10-QPeriod: Q1 FY2026

MARRIOTT INTERNATIONAL INC /MD/ Quarterly Report for Q1 Ended Mar 31, 2026

Filed May 6, 2026For Securities:MAR

Summary

Marriott International, Inc. reported solid financial results for the first quarter of 2026, demonstrating continued resilience and growth. Net income saw a slight decrease to $648 million from $665 million in the prior year's quarter, resulting in diluted EPS of $2.43 compared to $2.39. This performance was driven by a robust increase in net fee revenues, up 12% year-over-year to $1,398 million, primarily fueled by a significant 17% rise in franchise fees, which benefited from higher co-branded credit card fees and increased RevPAR. The company's asset-light model continues to be a key strength, with substantial system-wide room growth of 4% year-over-year and a robust development pipeline. Despite a slight increase in interest expense due to higher debt balances, Marriott maintained strong operating income of $1,064 million. The company proactively managed its liquidity, with cash, cash equivalents, and restricted cash increasing to $468 million. Marriott also continued its commitment to returning capital to shareholders through dividends and a substantial share repurchase program. While global RevPAR increased by 4.2%, the company noted a negative impact on RevPAR in the Middle East & Africa region due to geopolitical conflict, the extent of which depends on the duration of travel disruptions.

Financial Highlights

43 data points
Beta

Revenue

$6.65B

Net Income

$648.00M

9.7% Net Margin

EPS (Diluted)

$2.43

Total Assets

$27.86B

Cash & Equivalents

$454.00M

Free Cash Flow

$728.00M

Financial Statements
Beta
Revenue$6.65B
Operating Expenses$5.59B
Operating Income$1.06B
Net Income$648.00M
EPS (Basic)$2.44
EPS (Diluted)$2.43
Shares Outstanding (Basic)266.10M
Shares Outstanding (Diluted)266.80M

Key Highlights

  • 1Net income for the first quarter of 2026 was $648 million, with diluted EPS of $2.43.
  • 2Net fee revenues increased by 12% to $1,398 million, driven by a 17% surge in franchise fees.
  • 3Worldwide RevPAR grew by 4.2%, with U.S. & Canada RevPAR up 4.0% and international RevPAR up 4.6%.
  • 4The company's system grew by 77,266 rooms (4%) year-over-year, totaling 1,795,808 rooms at quarter-end.
  • 5Marriott repurchased $0.7 billion of common stock in the first quarter and paid $0.18 billion in dividends.
  • 6Long-term debt increased, with new issuances totaling $1.425 billion in net proceeds during the quarter.
  • 7The Middle East & Africa region experienced a decline in RevPAR due to geopolitical conflict.

Frequently Asked Questions

Marriott International, Inc. reported a net income of $648 million for the first quarter of 2026, resulting in diluted earnings per share of $2.43. This represents a slight decrease from the $665 million net income and $2.39 diluted EPS reported in the same period of 2025. The company saw a strong 12% increase in net fee revenues to $1,398 million.

Net fee revenues increased by 12% to $1,398 million. This growth was primarily driven by a substantial 17% increase in franchise fees, which benefited from higher co-branded credit card fees and improved RevPAR. Base management fees and incentive management fees also saw modest increases of 4% and 9%, respectively.

Marriott continues to expand its global footprint, with system-wide rooms growing by 4% year-over-year to nearly 1.8 million rooms. The company's development pipeline remains robust, with over 4,100 properties and nearly 618,000 rooms in development, over half of which are located outside the U.S. & Canada.

The company noted a negative impact on RevPAR in the Middle East & Africa region due to geopolitical conflict, which could continue to affect demand. Additionally, interest expense increased due to higher debt balances resulting from recent Senior Notes issuances. The company also continues to manage legacy legal matters, such as the Starwood Data Security Incident, though it does not currently expect a material impact on its long-term financial health.