BETHESDA – November 02, 2026 -- Marriott International raised its full-year 2026 global RevPAR growth outlook to 4.5-5 percent after third-quarter Adjusted EBITDA rose 12 percent to $1,512 million, from $1,349 million a year earlier.
Worldwide RevPAR grew 6.5 percent in the quarter on higher average daily rate and occupancy. The U.S. & Canada rose 7.4 percent and international markets rose 4.4 percent. CEO Anthony Capuano cited "continued momentum across our business."
Net income rises 9 percent to $794 million, adjusted EPS jumps to $3.02
Reported net income reached $794 million, against $728 million in the third quarter of 2025. Reported diluted EPS was $3.04, up from $2.67. Reported operating income increased to $1,274 million from $1,180 million.
Adjusted net income climbed to $790 million from $674 million. Adjusted diluted EPS rose to $3.02 from $2.47, and Adjusted operating income reached $1,267 million, compared with $1,119 million.
Fee income grows 13 percent as co-branded card fees lead
Franchise and base management fees totaled $1,341 million, up 13 percent from $1,190 million. Higher co-branded credit card fees, higher RevPAR and rooms growth drove the increase. Incentive management fees rose 22 percent to $181 million from $148 million, with all regions posting year-over-year growth and the U.S. & Canada up meaningfully.
Owned, leased, and other revenue net of expense fell to $41 million from $70 million. Lower owned and leased hotel results, renovations, the second-quarter sale of a U.S. & Canada hotel and higher costs tied to a third-party agreement drove the decline. A $12 million expected insurance recovery tied to second-quarter property-related litigation partly offset it. General and administrative expenses edged up to $214 million from $210 million. Net interest expense rose to $219 million from $194 million on higher debt balances.
APEC delivers over 9 percent RevPAR growth while the Middle East conflict weighs
International RevPAR growth was led by APEC at over 9 percent, supported by robust inbound demand. EMEA RevPAR rose over 4 percent on solid European growth. The ongoing Middle East conflict continued to hurt results there, though trends improved meaningfully from the second quarter.
Pipeline hits record 634,000 rooms across 4,209 properties
The worldwide development pipeline reached a record 4,209 properties with more than 634,000 rooms. That includes 266 properties with over 37,000 rooms approved but not yet under signed contracts. Some 1,750 properties with over 278,000 rooms were under construction, including hotels pending conversion. International markets account for over half of pipeline rooms.
Marriott added roughly 20,100 net rooms in the quarter, over 13,400 of them international. Net rooms grew 4.6 percent year over year. The global system now totals over 10,200 properties with nearly 1,834,000 rooms. Conversions made up over a third of signings and over 40 percent of openings in the first nine months. The company also recorded record global organic signings year to date through September.
Marriott Bonvoy membership reached approximately 309 million, helped by collaborations with Uber and Starbucks.
Marriott buys back $1.3 billion in stock and expands credit facility to $5.0 billion
The company repurchased 3.5 million shares for $1.3 billion in the quarter. Through October 28, it has repurchased 9.6 million shares for $3.4 billion and returned approximately $4.0 billion to shareholders including dividends.
Total debt stood at $16.8 billion at quarter-end, up from $16.2 billion at year-end 2025. Cash and equivalents were $0.5 billion, against $0.4 billion. Marriott issued $250 million of Series NN Senior Notes due 2029 at a 4.875 percent coupon and $1.0 billion of Series YY Senior Notes due 2036 at 5.650 percent. It also refinanced its credit facility, extending maturity to September 2031 and raising capacity from $4.5 billion to $5.0 billion.