Q1 25 EPS
$2.32
BEAT +2.96%
Est. $2.25
Q1 25 Revenue
$6.26B
BEAT +1.36%
Est. $6.18B
vs S&P Since Q1 25
+13.3%
BEATING MARKET
MAR +46.8% vs S&P +33.5%
Market Reaction
Did MAR Beat Earnings? Q1 2025 Results
Marriott International kicked off 2025 with a solid first quarter, beating Wall Street expectations on both the top and bottom lines as global travel demand remained resilient. The hotel giant posted adjusted diluted EPS of $2.32, ahead of the $2.25 … Read more Marriott International kicked off 2025 with a solid first quarter, beating Wall Street expectations on both the top and bottom lines as global travel demand remained resilient. The hotel giant posted adjusted diluted EPS of $2.32, ahead of the $2.25 consensus estimate by 2.96%, while revenue climbed 4.8% year-over-year to $6.26 billion, edging past the $6.18 billion forecast. The primary engine behind the results was worldwide RevPAR growth of 4.1% in constant dollars, with international markets particularly strong; Asia Pacific excluding China surged 10.9% systemwide, helping offset a modest deceleration in U.S. And Canada demand late in the quarter amid broader macroeconomic uncertainty. Adjusted EBITDA rose 7% to $1.22 billion, supported by a 7% increase in base management and franchise fees. Looking ahead, Marriott guided full-year adjusted diluted EPS of $9.82 to $10.19, with RevPAR growth of 1.5% to 3.5%, and raised its net rooms growth outlook to nearly 5% following the announced acquisition of the citizenM lifestyle brand.
Key Takeaways
- • Worldwide RevPAR increased 4.1% in constant dollars, primarily driven by higher ADR
- • International RevPAR grew 5.9% with double-digit gains in Asia Pacific excluding China (10.9%)
- • Base management and franchise fees up 7% driven by RevPAR increases, unit growth, and higher credit card fees
- • Lower G&A expenses from enterprise-wide efficiency initiative
- • Favorable $71 million income tax reserve release (excluded from adjusted results)
- • Conversions represented approximately one-third of room signings and openings
- • Marriott Bonvoy loyalty program grew to nearly 237 million members
MAR YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
MAR Revenue by Segment
With YoY comparisons, source: SEC Filings
“The combination of continued travel demand, the strength of our brands and our fee driven business model drove strong financial results in the first quarter. Despite heightened macro-economic uncertainty, global RevPAR rose over 4 percent, primarily driven by higher ADR, and our development momentum remained positive. Our international markets experienced particularly robust growth, with RevPAR increasing nearly 6 percent, led by double-digit gains in APEC. RevPAR in the U.S. & Canada rose over 3 percent in the first quarter, although we did see slower growth in March.”
— Anthony Capuano, Q1 2025 Earnings Press Release
MAR Earnings Trends
MAR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MAR EPS Trend
Earnings per share: estimate vs actual
MAR Revenue Trend
Quarterly revenue: estimate vs actual
MAR Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $2.55 | $2.72 | +6.49% | $6.65B | +1.13% |
| Q4 25 MISS FY | $2.62 | $2.58 | -1.51% | $6.69B | +0.29% |
| FY Full Year | $10.11 | $10.02 | -0.90% | $26.19B | -0.11% |
| Q3 25 BEAT | $2.39 | $2.47 | +3.46% | $6.49B | +0.47% |
| Q2 25 BEAT | $2.62 | $2.65 | +0.97% | $6.74B | +1.19% |
| Q1 25 BEAT | $2.25 | $2.32 | +2.96% | $6.26B | +1.36% |