The company posted “excellent” performance for the fourth quarter and full-year 2024, with global RevPAR up year over year for both periods
Feb 12, 2025
Marriott experienced robust performance growth in 2024, driven by strong travel demand across leisure, business transient, and group segments. According to CEO Anthony Capuano, this momentum is expected to continue in 2025. The company saw record-breaking development deals, expansion into new hospitality segments, and internal restructuring aimed at improving efficiency.
Key takeaways
- Leisure travel leads growth: Leisure travel accounted for 44% of global room nights in Q4, experiencing the fastest RevPAR growth of all segments, with a 6% increase globally and 4% in the U.S. and Canada;
- Business transient gains: Business transient travel comprised 33% of global room nights in Q4, with RevPAR rising 3% globally and 4% in the U.S. and Canada, driven by strong ADR gains;
- Record-high development pipeline: Marriott signed a record number of deals in 2024, bringing its development pipeline to over 577,000 rooms, with conversions making up a significant portion of signings and additions;
- Expansion into outdoor-focused lodging: The acquisition of Postcard Cabins and a partnership with Trailborn will lead to a new outdoor-focused hotel collection in 2025;
- Organizational restructuring: A corporate restructuring resulted in over 800 layoffs, with an aim to improve decision-making efficiency. Capuano noted optimism from both internal teams and franchise partners regarding these changes.
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