01—Abstract
Summary
Summary of the 10-Q filed August 3, 2026. Cited figures are marked; the original filing is the authoritative source.
Marriott International, Inc. reported solid financial results for the six months ended June 30, 2026, with net income remaining stable at $1.414 billion compared to $1.428 billiona in the prior year period.
Total revenues saw a healthy increase, driven by strong performance in franchise fees and owned, leased, and other revenues. While the company experienced robust RevPAR growth in the U.S. & Canada and several international markets, performance in the Middle East & Africa region was negatively impacted by geopolitical conflict.
Despite this, Marriott's asset-light model continues to drive consistent fee generation, and the company is actively managing its capital through share repurchases and dividends, indicating confidence in its ongoing operational strength and future outlook. The systemwide room count continues to grow, reflecting ongoing expansion.
02—Key points
Key Highlights
- Net income for the first six months of 2026 was $1.414 billion, a slight decrease from $1.428 billion in the same period of 2025, but demonstrating overall stability.
- Gross fee revenues increased by 13% to $3.011 billion for the six months ended June 30, 2026, primarily driven by a significant rise in franchise fees.
- Worldwide RevPAR increased by 3.8% for the six months ended June 30, 2026, with strong growth in U.S. & Canada (4.6%) and other international regions, although negatively impacted in the Middle East & Africa due to geopolitical conflict.
- The company's system grew to 10,082 properties (1.81 million rooms) by June 30, 2026, a 5% increase in properties and 4% increase in rooms year-over-year, with a robust development pipeline of nearly 4,200 properties.
- Cash provided by operating activities was strong at $1.806 billion for the first six months of 2026, supporting significant share repurchases ($1.819 billion in Q2 2026) and dividend payments ($370 million in H1 2026).
- Long-term debt increased to $16.915 billion, with the company issuing new notes and utilizing its $4.5 billion credit facility, while maintaining compliance with its leverage covenant.
- An impairment charge of $68 million was recorded in the second quarter of 2026 related to a hotel designated as held for sale, impacting the U.S. & Canada segment profit.
03—Questions
Frequently Asked Questions
What is Marriott's revenue performance for the first half of 2026?
Marriott International, Inc. reported robust revenue growth for the first six months of 2026. Gross fee revenues increased by 13% to $3.011 billion, up from $2.675 billion in the prior year period. This growth was largely propelled by a significant 18% increase in franchise fees, which rose to $1.895 billion, and an 7% increase in incentive management fees to $434 million.
How did the geopolitical conflict in the Middle East affect Marriott's performance?
The conflict in the Middle East negatively impacted Marriott's performance, specifically in the Middle East & Africa region. RevPAR in this region decreased by 33.1% for comparable company-operated properties and 16.9% for comparable systemwide properties in the second quarter of 2026, and experienced similar declines for the first half of the year. This impact began in March 2026 and continued into the third quarter, with the company noting that the extent of future impacts depends on the duration and disruption from the conflict.
What is Marriott's strategy for returning capital to shareholders?
Marriott International, Inc. is committed to returning capital to shareholders through a combination of share repurchases and cash dividends. In the second quarter of 2026, the company repurchased approximately 3 million shares for $1.1 billion. Year-to-date through July 29, 2026, share repurchases totaled $2.2 billion. The company also declared and paid cash dividends, reflecting its confidence in its financial health and operational capabilities.
How is Marriott's global property portfolio expanding?
Marriott continues to expand its global footprint. As of June 30, 2026, the company's system comprised 10,082 properties, representing an increase of 481 properties (5%) compared to June 30, 2025. The total number of rooms in the system reached 1,813,698, up 4% year-over-year. The development pipeline remains strong, with nearly 4,200 properties and approximately 629,000 rooms in development, over half of which are located outside the U.S. & Canada.
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