Marriott International Reports Fourth Quarter and Full Year 2025 Results

Core Insights - Marriott International reported strong financial results for the fourth quarter and full year 2025, highlighting the strength of its brands and development momentum [1][2][3] Financial Performance - Fourth quarter adjusted EBITDA reached $1,402 million, a 9% increase from $1,286 million in Q4 2024 [2][4] - Full year adjusted EBITDA totaled $5,383 million, reflecting robust operational performance [1][4] - Reported net income for Q4 2025 was $445 million, a slight decrease of 2% compared to $455 million in Q4 2024 [2][4] - Full year reported net income increased to $2,601 million, up 10% from $2,375 million in 2024 [4][5] - Adjusted diluted EPS for Q4 2025 was $2.58, compared to $2.45 in the same quarter of 2024 [2][4] Revenue Growth - Worldwide RevPAR increased by 1.9% in Q4 2025, with international markets seeing a growth of 6.1%, while U.S. & Canada experienced a slight decline of 0.1% [1][2] - For the full year 2025, RevPAR rose by 2.0%, with international markets growing by 5.1% and U.S. & Canada by 0.7% [1][2] Development and Expansion - The company added approximately 100,000 gross rooms globally in 2025, resulting in a net room growth of over 4.3% from year-end 2024 [1][2] - Marriott's worldwide development pipeline reached a record of approximately 4,100 properties and nearly 610,000 rooms, with 43% of pipeline rooms under construction [1][2] Shareholder Returns - In 2025, Marriott returned over $4.0 billion to shareholders through dividends and share repurchases [1][2] - The company repurchased 3.5 million shares for $1.0 billion in Q4 2025 and a total of 12.1 million shares for $3.3 billion throughout the year [2][4] Membership Growth - Marriott Bonvoy membership grew by approximately 43 million in 2025, bringing total membership to nearly 271 million [1][2] - Member stays accounted for 75% of room nights in the U.S. & Canada and 68% globally [1][2] Future Outlook - For full year 2026, Marriott expects worldwide RevPAR to rise by 1.5% to 2.5%, net rooms growth of 4.5% to 5%, and adjusted EBITDA growth of 8% to 10% [1][2] - The company anticipates over $4.3 billion in capital returns to shareholders in 2026 [1][2]