Marriott (MAR) Reaches Agreement With Rappi in Latin America
Marriott International, Inc. MAR recently entered into an industry-first agreement with the multilatina technology company, Rappi, Inc., to enhance everyday earning and provide a superior travel experience for Marriott Bonvoy members and Rappi users.
The Collaboration allows Marriott Bonvoy members to link their Rappi and Marriott Bonvoy accounts, gaining exclusive benefits. This includes earning Bonvoy Points for qualifying Rappi purchases and additional advantages for Rappi Prime users.
With over 5.8 million users in the Caribbean and Latin America, Marriott Bonvoy has established itself as a prominent travel program. Through the collaboration with Rappi, Marriott aims to expand its reach and services to Rappi's extensive user base of over 30 million across nine Latin American countries, including Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, Mexico, Peru and Uruguay. This partnership showcases Marriott's commitment to innovative and tech-forward collaborations that meet the evolving needs of its guests, further solidifying its presence in the region.
More Focus on Expansion
Marriott is consistently trying to expand its worldwide presence and capitalize on the demand for hotels in international markets. The company plans to expand its global portfolio of luxury and lifestyle brands. At the end of first-quarter 2023, Marriott's worldwide development pipeline totaled 3,060 hotels, with approximately 502,000 rooms. Nearly 200,000 rooms were under construction. During the quarter, the company added 79 new properties (11.015 rooms) to its worldwide lodging portfolio.
The company is benefiting from its focus on expansion initiatives, digital innovation and the loyalty program. With nearly 177 million members globally, the company’s loyalty program Marriott Bonvoy plays a supporting hand in its marketing strategies.
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In the past six months, shares of Marriott International have increased 5.8% compared with the industry’s 3.5% rise. Earnings estimates for fiscal 2023 have increased to $8.39 per share from $7.77 in the past 30 days.
Zacks Rank & Other Key Picks
Marriott International currently carries a Zacks Rank #2 (Buy).
Some better-ranked stocks from the Zacks Consumer Discretionary sector are Royal Caribbean Cruises RCL and Bluegreen Vacations BVH and The Madison Square Garden Company MSGS
Royal Caribbean Cruises carries a Zacks Rank #1 (Strong Buy). RCL has a trailing four-quarter earnings surprise of 26.4%, on average. Shares of RCL have gained 42.2% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RCL’s 2023 sales and EPS indicates a rise of 48.3% and 161%, respectively, from the year-ago period’s levels.
Bluegreen Vacations carries a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 24.7%, on average. Shares of BVH have increased 11.1% in the past year.
The Zacks Consensus Estimate for BVH’s 2023 sales and EPS indicates a rise of 3.6% and 17.6%, respectively, from the year-ago period’s levels.
The Madison Square Garden Company carries a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 108.1%, on average. Shares of MSGS have increased 8.7% in the past year.
The Zacks Consensus Estimate for MSGS’s 2023 sales indicates a rise of 6.6% but EPS indicates a fall of 14.8%, from the year-ago period’s levels.
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Marriott International, Inc. (MAR) : Free Stock Analysis Report
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