Marriott International
anticipates higher than typical investment in customer-facing technology in 2023.
During its fourth quarter earnings call, Anthony Capuano, the company's CEO, says “product innovation and engagement with our members remain key focus areas, especially through investments in our Marriott Bonvoy app and other digital products.”
He adds that Marriott has seen gains from its digital platforms that are “highly profitable channels for our owners” and that mobile app users increased 32% year on year, digital room nights increased 27% year on year and digital revenue rose 41% year on year.
Later in the earnings call, Chief Financial Officer Leeny Oberg adds that the planned investment is “really a recognition that we view that the digital experience and the experience for our customers and for our associates on the systems that they interact with the company as being of critical importance over the next few years or really forever.”
She adds that work being carried out will “transform” the experience on the mobile app as well as for Marriott employees and how they interact with Bonvoy loyalty member guests.
Marriott reported net income of $673 million in Q4 2022 versus $468 million for Q4 2021. Adjusted EBITDA was $1 billion for the quarter up from $741 million for the same quarter in 2021.