What Marriott’s Key Metrics Suggest for 2017
Marriott’s RevPAR for 2Q17 rose 2.2% YoY in constant dollars across its worldwide properties. Its North America RevPAR rose 0.9% YoY in constant dollars.
Of the 28 analysts tracking Marriott, five (17.9%) have a “strong buy” recommendation, while nine (32.1%) have a “buy,” and 13 (46.4%) have a “hold.”
Marriott is now trading at a forward EV-to-EBITDA multiple of 15.5x, compared with its average historical valuation of 13.9x since January 2008.
In 2Q17, Marriott International’s (MAR) operating income grew 59% YoY (year-over-year) to $620 million.
Marriott (MAR) has entered into a joint venture agreement with China’s Alibaba Group (BABA) with an aim to provide a seamless travel experience in China.
In 2Q17, Marriott’s revenues grew 49% YoY to $5.8 billion, compared with $3.9 billion in 2Q16, due to higher fee revenues and RevPAR and room growth.
For 2Q17, Marriott beat analyst estimates for both revenues and EPS, reporting revenue of $5.8 billion, which represents a growth of 48.7% YoY.
According to a Reuters consensus of 28 analysts tracking Marriott (MAR), five analysts have a “strong buy” recommendation on the stock, and nine analysts have a “buy” recommendation on the stock.
Marriott (MAR) currently trades at a forward EV-to-EBITDA multiple of 15.6x.
Marriott (MAR) has a 16-year history of paying dividends. InterContinental Hotel Group (IHG) has also paid dividends since 2003.
Total debt on Marriott’s balance sheet increased from $3.8 billion at the end of 2014 to $4.1 billion at the end of 2015 and $8.2 billion at the end of 4Q16.
For fiscal 2017, Marriott’s EBITDA is expected to rise 44.3% to ~$3.1 billion.
For 2Q17, Marriott’s total fee revenues are expected to increase to $820 million–$835 million.
During the second quarter, Marriott (MAR) added 17,000 rooms, including 6,400 rooms internationally and 3,300 rooms from competitors.
Marriott (MAR) is scheduled to report its 2Q17 earnings on August 7. Analysts expect Marriott’s 2Q17 revenues to grow 43.7% year-over-year to $5.6 billion.
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