5 Replies Latest reply: Nov 3, 2013 10:47 AM by erc RSS

Arne Sorenson scheduled for CNBC today (10/31) 7:40 am ET

erc Platinum
Currently Being Moderated

Probably a brief discussion on quarterly earnings, but once again could provide insights into the future.

 

Hotel and resort operator Marriott International reported third-quarter results today after the markets closed, showing that it posted net revenues of $3.16 billion, a robust 15.8% increase from the $2.73 billion in the same period in the previous year, and well ahead of the $3.04 billion Capital IQ consensus estimate.

Net income came in at $160 million, or $0.52 per share, up 12% from $143 million, or $0.44 per share, in the same period in 2012, and $0.08 per share better than the CapIQ estimates of $0.44 per share.

Marriott benefited from an extra eight days in the quarter resulting from a shift in its fiscal year that saw Q3 2013 have 92 days compared to 84 days in the year-ago quarter. RevPar, however, is measured on a calendar quarter basis for comparability and was up 5.5% with average daily rate up 4.4%.

 

Revpar = Revenue per available room - as you can see, in spite of long time elite departures, Marriott like Ol' Man River, just keeps rolling on. Stock price down yesterday, but more as a result of profit taking, "buy on the rumor (of good earnings), sell on the news", it's near its 52 week high.

 

 

As we discussed in February, http://www.rewards-insiders.marriott.com/message/72958#72958 , long time Marriott loyalists are the tail of the dog as it relates to leverage, so we need to just buck up, trade ideas among ourselves for enhancing travel and of course, "Protect yourself at all times".

 

Congrats to tef6178 and his beloved Red Sox for getting to celebrate in their home field for the first time since 1918. Certainly the Curse of the Babe is dead (3 World Series victories since 2004). Now, how about the sports gods ending The Billy Goat curse and The Curse O Les Boulez?  (no complaining jerrycoin, pluto77, ssindc and I would have gladly traded places with you this year .

 

And one final note: take a look at the future Marriott Hotels reimagines travel with augmented reality - Mobile Marketer - Software and technology   oh my

(For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: Arne Sorenson scheduled for CNBC today (10/31) 7:40 am ET
    erc Platinum
    Currently Being Moderated

    Things are going just fine (deals are to be found in Egypt and Washington DC, which shows Marriott will deal will necessary). Midweek occupancy is back to pre-recession  (2007) peak.

    Future group bookings are up (14%) for next quarter, huge conference group bookings are coming back, just not as big as pre-recession (2005).

    Free wi-fi for gold and platinums only; Marriott still intends to charge for internet in the high end properties (why?, because, apparently they can - so if they can handle that, they certainly feel confident they can tighten up on perks and not feel a financial impact).


    And in summary, when asked for today's Halloween themed Squawk Box, Arne feels that none of his properties are haunted (or at least he hasn't heard of any).

     

    On the mobile marketing link above, once you get beyond the 32 second overview (jasper was ahead of his time), you will see a slate of videos, many about Marriott (some good ones on the JW in Indianapolis). One that really stood out for me was Arne Sorenson's interview on CCTV about their Asian development plans. When you listen to those numbers and when you hear Arne discuss the fact that five years ago only 1 million Chinese travelers went abroad and soon 100 million will, you can appreciate why, along with the current strong momentum in general and with the enormous growth in Asia, topics that we fret about in Insiders are relatively low on the impact radar. Keep on keepin' on Insiders .

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: Arne Sorenson scheduled for CNBC today (10/31) 7:40 am ET
    tef6178 Platinum 8 Reviews
    Currently Being Moderated

    erc:

     

    Thanks for the thought on my Red Sox....worst to first in a year! Amazing what a change it is to have the right manager and chemistry with the ball players. We had a big bash at the tef household for game 6 and had lots of Red Bird (St. Louis) fans who live in our neighborhood join us. If it had gone to a Game 7, the party would have moved to one of their houses. Thank goodness the Sox closed it out in Game 6! We all had a great time and we're all baseball enthusiasts so everyone enjoyed the fun! This was the third St. Louis/Boston World Series in my lifetime ('67, '04, '13) and the 'rubber' game in the matchup! Now Sox 2 series wins, Red Birds 1......

     

    Hey erc....how do you like the Nats new manager? Good choice?

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

    • Re: Arne Sorenson scheduled for CNBC today (10/31) 7:40 am ET
      erc Platinum
      Currently Being Moderated

      Our general feeling here among us self-appointed baseball cognoscenti, is that he'll be effective in making sure the youthful players focus on the fundamentals (supported by veterans like Werth) which cost a few games last year. Now, if we can keep them from running into walls, Gus Frerotte style, we may just have a winner.

      (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

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