Marriott shares slump as its record 2024 room growth doesn’t look like it’ll hold
Despite an earnings beat and a room count record in 2024, Marriott shares are down more than 5% today.
For 2025, the hotel is forecasting net room growth to come in lower than the 6.8% it saw last year (more than 123,000 rooms). Marriott’s expecting growth of around 4% to 5% this year.
Marriott operates more than 9,300 properties globally. Its loyalty program, Bonvoy, added about 31 million new members last year, growing to 228 million.
Like other major travel players, including Delta Air Lines, Marriott’s co-branded credit cards (chiefly with Chase and American Express) have turned into a big revenue driver: the chain said spending on its 33 cards saw a strong boost last year and the fees it charges banks rose 10%. This year, it anticipates slightly less.