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.
MAR YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
MAR Revenue by Segment
With YoY comparisons, source: SEC Filings
“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
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% |