Cross-border guests accounted for 14% of global room nights in the first quarter, a gain of about 100 basis points compared to the previous quarter but below 2019’s share of 19%.
至於境外旅客(→應指北美區以外者)佔今年第一季全球房晚數的14%，相較於去年第四季(2021年Q4)為正增長，但低於2019年同期的19%。
The first quarter marked Marriott’s best quarter for direct digital bookings, which were up 14% compared to the first quarter of 2019, Capuano said.
March RevPAR in the U.S. and Canada was within 4% of 2019 levels, Capuano said. Occupancy topped 68% in March and ADR was 6% over pre-pandemic levels.
萬豪集團執行長卡普阿諾表示，今年三月美加地區的平均客房收益與2019年同期水準差不到4%。至於平均住房率有68%之多，平均房價則是超過疫情前水準6%
“While the extent of RevPAR recovery still varies widely from city to city, overall progress during the quarter was widespread,” he said. “Across all chain scales as well as market types — that is primary, secondary and tertiary markets — RevPAR recovery saw meaningful improvement in March versus the fourth quarter.”
「雖然平均客房收益的恢復程度在各城市之間仍然差異很大，不過第一季的整體進展是全面的。在全集團及各規模市場(包括主要市場、二線市場及三線市場)，平均客房收益的復甦在今年三月已看到有意義的改善與轉好，若對照去年第四季的話。」
The luxury segment was the standout in the first quarter with ADR 27% above pre-pandemic levels, he said. Group demand grew sharply in the quarter, resulting in group RevPAR 16% below March 2019 levels, an improvement from being down 30% in the fourth quarter of 2021.
卡普阿諾接著說，萬豪集團今年第一季在奢華品牌區塊有相當不錯的表現，平均房價高於疫情前水準27%。至於團體客層的需求在今年第一季成長亮眼，使得團體所帶來的平均客房收益僅低於2019年3月的水準16%，相比2021年第四季低於2019年3月的水準30%，算是進步。
Group bookings are on pace for a meaningful improvement through the remainder of 2022, Capuano said. By the end of the first quarter, group revenue pace for the year was down in the high single-digit range compared to 2019.
團體訂房量將在2022年的剩餘時間以有意義的增長逐漸步入正軌。截至2022年第一季，與 2019 年同期相較，今年團體收益的增長速度下降，僅有高個位數(7%~9%)的程度。
“We also expect additional short-term bookings to further boost group revenues,” he said. “April was the eighth month in a row where in-the-year, for-the-year group bookings exceeded 2019 levels.”
「我們也期待有新增的短期訂房進一步推升團體客層的收益。今年4 月是連續第八個月全年團體訂房數超過 2019 年的水平。」
Business transient demand in the U.S. also gained momentum, Capuano said. Business transient room nights were down 10% to 15% in the quarter compared to 2021, which marked a sequential improvement from the previous quarter. Bookings from special corporate accounts have recovered slower than those from smaller-sized businesses, but special corporate new bookings strengthened in March and further advanced in April.
卡普阿諾表示，美國短期商務差旅的需求也有了動能。今年第一季的短期商務差旅房晚數雖較2021年同期下降10~15%，但同時也顯示從去年第四季起是連續正成長。來自特定合約公司的訂房量較小型公司的訂房量來得復原緩慢，不過特定合約公司的新訂房量在今年三月有增強，四月又更一步增長。
Internationally, Marriott made gains in RevPAR recovery in every region except Greater China, Capuano said. In the Middle East and Africa, RevPAR surpassed 2019 for the second straight quarter, led by strength in the United Arab Emirates with the World Expo in Dubai that ran for several months.
他接著說，以全球市場來看，萬豪集團在每個地區的平均客房收益都有增長，除了大中華區以外。中東與非洲地區的平均客房收益連續二季(2021第四季及2022第一季)超過2019年同期，因阿拉伯聯合大公 (酋長) 國所舉辦的杜拜 (迪拜) 世界博覽會為期長達數月(2021/10/01 ~ 2022/03/31)。
In Greater China, RevPAR dropped significantly with the lockdown of several major cities, including Shanghai late in the quarter, he said.
*筆者按：西安市，吉林市、長春市、深圳市、東莞市等也曾在第一季陸續封城。
Marriott is keeping a close eye on trends in Europe, Capuano said. Outside of Russia, the war in Ukraine has not affected demand yet and cancellations have been minimal. As all countries in the region have removed or reduced travel restrictions, bookings in Europe have accelerated for the spring and summer travel seasons.
卡普阿諾執行長表示，萬豪集團持續關注歐洲局勢。在俄羅斯之外，烏克蘭境內的戰爭尚未影響到歐洲其他地區的住宿需求，且訂房取消數量很少。另外，歐洲所有國家已逐步解除或減低旅遊禁令，歐洲的訂房數已因春夏旅遊旺季而加速增長。
The company has closed its corporate offices in Russia and paused all future hotel development and new openings, he said. There are currently 23 properties open in the country, and occupancies are modest. Marriott continues to evaluate its operations in Russia, which represent less than 1% of its global fees, he said.
他接著表示，萬豪集團已關閉俄羅斯境內的集團辦公室並暫停所有未來的境內的酒店開發及新酒店開幕。目前，萬豪集團在俄羅斯境內有23間酒店，而住房率尚可。再者，集團仍持續評估在該國的營運策略，因該國整體管銷費的收益不到全球佔比的1%。
“We are watching the horrific humanitarian crisis in Ukraine and neighboring countries with deep concern, and we’re doing what we can to help those impacted in the region,” he said. “I’m very proud of our teams that have been mobilizing to help those in need in numerous ways, including working with relief partners and housing refugees at Marriott properties in neighboring countries.”
「我們正持續觀察與密切關注烏克蘭境內與鄰近國家所發生駭人的人道危機，而我們正盡力協助歐洲當地深受影響的人們。我非常自豪我們的工作團隊持續機動性地以各種形式幫助亟待救授的人們，包含與當地的救濟機構、團體合作以及在鄰近國家的萬豪集團據點提供收容避難的服務。」
Marriott added approximately 11,800 rooms globally during the first quarter, according to the
earnings release. That includes approximately 5,300 rooms in international markets and more than 2,500 conversion rooms.
根據萬豪集團所公佈的2022年季報新聞稿，萬豪集團在今年第一季全球新增約11800間客房數。這其中包含國際市場中約莫5300間客房數，另有超過2500間客房數是來自於更換品牌的酒店據點。
By the end of the quarter, the company’s worldwide development pipeline totaled nearly 2,900 properties with more than 489,000 rooms. That includes approximately 20,800 rooms approved but not yet subject to signed contracts. Approximately 201,400 rooms in the pipeline were under construction as of the end of the quarter.
截至今年第一季為止，萬豪集團全球的新開發合作案總計近2900件，總客房數超過48.9萬間。其中約20800間客房的開發案是核可但尚未正式簽約，還有約20.14萬間客房的開發案則是在興建中。
Marriott’s development pipeline continues to grow each month, Capuano said. The company signed 124 deals globally through March, a new first quarter record.
卡普阿諾執行長表示，萬豪集團的新開發合作案每個月都持續增長中，單就今年三月，集團就簽下124件開發合作案，破了歷年第一季的記錄。
“Despite construction timelines having lengthened a bit so far this year due to supply chain disruptions and labor shortages, we expect openings to ramp up each quarter in 2022,” he said.
「既便目前新酒店的興建時程受產業供應鍊中斷及勞工短缺的影響而有些延長，我們期待2022年每季都能有新酒店開幕數的增長。」
The average construction timeline for limited-service properties is slightly more than two years, and the timeline for full-service hotels is longer, he said. Over the next four years, Marriott expects gross rooms growth to approach 5% with deletions of 1% to 1.5%, resulting in net rooms growth of 3.5% to 4%.
他接著說，「精選服務型酒店的平均工程期大約耗時二年多一點，而全服務型酒店的平均工程期則要再久一些。在未來五年內，萬豪集團預期的總客房數增長率約略是5%，再考量平均刪減變動部份的1%~1.5%，實際上的淨客房增長率會是3.5%~4%。」
Financing has started to ease, new-construction starts have ramped up in the industry during the quarter, Capuano said, noting that though those numbers are still below 2019 levels, the company is confident that it will return to pre-pandemic levels of mid-single-digit net rooms growth over the next several years.
「今年第一季所面對的財務負擔已開始減輕，而新開發案工程的動工已增加。」他補充說，「雖然目前所見的績效數據仍低於2019年的水準，但我們有信心在未來幾年內會回到疫情前的水準，即中個位數的淨客房增長率(即4%~6%)。」
By the Numbers (數據探討)
Marriott’s first quarter comparable systemwide constant dollar RevPAR grew by 96.5% worldwide compared to the first quarter of 2021, according to the earnings release. That breaks down to 99.1% in the U.S. and Canada and 88.5% in international markets.
根據萬豪集團所公佈財報顯示，若與2021年第一季度相比，在全集團可比定價美元的基礎上，今年同期的全球平均客房收益成長了 96.5%，至於單就美加地區則是相對增長了99.1%，而美加地區以外的全球市場則是88.5%
Compared to the first quarter of 2019, comparable systemwide constant-dollar RevPAR was down 19.4% worldwide. It was down 14.5% in the U.S. and Canada and 31.7% in international markets.
若將今年第一季與2019年同期相比，在全集團可比定價美元的基礎上，全球平均客房收益下降19.4%，而單就美加地區則是相對下滑14.5%，而美加地區以外的全球市場則是減少31.7%。
Marriott reported net income of $377 million, an improvement from the net loss of $11 million in the first quarter of 2021. It reported total revenue of almost $4.2 billion, an 81% year-over-year increase. Adjusted earnings before interest, taxes, depreciation and amortization totaled $759 million compared to $296 million in the first quarter of 2021.
萬豪集團的季報顯示淨收入為3.77億美金，相較於2021年同期的淨損1100萬美金是個改善狀況。同時財報也顯示總收益為近42億美金，意即81%的年度增長。調整後的息稅折舊攤銷前盈餘為7.59億美金，而2021年同期則是2.96億美金。
By the end of the quarter, Marriott’s net debt was $8.5 billion, which represents a total debt of $9.5 billion less cash and cash equivalents of $1 billion. By the end of 2021, its net debt was $8.7 billion, with total debt of $10.1 billion less cash and cash equivalents of $1.4 billion.
截至2022年第一季為止，萬豪集團的淨債務值為85億美金，意即總債務95億美金減去現金及現金等價物10億美金。至於截止2021年年底的淨債務值為87億美金，即總債務101億美金減去現金及現金等價物14億美金。
As of press time, Marriott’s stock was trading at $177.64, up 8.4% year to date. The NASDAQ Composite Index was down 21.4% for the same period.
截稿前，萬豪集團的股價為177.64美金，較年初上漲了8.4%，至於那斯達克綜合指數則是下跌21.4%。
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