Marriott International Inc. has announced that in the next 3 years it intends to open over 1,700 hotels worldwide, reward its shareholders with USD 11 billion, and reach a profit of USD 8.50/share.
During a meeting with investors, Marriott announced that by 2021 it will add between 275,000 and 295,000 hotel rooms to its portfolio, which will allow it to increase its revenue by USD 400 million in 2021.
At the same time, the company estimated a net profit between USD 7.65 and 8.50/share in 2021, above analysts’ estimates. Also in the next 3 years, Marriott intends to pay dividends between USD 1.9 and 2 billion and to buy back shares with a value between USD 7.6 and 9 billion.
Source: Profit
Frequently Asked Questions
How many hotels does Marriott plan to open?
Marriott International plans to open more than 1,700 hotels globally over the next three years.
What are Marriott’s financial targets for 2021?
The company expects a net profit of $7.65 to $8.50 per share and aims to increase revenue by $400 million.
How much capital will Marriott return to shareholders?
Marriott intends to return approximately $11 billion to shareholders through dividends and share buybacks by 2021.