Released today, the Q4 results from Marriott International reveal that the company’s RevPAR grew 14.9% YOY to US $125.89 in the final three months of 2014.
The company also performed well in the region in terms of occupancy, which increased by 8.9 percentage points to 64.4% compared to the same period of 2013.
However average daily rate decreased by 0.9% to $195.48.
Over the 12 months to December 31, the company reported positive performance in the region, compared to the previous year.
RevPAR increased 8.1% to $112.26, while occupancy went up by 5.4 percentage points to 60.3%.
Average daily rate however, again saw a decline. It decreased by 1.6% to $186.19.
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At year-end 2014, the company’s worldwide development pipeline increased to nearly 240,000 rooms, including approximately 30,000 rooms approved, but not yet subject to signed contracts.
More than 46,000 rooms were added in 2014 including nearly 9,000 rooms converted from competitor brands and more than 10,000 rooms associated with the Protea transaction.
The company signed a record 100,000 rooms in 2014.
Worldwide, Marriott’s Q4 net income totalled $197 million, a 30% increase over 2013 net income.
For the full year 2015, Marriott expects its North American and worldwide comparable system-wide constant dollar RevPAR to increase 5-7%.
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