Marriott Issues Outlook - Quick Facts

(RTTNews) - Marriott International, Inc. (MAR) announced, for full year 2016, the company expects standalone comparable systemwide RevPAR on a constant dollar basis will increase roughly 3 percent in North America, outside North America and worldwide. On a standalone basis, Marriott expects full year 2016 adjusted EBITDA could total $1.89 billion to $1.90 billion. On April 27, the company estimated full year adjusted EBITDA could total $1.90 billion to $1.97 billion.

For the 2016 third quarter, Marriott expects standalone comparable systemwide RevPAR on a constant dollar basis will increase 3 to 4 percent in North America, outside North America and worldwide. On a standalone basis, Marriott expects third quarter 2016 operating income could total $370 million to $375 million, a 9 to 11 percent increase compared to the 2015 third quarter, and adjusted EBITDA could total $476 million to $481 million, a 10 to 12 percent increase compared to the year-ago quarter.

For the 2016 fourth quarter, Marriott expects standalone comparable systemwide RevPAR on a constant dollar basis will increase 1 to 3 percent in North America, 3 to 4 percent outside North America and 2 to 3 percent worldwide. On a standalone basis, Marriott expects fourth quarter 2016 operating income could total $361 million to $371 million, a 16 to 20 percent increase compared to the 2015 fourth quarter, and adjusted EBITDA could total $461 million to $471 million, a 15 to 17 percent increase compared to the year-ago quarter.

Marriott's outlook does not include the impact of the pending Starwood acquisition.

For the second-quarter, North American comparable systemwide constant dollar RevPAR rose 3.2 percent. On a constant dollar basis, worldwide comparable systemwide RevPAR rose 2.9 percent. Adjusted EBITDA totaled $494 million in the quarter, an 8 percent increase over second quarter 2015 adjusted EBITDA.