| May 13, 2026 | management_change | Marriott held its Annual Meeting of Stockholders, electing 12 directors and approving other proposals. |
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| Feb 20, 2026 | debt_offering | Marriott issued $600M of 4.500% Series WW Notes and $850M of 5.100% Series XX Notes, raising $1.425B. |
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| Feb 10, 2026 | earnings | Marriott reported Q4 2025 adjusted diluted EPS of $2.58 and full year adjusted diluted EPS of $10.02. |
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| Feb 10, 2026 | Guidance: adjusted_ebitda | 1305.00 to 1325.00 |
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| Feb 10, 2026 | Guidance: adjusted_ebitda | 5840.00 to 5930.00 |
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| Feb 10, 2026 | Guidance: adjusted_ebitda_growth | 8.00 to 10.00 |
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| Feb 10, 2026 | business | Marriott International operates primarily as an asset-light franchisor, operator, and licensor of hotel, residential, and timeshare properties, owning less than one percent of its system. As of year-end 2025, its global portfolio included 9,805 properties (1.78 million rooms) in 145 countries, with 4,100 additional properties in its development pipeline. Operations are segmented across U.S. & Canada, EMEA, Greater China, and APEC. Marriott offers an extensive brand portfolio, categorized into Classic and Distinctive styles across Luxury, Premium, Select, and Midscale quality tiers, including longer-stay options.
Revenue streams include franchising fees (initial and continuing royalties, typically 4-7% of room revenue, plus centralized service fees), management fees (base and incentive, profit-based), and licensing fees (e.g., timeshare, MGM Collection). The Marriott Bonvoy Loyalty Program is a core strategic asset, driving significant repeat business (75% U.S., 68% global room nights by members in 2025) and funded partly by co-branded credit card partnerships with JPMorgan Chase and American Express. Marriott faces intense competition from global hotel chains (e.g., Hilton, IHG), online travel agencies (e.g., Expedia), and alternative lodging platforms (e.g., Airbnb). The company holds a 17% U.S. hotel market share and 4% outside the U.S. |
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| Feb 10, 2026 | mda | Marriott International reported a 2.0% increase in worldwide RevPAR for 2025, driven by a 2.1% rise in Average Daily Rate. International regions, including APEC and EMEA, demonstrated strong RevPAR growth of 5.1%, while U.S. & Canada RevPAR increased 0.7%, benefiting from luxury hotel demand but facing softer select-service performance due to weaker business transient and government travel. Greater China RevPAR grew only 0.4% amidst macroeconomic softness.
Net fee revenues rose 5% to $5.3 billion, primarily from higher co-branded credit card fees and rooms growth, with franchise fees up 7% and management fees up 3%. The asset-light model expanded, adding 444 properties and 73,605 rooms, including the citizenM brand acquisition and new brands like Series by Marriott. The development pipeline stands at 610,000 rooms, with over half outside U.S. & Canada and 43% under construction. Marriott expects 4.5% to 5.0% net rooms growth in 2026.
Financially, debt increased to $16.2 billion due to Senior Notes issuances. The company maintains a $4.5 billion revolving credit facility, comfortably meeting its 4.5x leverage covenant. Cash from operations increased, supporting $3.3 billion in share repurchases and consistent dividends, signaling continued shareholder returns. Capital expenditures are projected at $1.0-1.1 billion for 2026, including significant technology system transformation. The Starwood Data Security Incident's financial impact is not expected to affect long-term financial health. |
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