Marriott International, Inc. ( MAR Quick Quote MAR - Free Report) provided an update on 2021 development progress. The company witnessed robust growth in 2021, and the trend is likely to continue in 2022 and beyond. At the end of 2021, the company had approximately 8,000 properties and nearly 1.48 million rooms in 139 countries and territories. At the end of 2021, the company had nearly 485,000 rooms in the development pipeline. In 2021, the company signed 599 agreements, representing roughly 92,000 rooms. More than half of the rooms are located outside of the United States and Canada. Last year, it added more than 86,000 rooms on a gross basis to its portfolio, up 3.9% year over year. Stephanie Linnartz, president of Marriott International, said “Our analysis of the prevalent trends in global development is particularly instructive as we continue to recover from this global pandemic. We have been focused on working closely with our valued community of owners and franchisees throughout these unprecedented times.” In 2021, the Zacks Rank #3 (Hold) company signed 40 luxury hotel deals, which represent more than 6,000 rooms. The company’s portfolio of luxury hotel rooms increased by 4.8%. In 2022, the company expects to debut more than 30 luxury hotels in 2022 in destinations from Mexico (The St. Regis Kanai Resort) and Portugal (W Algarve) to Australia (The Ritz-Carlton, Melbourne) and South Korea (JW Marriott Jeju Resort & Spa). Image Source: Zacks Investment Research Stock Performance
Shares of Marriott have gained 23.8% in the past year, compared with the
industry’s rally of 11.8%. The company has been benefiting from a continuous focus on expansion initiatives, digital innovation and loyalty program. It witnessed improved occupancies in Europe, owing to the reopening of international borders and the easing of travel restrictions. Meanwhile, Marriott is consistently trying to expand presence worldwide and capitalize on the demand for hotels in international markets. Key Picks
Some better-ranked stocks from the Zacks
Consumer Discretionary sector include Guess', Inc. ( GES Quick Quote GES - Free Report) , Crocs, Inc. ( CROX Quick Quote CROX - Free Report) and RCI Hospitality Holdings, Inc. ( RICK Quick Quote RICK - Free Report) . Guess sports a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 97%, on average. Shares of Guess have increased 1.8% in the past three months. You can see the complete list of today’s Zacks #1 Rank stocks here. The Zacks Consensus Estimate for GES’s 2022 sales and EPS suggests growth of 38.6% and 4,342.9%, respectively, from the year-ago period’s levels. Crocs flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 41.6%, on average. Shares of Crocs have surged 45.3% in the past year. The Zacks Consensus Estimate for CROX’s 2022 sales and EPS indicates a rise of 48.8% and 25.8%, respectively, from the year-ago period’s levels. RCI Hospitality sports a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 67.7%, on average. Shares of RCI Hospitality have soared 75.8% in the past year. The Zacks Consensus Estimate for RICK’s 2022 sales and EPS suggests growth of 34.9% and 22.1%, respectively, from the year-ago period’s levels.