Core Insights - Marriott's shares increased after the company reported a strong revenue per available room (RevPAR) performance, despite missing earnings expectations and providing solid guidance for 2026 [1][3]. Group 1: Revenue Performance - The global luxury RevPAR increased over 6% year-over-year, indicating strong demand in the luxury segment [3]. - In the U.S. and Canada, RevPAR would have increased by about 1% if not for the impact of the government shutdown, which affected operations for approximately 43 days [5]. - The company has about 10% of its global inventory and pipeline in the luxury tier, benefiting from the K-shaped economy [6]. Group 2: Travel Trends - There is a noticeable decline in international inbound travel to the U.S., which may impact domestic tourism and events like the World Cup [7]. - However, cross-border travel globally is ahead of 2019 levels, suggesting a recovery in international travel [8]. Group 3: Business Travel - Leisure travel was the strongest segment for the quarter and the year, followed by group travel, while business transient travel remained flat [9]. - The company anticipates low to mid-single-digit increases in rates for special corporate business negotiations, indicating a positive outlook for business travel [10].

Marriott International shares surged after the company said it expects credit card fees to grow thanks to an increase in the royalty rate it charges branding partners. https://t.co/zU0v8P8F4O ...

Marriott International (NasdaqGS:MAR) Q4 2025 Earnings call February 10, 2026 08:30 AM ET Company ParticipantsJackie McConagha - SVP of Investor RelationsLeeny Oberg - CFORichard Clarke - Managing DirectorStephen Grambling - Managing Director and the Head of U.S. Gaming, Lodging, and Leisure ResearchTony Capuano - CEOConference Call ParticipantsAri Klein - Director and Equity Research AnalystBrandt Montour - Director and Senior Equity Research AnalystConor Cunningham - Director and Senior Equity Research An ...

Marriott International (NasdaqGS:MAR) Q4 2025 Earnings call February 10, 2026 08:30 AM ET Company ParticipantsAnthony Capuano - CEOJackie Burka McConagha - SVP of Investor RelationsLeeny Oberg - CFORichard Clarke - Managing DirectorStephen Grambling - Managing Director and the Head of U.S. Gaming, Lodging, and Leisure ResearchConference Call ParticipantsAri Klein - Director and Equity Research AnalystBrandt Montour - Director and Senior Equity Research AnalystConor Cunningham - Director and Senior Equity Re ...

Marriott International (NasdaqGS:MAR) Q4 2025 Earnings call February 10, 2026 08:30 AM ET Speaker8Please note that this call is being recorded, and we're standing by should you need any assistance. It is now my pleasure to turn the meeting over to Jackie McConagha, Senior Vice President of Investor Relations. Please go ahead, ma'am.Speaker5Good morning, everyone, and welcome to Marriott's fourth quarter 2025 earnings call. On the call with me today are Tony Capuano, our President and Chief Executive Officer ...

分组1 - Marriott International reported quarterly earnings of $2.58 per share, missing the Zacks Consensus Estimate of $2.64 per share, but showing an increase from $2.45 per share a year ago, resulting in an earnings surprise of -2.33% [1] - The company posted revenues of $6.69 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 0.13% and increasing from $6.43 billion year-over-year [2] - Over the last four quarters, Marriott has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] 分组2 - The stock has gained approximately 6.8% since the beginning of the year, outperforming the S&P 500's gain of 1.7% [3] - The current consensus EPS estimate for the coming quarter is $2.56 on revenues of $6.54 billion, and for the current fiscal year, it is $11.54 on revenues of $27.9 billion [7] - The Zacks Industry Rank indicates that the Hotels and Motels sector is currently in the bottom 27% of over 250 Zacks industries, suggesting potential challenges for stock performance [8]

Marriott International logged higher revenue in the fourth quarter, boosted by solid international travel trends and continuing strength in the company's luxury segment. ...

Financial Performance - Fourth quarter 2025 RevPAR increased 1.9% worldwide, with a 6.1% growth in international markets and a 0.1% decline in U.S. & Canada[3] - Reported diluted EPS for the fourth quarter totaled $1.65, while adjusted diluted EPS was $2.58; for the full year, reported diluted EPS was $9.51 and adjusted diluted EPS was $10.02[3] - Fourth quarter reported net income was $445 million, and adjusted net income was $695 million; for the full year, reported net income totaled $2,601 million and adjusted net income was $2,742 million[3] - Adjusted EBITDA for the fourth quarter was $1,402 million, a 9% increase from the previous year, and for the full year, adjusted EBITDA totaled $5,383 million[3] - For full year 2026, the company 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%[3] - The company returned over $4.0 billion to shareholders through dividends and share repurchases in 2025[3] - For Q4 2025, Marriott reported total revenues of $6,690 million, a 4% increase from $6,429 million in Q4 2024[37] - Net income for Q4 2025 was $445 million, a decrease of 2% from $455 million in Q4 2024[37] - For the full year 2025, Marriott's total revenues reached $26,186 million, up 4% from $25,100 million in 2024[40] - The company reported a 10% increase in operating income for the full year 2025, totaling $4,141 million compared to $3,767 million in 2024[40] - Reported net income for Fiscal Year 2025 was $2,601 million, an increase from $2,375 million in Fiscal Year 2024, representing a growth of 9.5%[76] - Adjusted EBITDA for Fiscal Year 2025 was $5,383 million, reflecting an 8% increase compared to $4,981 million in Fiscal Year 2024[76] Revenue and Fees - Franchise fees increased by 6% to $843 million in Q4 2025, compared to $795 million in Q4 2024[37] - Franchise fees for the full year 2025 totaled $3,325 million, an increase from $3,113 million in 2024, representing a growth of 6.8%[45] - The outlook for 2026 includes a projected 35% increase in co-branded credit card fees recognized in franchise fees, reflecting expected strong growth in spending[24] - Cost reimbursement revenue for Q4 2025 was $4,857 million, up from $4,704 million in Q4 2024, reflecting a growth of 3.2%[45] - Cost reimbursement revenue for Fiscal Year 2025 totaled $(19,204) million, compared to $(18,482) million in Fiscal Year 2024, showing a 3.9% increase[76] Development and Growth - The company added nearly 100,000 gross rooms globally in 2025, resulting in a net rooms growth of over 4.3% from year-end 2024[3] - At year-end 2025, Marriott's worldwide development pipeline reached approximately 4,100 properties and nearly 610,000 rooms, with 43% of pipeline rooms under construction[3] - As of December 31, 2025, Marriott operates a total of 9,805 properties worldwide, comprising 1,779,936 rooms[51] - The company has 6,433 properties in the US & Canada, totaling 1,084,057 rooms, and 3,372 properties internationally, totaling 695,879 rooms[51] - Future growth strategies include market expansion and potential acquisitions to enhance the company's global footprint[51] Membership and Customer Engagement - In 2025, Marriott Bonvoy membership grew by approximately 43 million, bringing total membership to nearly 271 million, with member stays accounting for 75% of room nights in the U.S. & Canada[9] Operational Metrics - The operating income margin for Q4 2025 remained stable at 12%, while the adjusted operating income margin improved to 63% from 62% in Q4 2024[43] - Adjusted operating income for Q4 2025 was $1,155 million, an 8% increase compared to $1,072 million in Q4 2024[43] - The company experienced a 3% increase in incentive management fees, totaling $239 million in Q4 2025 compared to $206 million in Q4 2024[37] Market Performance - The average daily rate for Marriott Hotels reached $255.18, up 3.1% from the previous year[59] - The total systemwide occupancy rate for US & Canada properties was 65.8%, a decrease of 0.9 percentage points compared to 2024[61] - The overall RevPAR for Composite US & Canada Luxury properties rose by 4.9% to $317.38, with occupancy at 69.3%, a 0.6 percentage point increase[64] - For the twelve months ended December 31, 2025, RevPAR for JW Marriott increased by 3.1% to $242.57, while occupancy decreased by 0.2 percentage points to 70.9%[64] Expenses and Costs - General and administrative expenses totaled $870 million, with quarterly expenses of $209 million, $210 million, $210 million, and $241 million[47] - Interest expense for Fiscal Year 2025 was $809 million, up from $695 million in Fiscal Year 2024, marking a 16.4% increase[76] - Provision for income taxes in Fiscal Year 2025 was $793 million, compared to $776 million in Fiscal Year 2024, reflecting a 2.2% increase[76] - Stock-based compensation for Fiscal Year 2025 amounted to $236 million, slightly down from $237 million in Fiscal Year 2024[76] Accounting and Reporting - The company plans to exclude cost reimbursement revenue and reimbursed expenses from its guidance due to the inability to forecast these items accurately[80] - Adjusted EBITDA is considered a meaningful indicator of operating performance, allowing for period-over-period comparisons and excluding items that can vary widely across different industries[86] - Revenue per Available Room (RevPAR) is calculated by dividing property level room revenue by total rooms available, serving as a key performance measure[88] - Occupancy is calculated by dividing total rooms sold by total rooms available, indicating the utilization of a property's available capacity[88] - Average Daily Rate (ADR) is calculated by dividing property level room revenue by total rooms sold, useful for assessing pricing levels[88]

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]

Marriott International, Inc. (NASDAQ:MAR) will release earnings for its fourth quarter before the opening bell on Tuesday, Feb. 10.Analysts expect the Bethesda, Maryland-based company to report quarterly earnings of $2.62 per share. That's up from $2.45 per share in the year-ago period. The consensus estimate for Marriott's quarterly revenue is $6.67 billion (it reported $6.43 billion last year), according to Benzinga Pro.Marriott International recently reported a 4.3% net rooms growth in 2025.Shares of Mar ...