy, ADR, and property level revenue comments reflect system-wide constant currency results for comparable hotels.
Statements in our comments and the press release we issued earlier today are effective only today and will not be updated as actual events unfold. You can find our earnings release and reconciliations of all non-GAAP financial measures referred to in our remarks today on our Investor Relations website. And now, I will turn the call over to Tony.
Anthony Capuano
Thank you Jackie and good morning everyone. Our team produced fantastic results in 2023. We continued to experience strong momentum in our business around the world thanks to solid demand for travel and our diverse portfolio of 30 plus leading brands. Full year of global RevPAR rose nearly 15% and net rooms grew 4.7% leading to excellent earnings and cash flow growth. ...
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Marriott International, Inc. (MAR) Q4 2023 Earnings Call Transcript