Marriott International, Inc. (MAR) Q3 2022 Earnings Call Transcript

Marriott International, Inc. (NASDAQ:MAR) Q3 2022 Earnings Conference Call November 3, 2022 8:00 AM ET

Company Participants

Jackie McConagha - SVP, IR

Anthony Capuano - CEO & Director

Kathleen Oberg - CFO & EVP, Business Operations

Conference Call Participants

Shaun Kelley - Bank of America Merrill Lynch

Joseph Greff - JPMorgan Chase & Co.

Robin Farley - UBS

William Crow - Raymond James & Associates

Charles Scholes - Truist Securities

David Katz - Jefferies

Brandt Montour - Barclays Bank

Duane Pfennigwerth - Evercore ISI

Smedes Rose - Citigroup

Operator

Good day, everyone, and welcome to today's Marriott International's Third Quarter 2022 earnings. [Operator Instructions]. Please note, this call may be recorded. It is now my pleasure to turn today's program over to Jackie Burka, Senior Vice President of Investor Relations. Please go ahead.

Jackie McConagha

Thank you. Good morning, everyone, and welcome to Marriott's Third Quarter 2022 Earnings Call. On the call with me today are Tony Capuano, our 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 temporary closed due to COVID-19.

RevPAR occupancy and ADR comparisons between 2022 and 2019 reflect properties that are defined as comparable as of September 30, 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 prepandemic 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.