$MAR · MARRIOTT INTERNATIONAL INC /MD/
Marriott International reported Q3 2026 results with global RevPAR up 6.5%, reported diluted EPS of $3.04, and Adjusted diluted EPS of $3.02. Adjusted EBITDA reached $1,512 million, a 12% YoY increase. The company raised full-year RevPAR guidance to 4.5%-5.0% and guided Q4 Adjusted EPS of $3.14-$3.21. The development pipeline hit a record 4,209 properties.
- Global RevPAR increased 6.5% YoY, with U.S. & Canada up 7.4% and international up 4.4%.
- Adjusted diluted EPS of $3.02 beat prior-year $2.47 by 22%; reported diluted EPS was $3.04.
- Adjusted EBITDA rose 12% YoY to $1,512 million; net income grew 9% to $794 million.
- Development pipeline hit a record 4,209 properties / 634,000+ rooms; net rooms grew 4.6% YoY.
- Full-year 2026 RevPAR guidance raised to 4.5%-5.0%; Q4 Adjusted EPS guided to $3.14-$3.21.
Extended-hours trading shows MAR at $415.50, +4.06% vs the regular close of $399.30, reflecting strong positive reaction to the beat-and-raise quarter. Markets were closed at filing; the after-hours move captures initial sentiment.
Marriott's broad-based RevPAR strength across all regions, record pipeline, and raised guidance confirm the travel cycle remains robust despite macro uncertainty.
Marriott's 6.5% global RevPAR growth and raised guidance signal continued travel-demand resilience, outpacing peers. The record pipeline of 634,000+ rooms and 44% under construction underscores the asset-light model's expansion capacity.
Middle East conflict continued to impact results in that region, though trends improved from Q2. Higher debt balances drove interest expense up to $219M from $194M YoY. Owned/leased net revenue fell to $41M from $70M due to renovations and a hotel sale.