Marriott International — Nov 4, 2024 release

& Canada increased more than 2 percent compared to the year-ago quarter, with ADR up 2.3 percent. “Group remained the standout customer segment, with global group RevPAR rising 10 percent in the quarter and on pace to rise 8 percent for full year 2024. RevPAR for the business transient segment continued to grow nicely in the quarter, while leisure transient RevPAR was flat year over year, but still well ahead of pre-pandemic levels. “Given the breadth and depth of our portfolio and the meaningful benefits we deliver to owners and franchisees, demand for our brands remains strong. Through the first three quarters of 2024, we signed over 95,000 organic rooms, more than half of which are outside the U.S. & Canada. More than 40 percent of signed rooms are conversions, where we continue to have a lot of momentum, particularly with multi-unit opportunities. “Net rooms grew nearly 6 percent over the last four quarters, and our development pipeline reached a record 585,000 rooms at the end of September. Our teams remain keenly focused on expanding our industry leading global portfolio, and we now expect full year 2024 net rooms growth to be around 6.5 percent. “Our business momentum is excellent, and we continue to evolve our business to support our numerous global growth opportunities. To that end, we have undertaken a comprehensive initiative to enhance our effectiveness and efficiency across the company. At this p