- Third quarter 2026 RevPAR1 increased 6.5 percent worldwide, with 7.4 percent growth in the U.S. & Canada and 4.4 percent growth in international markets

- Third quarter reported diluted EPS totaled $3.04 and Adjusted diluted EPS totaled $3.02

- Third quarter reported net income totaled $794 million and Adjusted net income totaled $790 million

- Third quarter Adjusted EBITDA totaled $1,512 million

- The company added roughly 20,100 net rooms globally during the quarter and net rooms grew 4.6 percent from the end of the third quarter of 2025

- At the end of the quarter, Marriott's worldwide development pipeline reached a new record and totaled over 4,200 properties and more than 634,000 rooms, with 44 percent of pipeline rooms under construction including hotels that are pending conversion

- The company repurchased 3.5 million shares of common stock for $1.3 billion in the 2026 third quarter. Year-to-date through October 28, the company has returned approximately $4.0 billion to shareholders through dividends and share repurchases

For a summary of third quarter 2026 highlights, please visit: https://news.marriott.com/static-assets/component-resources/newscenter/earnings/2026/2026-q3-earnings-infographic.pdf.

BETHESDA, Md., Nov. 2, 2026 /PRNewswire/ -- Marriott International, Inc. (Nasdaq: MAR) today reported third quarter 2026 results.

Anthony Capuano, President and Chief Executive Officer, said, "Our excellent third quarter results reflected continued momentum across our business, the benefits of our global scale, and the power of our brands and revenue engines. Global RevPAR increased 6.5 percent in the third quarter, on higher ADR and occupancy. In the U.S. & Canada, RevPAR rose over 7 percent, with broad-based growth across customer segments and chain scales.

"International RevPAR increased over 4 percent in the quarter, led by APEC, which delivered over 9 percent RevPAR growth, supported by robust international inbound demand. EMEA RevPAR rose over 4 percent, thanks to solid growth in Europe. While the ongoing conflict in the Middle East continued to impact results in that region, trends improved meaningfully from the second quarter. For full year 2026, given our strong third quarter performance and expectations for continued healthy demand, we are raising our global RevPAR outlook and now expect growth of 4.5 to 5 percent.

"Our development activity remained strong, and we had record global organic signings year to date through September. Conversions continued to be an important driver of growth, representing over a third of signings and over 40 percent of openings during the first nine months of the year.

"Marriott Bonvoy continued to expand its reach and deliver value to our owners and properties and across the enterprise. Our broad portfolio of brands and experiences and powerful collaborations with Uber, Starbucks and others helped drive membership to approximately 309 million members around the world at quarter-end.

"Our global scale, compelling portfolio of brands, industry-leading Marriott Bonvoy loyalty program and dedicated associates, together with our robust development pipeline and disciplined execution, give us confidence in our ability to deliver sustainable, long-term growth."

Third Quarter 2026 Results

Franchise and base management fees totaled $1,341 million in the 2026 third quarter, a 13 percent increase compared to franchise and base management fees of $1,190 million in the year-ago quarter. The increase was primarily driven by higher co-branded credit card fees, higher RevPAR and rooms growth.

Incentive management fees totaled $181 million in the 2026 third quarter, a 22 percent increase over $148 million in the 2025 third quarter. All regions posted positive growth year over year, with incentive fees in the U.S. & Canada up meaningfully.

Owned, leased, and other revenue, net of owned, leased, and other expense2, totaled $41 million in the 2026 third quarter, compared to $70 million in the 2025 third quarter. The decline reflected lower owned and leased hotel results, including the impact of renovations and our 2026 second quarter sale of a U.S. & Canada hotel, and higher costs associated with a third-party agreement, partially offset by a $12 million expected insurance recovery associated with the 2026 second quarter property-related litigation matter ($9 million after-tax impact and $0.03 per share after-tax).

General and administrative expenses2 for the 2026 third quarter totaled $214 million, compared to $210 million in the year-ago quarter.

Interest expense, net, totaled $219 million in the 2026 third quarter, compared to $194 million in the year-ago quarter. The increase was primarily due to higher interest expense associated with higher debt balances.

In the 2026 third quarter, the provision for income taxes totaled $266 million, flat compared to the year-ago quarter.

Marriott's reported operating income totaled $1,274 million in the 2026 third quarter, compared to 2025 third quarter reported operating income of $1,180 million. Reported net income totaled $794 million in the 2026 third quarter, a 9 percent increase compared to 2025 third quarter reported net income of $728 million. Reported diluted earnings per share (EPS) totaled $3.04 in the quarter, compared to reported diluted EPS of $2.67 in the year-ago quarter.

Adjusted operating income in the 2026 third quarter totaled $1,267 million, compared to 2025 third quarter Adjusted operating income of $1,119 million. Third quarter 2026 Adjusted net income totaled $790 million, compared to 2025 third quarter Adjusted net income of $674 million. Adjusted diluted EPS in the 2026 third quarter totaled $3.02, compared to Adjusted diluted EPS of $2.47 in the year-ago quarter.

Third quarter 2026 Adjusted results excluded cost reimbursement revenue, reimbursed expenses, and certain impairment charges. See the press release schedules for the calculation of Adjusted results and the manner in which the Adjusted measures are determined in this press release.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled $1,512 million in the 2026 third quarter, a 12 percent increase compared to third quarter 2025 Adjusted EBITDA of $1,349 million. See the press release schedules for the Adjusted EBITDA calculation.

Income Statement Reclassification

In the 2025 fourth quarter, to enhance understanding of the company's general and administrative costs, we reclassified amounts attributable to other expenses previously reported under the "General, administrative, and other" caption to the "Owned, leased, and other expense" caption of our Income Statements. The expenses that were reclassified from "General, administrative, and other" are certain costs associated with our property-related fee revenues, such as guarantee expense, provision for credit losses, and certain brand-related or property-related expenses, as well as costs associated with certain third-party agreements. Please refer to the Expense Captions - As Reclassified section in the press release schedules for information about the affected expense captions, as reclassified, for each quarter and the full fiscal year of 2025.

Selected Performance Information

The company added roughly 20,100 net rooms during the quarter, including over 13,400 net rooms in international markets. At the end of the quarter, Marriott's global system totaled over 10,200 properties, with nearly 1,834,000 rooms.

At the end of the quarter, the company's worldwide development pipeline totaled 4,209 properties with more than 634,000 rooms, including 266 properties with over 37,000 rooms approved for development but not yet subject to signed contracts. The quarter-end pipeline included 1,750 properties with over 278,000 rooms under construction, including hotels that are in the process of converting to our system. Over half of the rooms in the quarter-end pipeline were located in international markets.

In the 2026 third quarter, worldwide RevPAR increased 6.5 percent (a 6.4 percent increase using actual dollars) compared to the 2025 third quarter. RevPAR in the U.S. & Canada increased 7.4 percent (a 7.3 percent increase using actual dollars), and RevPAR in international markets increased 4.4 percent (a 4.4 percent increase using actual dollars) compared to the 2025 third quarter.

Balance Sheet & Common Stock

At the end of the quarter, Marriott's total debt was $16.8 billion and cash and equivalents totaled $0.5 billion, compared to $16.2 billion in debt and $0.4 billion of cash and equivalents at year-end 2025.

The company repurchased 3.5 million shares of common stock in the 2026 third quarter for $1.3 billion. Year-to-date through October 28, the company has repurchased 9.6 million shares for $3.4 billion.

During the 2026 third quarter, the company issued $250 million of Series NN Senior Notes due in 2029 with a 4.875 percent interest rate coupon and $1.0 billion of Series YY Senior Notes due in 2036 with a 5.650 percent interest rate coupon. The company also completed the refinancing of its credit facility, extending the maturity to September 2031 and increasing the facility size from $4.5 billion to $5.0 billion.

Company Outlook

The company's updated outlook generally assumes the continuation of the current macroeconomic environment. 

Marriott International, Inc. (Nasdaq: MAR) will conduct its quarterly earnings review for the investment community and news media on Monday, November 2, 2026, at 8:00 a.m. Eastern Time (ET). The conference call will be webcast simultaneously via Marriott's investor relations website at www.marriott.com/investor (click on "Events & Presentations" and click on the quarterly conference call link). A replay will be available at that same website until November 2, 2027.

The telephone dial-in number for the conference call is US Toll Free: 833-309-3473, or Global: +1 785-838-9251. The conference ID is MAR3Q26.