Marriott International, Inc. (MAR) Q4 2022 Earnings Call Transcript

Marriott International, Inc. (NASDAQ:MAR) Q4 2022 Earnings Conference Call February 14, 2023 8:30 AM ET

Company Participants

Jackie Burka - Investor Relations

Tony Capuano - President and Chief Executive Officer

Leeny Oberg - Chief Financial Officer and Executive Vice President, Business Operations

Conference Call Participants

Stephen Grambling - Morgan Stanley

Shaun Kelley - Bank of America

Joe Greff - JPMorgan

Robin Farley - UBS

Richard Clarke - Bernstein

Smedes Rose - Citi

Patrick Scholes - Truist Securities

Dori Kesten - Wells Fargo

David Katz - Jefferies

Bill Crow - Raymond James

Brandt Montour - Barclays

Chad Beynon - Macquarie

Operator

Good day, everyone and welcome to today’s Q4 2022 Earnings. [Operator Instructions] It is now my pleasure to turn the conference over to Ms. Jackie Burka.

Jackie Burka

Thank you. Good morning, everyone and welcome to Marriott’s fourth quarter 2022 earnings call. On the call with me today are Tony Capuano, our President and Chief Executive Officer; Leeny Oberg, our Chief Financial Officer and Executive Vice President, Business Operations; and Betsy Dahm, our Vice President of Investor Relations.

I will remind everyone that many of our comments today are not historical facts and are considered forward-looking statements under federal securities laws. These statements are subject to numerous risks and uncertainties as described in our SEC filings, which could cause future results to differ materially from those expressed in or implied by our comments. Statements in our comments and the press release we issued earlier today are effective only today and will not be updated as actual events unfold.

Please also note that, unless otherwise stated, our RevPAR occupancy and average daily rate comments reflect system-wide constant currency results for comparable hotels and include hotels temporarily closed due to COVID-19. RevPAR occupancy and ADR comparisons between 2022 and 2019 reflect properties that are defined as comparable as of December 31, 2022, even if they were not open and operating for the full year 2019 or they did not meet all the other criteria for comparable in 2019. Additionally, unless otherwise stated, all comparisons to pre-pandemic for 2019 are comparing the same time period in each year. You can find our earnings release and reconciliations of all non-GAAP financial measures referred to in our remarks today on our Investor Relations website.

And now, I will turn the call over to Tony.

Tony Capuano