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Marriott International

Marriott International (MAR) Q1 2026 Earnings

Reported May 6, 2026 at 7:00 AM ET · SEC Source

Q1 26 EPS

$2.72

BEAT +6.49%

Est. $2.55

Q1 26 Revenue

$6.65B

BEAT +1.13%

Est. $6.58B

vs S&P Since Q1 26

+2.0%

BEATING MARKET

MAR +3.6% vs S&P +1.6%

Market Reaction

Did MAR Beat Earnings? Q1 2026 Results

Marriott International kicked off fiscal 2026 on a strong note, posting first-quarter earnings per share of $2.72 against a consensus estimate of $2.55, a beat of 6.49%, while revenue of $6.65 billion edged past expectations by 1.13% and grew 6.2% ye… Read more Marriott International kicked off fiscal 2026 on a strong note, posting first-quarter earnings per share of $2.72 against a consensus estimate of $2.55, a beat of 6.49%, while revenue of $6.65 billion edged past expectations by 1.13% and grew 6.2% year over year. The primary engine behind the outperformance was a broad-based acceleration in global travel demand, with worldwide RevPAR rising 4.2% in constant dollars and adjusted diluted EPS climbing 17% year over year, supported by a 13% jump in franchise and base management fees to $1.21 billion. Strength was notably wide across regions, with Asia Pacific leading international markets at over 7% RevPAR growth, even as Middle East conflict weighed on March results. The company's development pipeline reached nearly 618,000 rooms, up over 5% year over year, reflecting continued network expansion. Looking ahead, Marriott guided full-year adjusted diluted EPS of $11.38 to $11.63 and worldwide RevPAR growth of 2% to 3%, a backdrop broadly consistent with the positive lodging demand trends seen across the broader U.S. Hotel industry.

Key Takeaways

  • • Worldwide RevPAR increased 4.2% in constant dollars, exceeding high end of expectations
  • • U.S. & Canada RevPAR rose 4.0% with performance strengthening throughout the quarter
  • • APEC led international performance with RevPAR increasing more than 7%
  • • Greater China RevPAR increased nearly 6%, driven by leisure travel in Hong Kong and Hainan
  • • Higher co-branded credit card fees, rooms growth, and higher RevPAR drove 13% increase in franchise and base management fees
  • • Conversions represented over 35% of signings and over 40% of openings
  • • Marriott Bonvoy membership grew to nearly 283 million members

MAR Forward Guidance & Outlook

For Q2 2026, Marriott expects worldwide RevPAR growth of 1.5% to 2.5%, gross fee revenues of $1,538M to $1,553M, Adjusted EBITDA of $1,525M to $1,550M, and Adjusted diluted EPS of $2.99 to $3.06. For full year 2026, the company guides worldwide RevPAR growth of 2.0% to 3.0%, net rooms growth of 4.5% to 5.0%, gross fee revenues of $5,925M to $5,985M, Adjusted EBITDA of $5,880M to $5,970M, Adjusted diluted EPS of $11.38 to $11.63, investment spending of $1,050M to $1,150M, and capital return to shareholders of over $4,400M. The outlook assumes continued impact from the Middle East conflict through year-end. It excludes any impact from the ongoing renegotiation of U.S. co-branded cards. The company plans to sell a U.S. & Canada hotel in Q2 2026 (with an expected impairment charge of approximately $65M to $70M) and anticipates completing an investment in Lefay later in the year.

24/7 Wall St

MAR YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

MAR Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“We delivered excellent first quarter results, reflecting the strength of our brands, our unmatched global footprint, and the resilience of demand for travel. Global RevPAR increased over 4 percent, exceeding the high end of our expectations, driven by gains in both average daily rate and occupancy. RevPAR in the U.S. & Canada rose 4 percent, with performance strengthening throughout the quarter and growth broad-based across customer segments and chain scales.”

— Anthony Capuano, Q1 2026 Earnings Press Release

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