Marriott Expects Q4 Comparable RevPAR To Increase 4-6%

(RTTNews) - Marriott International, Inc. (MAR) announced that for the 2015 fourth quarter, the company expects worldwide comparable systemwide RevPAR to increase 4 to 6 percent on a constant dollar basis. Outside North America, the company expects comparable systemwide constant dollar RevPAR to increase 3 to 5 percent. For North America, the company expects comparable systemwide RevPAR will increase 5 to 7 percent on a constant dollar basis. Based on early fourth quarter transient RevPAR trends, North American RevPAR is likely to increase at the low end of the guided range.

For the fourth-quarter, Marriott expects earnings per share of $0.74 to $0.78. Total fee revenue is expected to range between $460 million to $470 million.

Marriott assumes full year 2015 fee revenue could total $1.876 billion to $1.886 billion, growth of 9 to 10 percent over 2014 fee revenue. The company expects 2015 full year EPS in the range of $3.12 to $3.16. The company expects full year 2015 adjusted EBITDA will total $1.729 billion to $1.749 billion, a 13 to 15 percent increase over the 2014.

Marriott expects investment spending in 2015 will total approximately $700 million to $800 million, including approximately $140 million for maintenance capital and approximately $135 million for the Delta transaction. Assuming this level of investment spending, more than $2.25 billion could be returned to shareholders through share repurchases and dividends, the company said.

For the 2015 third quarter, RevPAR for worldwide comparable systemwide properties increased 4.5 percent, or a 2.2 percent increase using actual dollars. In North America, comparable systemwide RevPAR increased 4.2 percent, or a 3.7 percent increase using actual dollars, in the third quarter of 2015.