Marriott says could return roughly $2.5B to shareholders in 2018
Expects to grow worldwide rooms by 7% gross, 5.5%-6% net in 2018. Expects to further reduce charge-out rates as company harmonizes loyalty program terms. Expects to introduce new credit cards in 2018. Says hotel owners can expect more cost savings in 2018. Sees North America RevPar up 1%-2% for FY18. Expects mid-single digit RevPar growth in Asia Pacific, low-single digit growth in Caribbean & Latin America, mid-single digit growth in Europe. Sees RevPar flat in Middle East & Africa and growth of 3%-5% for international. Says bullish about future. Sees mid-single digit RevPar growth for Asia Pacific, Caribbean & Latin America and Europe segments for Q1. Sees RevPar flat for Middle East & Africa in Q1. Sees International RevPar up 3%-5%, global RevPar up 1%-3% in Q1. Sees FY18 revenue $3.535B-$3.62B, EPS $5.11-$5.34, adjusted EBITDA $3.315B-$3.42B under new revenue standard. Says outlook excludes P&L impact of Avendra spending, merger-related costs, and timing of centralized programs and services. Says outlook assumes no further asset sales. Says could return roughly $2.5B to shareholders in 2018. Comments taken from Q4 earnings conference call.