1、2 0 2 3 A N N UA L R E P O R TiLETTER TO STOCKHOLDERSAnthony CapuanoPresident and Chief Executive OfficerDear Stockholder,Marriott International experienced a banner year of growth in 2023,delivering more opportunities globally for our key stakeholders,including associates,guests,and owners and fran

2、chisees.The strong momentum in our business highlighted the true power and resiliency of travel.With nearly 8,800 properties across more than 30 leading brands in 139 countries and territories at year-end 2023,we are better positioned than ever to meet customer needs across all stay purposes around

3、the world.2023 Financial HighlightsWe reported fantastic results in 2023 as demand for travel and our industry-leading portfolio grew.Full year global revenue per available room(RevPAR)1 rose nearly 15 percent and net rooms grew 4.7 percent,the com-panys highest net rooms growth since 2019.Demand fo

4、r all types of travel remained strong,even as the rebound impact from the pandemic waned through-out the year.Group demand was again strong,and full year global group revenues rose 19 percent compared to 2022.In the business transient segment,demand from small-and medium-sized corporates remained ro

5、bust,and while large corporates were still lagging pre-pandemic levels,they continued to post year-over-year volume increases.Solid gains in both average daily rate(ADR)and room nights drove global business transient revenues 18 percent higher compared to 2022.1 Discussion of revenues across differe

6、nt customer segments refers to hotel-level revenues.All ADR,RevPAR and hotel revenue statistics are systemwide constant dollar.Unless otherwise stated,all changes refer to year-over-year changes for the comparable period.ADR,RevPAR and hotel revenue comparisons between 2023 and 2022 reflect properti