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MARRIOTT INTERNATIONAL INC /MD/ (MAR)

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Earnings summaries and quarterly performance for MARRIOTT INTERNATIONAL INC /MD/.

Research analysts who have asked questions during MARRIOTT INTERNATIONAL INC /MD/ earnings calls.

Brandt Montour

Brandt Montour

Barclays PLC

8 questions for MAR

Also covers: BALY, BYD, CCL +23 more
Conor Cunningham

Conor Cunningham

Melius Research

8 questions for MAR

Also covers: AAL, ABNB, ALGT +16 more
DK

David Katz

Jefferies Financial Group Inc.

8 questions for MAR

Also covers: AGS, BALY, BYD +36 more
SK

Shaun Kelley

Bank of America Merrill Lynch

8 questions for MAR

Also covers: BYD, CHDN, CHH +17 more
Stephen Grambling

Stephen Grambling

Morgan Stanley

8 questions for MAR

Also covers: BC, BYD, CHH +23 more
Richard Clarke

Richard Clarke

Bernstein

7 questions for MAR

Also covers: ABNB, H, HLT +2 more
Duane Pfennigwerth

Duane Pfennigwerth

Evercore ISI

6 questions for MAR

Also covers: AAL, AERO, ALGT +19 more
MB

Michael Bellisario

Robert W. Baird & Co.

6 questions for MAR

Also covers: AHT, APLE, BHR +11 more
RF

Robin Farley

UBS

6 questions for MAR

Also covers: CCL, CHH, CUK +17 more
SR

Smedes Rose

Citigroup

6 questions for MAR

Also covers: ADC, ALX, DEA +19 more
Ari Klein

Ari Klein

BMO Capital Markets

5 questions for MAR

Also covers: AMT, APLE, CCI +9 more
LD

Lizzie Dove

Goldman Sachs

5 questions for MAR

Also covers: CAR, CCL, CHH +13 more
PS

Patrick Scholes

Truist Financial Corporation

4 questions for MAR

Also covers: BYD, CCL, CHH +14 more
ED

Elizabeth Dove

Goldman Sachs

3 questions for MAR

Also covers: ARMK, CAR, CCL +12 more
CB

Chad Beynon

Macquarie

2 questions for MAR

Also covers: ACEL, AGS, AMC +31 more
DP

Daniel Politzer

Wells Fargo

2 questions for MAR

Also covers: BYD, CCL, CHDN +20 more
DP

Dan Politzer

Wells Fargo

2 questions for MAR

Also covers: BYD, CHDN, CHH +10 more
MP

Meredith Prichard Jensen

HSBC

2 questions for MAR

Also covers: CHH, H, HLT +3 more
TB

Trey Bowers

Wells Fargo & Company

2 questions for MAR

Also covers: CHDN, CHH, CZR +7 more
AK

Aryeh Klein

BMO Capital Markets

1 question for MAR

Also covers: APLE, CLDT, DLR +7 more
BR

Bennett Rose

Citigroup

1 question for MAR

Also covers: ADC, DRH, EPR +8 more
CS

Charles Scholes

Not Disclosed

1 question for MAR

Also covers: ABNB, CERT, CHH +8 more
DP

Dan Poulter

JPMorgan Chase & Co.

1 question for MAR

JG

Joseph Greff

JPMorgan Chase & Co.

1 question for MAR

Also covers: BYD, CHH, CZR +10 more
Kevin Kopelman

Kevin Kopelman

TD Cowen

1 question for MAR

Also covers: ABNB, BKNG, DESP +3 more
Steve Pizzella

Steve Pizzella

Deutsche Bank

1 question for MAR

Also covers: ACEL, BYD, CZR +7 more

Recent press releases and 8-K filings for MAR.

Marriott International issues $1.45 billion in senior notes
MAR
Debt Issuance
  • Marriott entered into a terms agreement with underwriters and issued $600 million 4.500% Series WW Notes due May 1, 2033 and $850 million 5.100% Series XX Notes due May 1, 2038, settling on February 20, 2026.
  • The Notes pay interest semi-annually on May 1 and November 1, commencing November 1, 2026, and may be redeemed at the company’s option prior to maturity under specified call provisions.
  • Net proceeds of approximately $1.425 billion will be used for general corporate purposes, including working capital, capital expenditures, acquisitions, share repurchases and debt repayment.
7 days ago
Omdia: China Mainland cloud infrastructure market grows 24% in Q3 2025
MAR
Revenue Acceleration/Inflection
  • China Mainland cloud infrastructure services market reached $13.4 billion in Q3 2025, up 24% YoY, marking a second consecutive quarter exceeding 20% growth.
  • Alibaba Cloud increased its market share to 36%, maintaining its leadership for nine consecutive quarters.
  • Huawei Cloud and Tencent Cloud held 16% and 9% of the market, respectively.
Feb 12, 2026, 12:21 AM
Marriott International reports Q4 2025 earnings and 2026 guidance
MAR
Earnings
Guidance Update
  • Global RevPAR increased 1.9% in Q4 and 2% for the full year, with the U.S. & Canada up 0.7% and international markets rising over 5%.
  • Q4 gross fee revenues rose 7% to $1.4 billion and adjusted EBITDA grew 9% to $1.4 billion; for 2025, gross fees were $5.4 billion (+5%) and adjusted EBITDA was $5.38 billion (+8%).
  • 2026 guidance: net rooms growth of 4.5%–5%, global RevPAR growth of 1.5%–2.5%, gross fee revenues of $5.9 billion–$5.96 billion (+8%–10%), adjusted EBITDA of $5.8 billion–$5.9 billion, and adjusted EPS growth of 13%–15%.
  • Shareholder returns: >$4 billion returned via dividends and buybacks in 2025; >$4.3 billion expected in 2026.
Feb 10, 2026, 1:30 PM
Marriott reports Q4 2025 earnings and 2026 outlook
MAR
Earnings
Guidance Update
New Projects/Investments
  • Q4 2025 total gross fee revenues grew 7% to $1.4 billion and adjusted EBITDA rose 9% to $1.4 billion; for FY 2025, gross fee revenues increased 5% to $5.4 billion, adjusted EBITDA was $5.38 billion (+8%), and adjusted EPS reached $10.02 (+7%).
  • Marriott Bonvoy added 43 million new members in 2025, lifting the loyalty base to 271 million, and the company signed a record 114 luxury deals while building a midscale pipeline of over 450 open and pipeline properties.
  • 2026 guidance calls for 4.5–5% net rooms growth, 1.5–2.5% global RevPAR growth, gross fee revenues of $5.9–5.96 billion (+8–10%), adjusted EBITDA of $5.8–5.9 billion (+8–10%), EPS growth of 13–15%, and over $4.3 billion of shareholder returns.
  • The company is deploying a multi-year technology transformation—upgrading property management, reservations, and loyalty platforms—and will roll out AI-powered natural language search on Marriott.com and the mobile app in H1 2026.
Feb 10, 2026, 1:30 PM
Marriott International reports Q4 2025 results and provides 2026 guidance
MAR
Earnings
Guidance Update
Share Buyback
  • Global portfolio reached 1.78 million rooms at year-end with a record 610 000-room pipeline; net room growth for 2026 is expected at 4.5%–5%.
  • Full-year 2025 global RevPAR rose 2%, led by international up 5% and U.S./Canada up 0.7%; Q4 RevPAR increased 1.9%, with APAC up 9% and EMEA up 7%.
  • Q4 2025 gross fee revenues grew 7% to $1.4 billion and Adjusted EBITDA rose 9% to $1.4 billion; full-year gross fee revenues were $5.4 billion (+5%) and adjusted EPS was $10.02 (+7%).
  • 2026 guidance includes 1.5%–2.5% global RevPAR growth, 8%–10% fee revenue increase to $5.9 billion–$5.96 billion, 8%–10% Adjusted EBITDA growth to $5.8 billion–$5.9 billion, and 13%–15% EPS growth.
  • Returned over $4 billion to shareholders in 2025 through dividends and buybacks; plans > $4.3 billion of capital returns in 2026.
Feb 10, 2026, 1:30 PM
Marriott reports Q4 results and issues FY2026 guidance
MAR
Earnings
Guidance Update
Share Buyback
  • Marriott reported Q4 revenue of $6.69 billion and adjusted EPS of $2.58, with global RevPAR up 1.9% and net rooms growth of over 4% for the year.
  • The company guided fiscal 2026 adjusted EPS of $11.32–$11.57, net room growth of 4.5–5%, investment spending of $1.0–$1.1 billion, and a tax rate near 26–26.5%.
  • Marriott’s asset-light, fee-driven model spans about 1.8 million rooms across ~30 brands, with 98% of rooms under managed or franchised contracts and 62% located in North America.
  • Management plans capital returns in excess of $4.3 billion, building on more than $4 billion returned to shareholders in 2025.
Feb 10, 2026, 12:16 PM
Marriott International reports Q4 2025 and full-year 2025 results
MAR
Earnings
Guidance Update
Share Buyback
  • Q4 reported diluted EPS of $1.65 and adjusted diluted EPS of $2.58; net income of $445 M and adjusted net income of $695 M
  • Worldwide RevPAR rose 1.9% in Q4 and 2.0% for full-year 2025; international RevPAR +6.1% (U.S. & Canada −0.1% in Q4)
  • Adjusted EBITDA of $1,402 M in Q4 (+9% YoY) and $5,383 M for FY 2025 (+8% YoY)
  • Returned over $4.0 B to shareholders in 2025 through dividends and repurchases; Q4 buybacks of 3.5 M shares for $1.0 B, and 12.1 M shares for $3.3 B in the full year
  • 2026 outlook: RevPAR growth of 1.5–2.5%, net rooms +4.5–5%, adjusted EBITDA +8–10%, and over $4.3 B of capital returns
Feb 10, 2026, 12:00 PM
Marriott International reports Q4 and FY2025 results
MAR
Earnings
Guidance Update
  • Fourth quarter RevPAR rose 1.9% worldwide (Intl +6.1%, U.S. & Canada –0.1%), and full-year RevPAR increased 2.0% globally (Intl +5.1%, U.S. & Canada +0.7%)
  • Reported diluted EPS was $1.65 (adjusted $2.58) in Q4; full-year diluted EPS of $9.51 (adjusted $10.02)
  • Reported net income for Q4 was $445 million (adjusted $695 million); FY net income $2,601 million (adjusted $2,742 million)
  • Returned over $4.0 billion to shareholders in 2025; 2026 outlook includes 1.5–2.5% RevPAR growth, 4.5–5% net rooms growth, 8–10% adjusted EBITDA growth, and > $4.3 billion of capital returns
Feb 10, 2026, 12:00 PM
Marriott expands portfolio with nearly 100,000 new rooms in 2025
MAR
M&A
New Projects/Investments
Guidance Update
  • Marriott added over 700 properties and nearly 100,000 rooms, achieving 4.3% net rooms growth in 2025 and grew its pipeline by ~5.7% to ~610,000 rooms.
  • Completed the acquisition of citizenM, adding 35 hotels and 9,000 rooms, and launched the Series by Marriott brand with 37 properties opened in India by end-2025.
  • Hilton added nearly 800 hotels (~100,000 rooms) for 6.7% net unit growth, signed over 1,000 hotels (~140,000 rooms), and has more than 3,700 hotels (~520,000 rooms) under development.
  • Hilton forecasts 6–7% net unit growth in 2026, noting roughly 20% of global rooms under construction will join its system and introducing Apartment Collection (bookable 1H 2026) and Outset Collection (>60 hotels in development).
Jan 26, 2026, 11:20 AM
Marriott International expands global footprint and signs record deals in 2025
MAR
M&A
New Projects/Investments
  • Marriott grew net rooms by 4.3% in 2025, adding over 700 properties and nearly 100,000 rooms.
  • Ended 2025 with approximately 610,000 rooms in the development pipeline (up 5.7% YoY) after signing nearly 1,200 organic deals (163,000 rooms).
  • Completed the acquisition of citizenM in July, integrating 35 hotels and nearly 9,000 rooms, and launched Series by Marriott with 37 properties (2,600 rooms) in India.
  • Broadened luxury and residential offerings with a record 114 luxury deals (15,301 rooms) and 55 branded residential deals, closing the year with 296 luxury pipeline hotels (~60,000 rooms) and 149 open residences.
Jan 26, 2026, 11:00 AM

Quarterly earnings call transcripts for MARRIOTT INTERNATIONAL INC /MD/.