Marriott International: Beat — EPS $3.02, Revenue $7.01B
Earnings BeatQ3 2026 · Pre-market
Did Marriott International (MAR) beat earnings today?
Yes, Marriott International (MAR) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+5.96% surprise
$3.02Actual
Expected: $2.85
vs. year ago +22.0%
Total Revenue+1.23% surprise
$7.01BActual
Expected: $6.92B
vs. year ago +8.0%
Released Nov 02 · 7:00 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Revenue | $7.00B | $6.49B | +8.0% |
| Revenue detail — reported lines | |||
| └─Franchise fees | $1.01B | $876.00M | +15.0% |
| └─Base management fees | $334.00M | $314.00M | +6.0% |
| └─Incentive management fees | $181.00M | $148.00M | +22.0% |
| └─Gross fee revenues | $1.52B | $1.34B | +14.0% |
| └─Contract investment amortization | $(33)M | $(29)M | -14.0% |
| └─Net fee revenues | $1.49B | $1.31B | +14.0% |
| └─Owned, leased, and other revenue | $436.00M | $420.00M | +4.0% |
| Net Income | $794.00M | $728.00M | +9.0% |
| GAAP Basic EPS | $3.05 | $2.68 | +14.0% |
| GAAP Diluted EPS | $3.04 | $2.67 | +14.0% |
| Adjusted Net Income | $790.00M | $674.00M | +17.0% |
| Adjusted Diluted EPS | $3.02 | $2.47 | +22.0% |
Financial Outlook / Guidance
| Metric | Q4 2026 Outlook | Expected | FY2026 Outlook | Expected |
|---|---|---|---|---|
| Worldwide RevPAR growth | 4.5% to 5.0% | — | 4.5% to 5.0% | — |
| Net rooms growth | — | — | Low end of 4.5% to 5% | — |
| Gross fee revenues | $1,604 to $1,612M | $7.07BMissed -77.26% | $6,137 to $6,145M | $27.78BMissed -77.89% |
| Owned, leased, and other revenue, net of owned, leased, and other expense | $47 to $52M | — | $170 to $175M | — |
| General and administrative expenses | $237 to $227M | — | $890 to $880M | — |
| Adjusted EBITDA | $1,573 to $1,596M | — | $6,075 to $6,098M | — |
| Adjusted EPS – diluted | $3.14 to $3.21 | $3.02Beat +5.13% | $12.07 to $12.14 | $11.74Beat +3.11% |
| Investment spending | — | — | $1,250 to $1,350M | — |
| Capital return to shareholders | — | — | At least $4,800M | — |
Business Highlights
- ➤Added roughly 20,100 net rooms globally, including over 13,400 internationally.
- ➤Worldwide development pipeline reached a record 4,209 properties and more than 634,000 rooms.
- ➤Pipeline included 1,750 properties with over 278,000 rooms under construction.
- ➤Over half of pipeline rooms were located in international markets.
- ➤Record global organic signings were achieved year-to-date through September.
- ➤Conversions represented over a third of signings and over 40% of openings year-to-date.
- ➤Marriott Bonvoy membership reached approximately 309 million members worldwide.
- ➤Collaborations with Uber, Starbucks and others supported Marriott Bonvoy engagement.
- ➤Repurchased 3.5 million shares during the quarter.
- ➤Refinanced the credit facility through September 2031 and increased it to $5.0 billion.
Management Commentary
Anthony Capuano, President and Chief Executive Officer
“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.”
Anthony Capuano, President and Chief Executive Officer
“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.”
Anthony Capuano, President and Chief Executive Officer
“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.”
Anthony Capuano, President and Chief Executive Officer
“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.”
Anthony Capuano, President and Chief Executive Officer
“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.”