The company expanded its global room count by roughly 17,200 in Q3 2023. Credit: Rhema Kallianpur/Unsplash.com.

Marriott International has recorded a net income of $752m in the third quarter (Q3) of 2023, marking an increase of 19.4% from $630m in the same quarter a year ago.

The adjusted diluted earnings per share for the latest quarter ending September 30, 2023, was $2.11, compared with $1.69 in the corresponding quarter of last year.

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Total revenue was $5.92bn in Q3 2023, as against $5.31bn in Q3 2022.

The total expenses for the latest quarter were $4.82bn, while it was $4.35bn in the corresponding quarter of last year.

The adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) was $1.14bn compared with $985m a year earlier.

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The comparable systemwide constant dollar revenue per available room (RevPAR) in Q3 2023 increased by 8.8% worldwide, 4.3% in the US and Canada and 21.8% in international markets compared to Q3 2022.

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Marriott International president and CEO Anthony Capuano said: “We are extremely pleased with our results in the quarter. Worldwide RevPAR grew 9% year over year, reflecting robust demand around the world.

“International RevPAR increased 22%, with particular strength in Asia Pacific. Both occupancy and rate contributed to global RevPAR gains in the third quarter and cross-border travel continued to rise.”

The company expanded its global room count by roughly 17,200 in Q3 2023, with about 13,000 rooms added in international markets and over 4,900 being conversion rooms.

For the full year 2023, the company expects its adjusted EBITDA to be between $4.57bn and $4.60bn, while its net room growth will range from 4.2% to 4.5%.