Marriott International
Franchisor and operator of global hotel brands linked by Marriott Bonvoy.
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Profile
Franchises, manages, and licenses hotels across luxury, premium, select, midscale, and extended-stay brands, earning royalties and management fees tied to property revenue and profit. Marriott Bonvoy links the portfolio, while third-party owners supply most hotel capital and bear property operating costs.
Franchises, manages, and licenses more than 10,000 lodging properties across luxury, premium, select, midscale, extended-stay, and all-inclusive tiers. The portfolio runs from The Ritz-Carlton, St. Regis, and JW Marriott to Sheraton, Courtyard, Residence Inn, citizenM, and City Express, alongside branded residences, timeshare, yachts, outdoor lodging, and rental homes.
Earns royalties tied mainly to hotel room revenue, base fees tied to revenue, incentive fees tied to property profits, and licensing and co-branded credit-card fees. Marriott Bonvoy anchors repeat business and direct bookings across the portfolio, supported by centralized reservations, marketing, and revenue management.
Owns or leases very few hotels, leaving property capital and operating costs largely with third-party owners. Fee growth depends on travel demand, hotel revenue and profits, continued owner agreements, and owners' access to capital for openings, conversions, and renovations.
Company facts
Categories
Key statistics
Year to date +12.0% · Average volume (30d) 1.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 20, 2026 | UBS | Reiterate | Neutral | $412 | $395 |
| Aug 11, 2026 | CICC | Initiate | Outperform | ||
| Aug 4, 2026 | Deutsche Bank | Target | $376 | $372 | |
| Aug 4, 2026 | Robert W. Baird | Target | $386 | $393 | |
| Aug 4, 2026 | Barclays | Reiterate | Equal Weight | $379 | $348 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $3.08 | $3.19 | +3.6% | $7.19B | $7.07B | −1.7% | −6.97% |
| May 6, 2026Q1 FY26 | $2.56 | $2.72 | +6.3% | $6.59B | $6.65B | +1.0% | −1.95% |
| Feb 10, 2026Q4 FY25 | $2.60 | $2.58 | −0.8% | $6.67B | $6.69B | +0.3% | −0.17% |
| Nov 4, 2025Q3 FY25 | $2.38 | $2.47 | +3.8% | $6.46B | $6.49B | +0.5% | +3.98% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $6.26B | $6.74B | $6.49B | $6.69B | $6.65B | $7.07B | |
| Gross profit | $1.25B | $1.81B | $1.42B | $1.11B | $1.34B | $1.55B | |
| Operating income | $948.0M | $1.24B | $1.18B | $777.0M | $1.06B | $1.23B | |
| Net income | $665.0M | $763.0M | $728.0M | $445.0M | $648.0M | $766.0M | |
| Diluted EPS | $2.39 | $2.78 | $2.67 | $1.65 | $2.41 | $2.84 | |
| Gross margin | 19.9% | 26.9% | 21.9% | 16.5% | 20.2% | 22.0% | |
| Operating margin | 15.1% | 18.3% | 18.2% | 11.6% | 16.0% | 17.4% |
Fiscal years (4-quarter sums)FY21 $13.86B · FY22 $20.77B · FY23 $23.71B · FY24 $25.10B · FY25 $26.19B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $462.0M · Total debt $17.77B · Total assets $28.09B · Shareholders' equity −$4.53B
Dividends
Raised for 3 straight years — most recently to $0.73 from $0.67 in May 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 20, 2026 | Aug 20 | Sep 30 | $0.73 | |
| May 22, 2026 | May 22 | Jun 30 | $0.73 | raised from $0.67 |
| Feb 26, 2026 | Feb 26 | Mar 31 | $0.67 | |
| Nov 20, 2025 | Nov 20 | Dec 31 | $0.67 | |
| Aug 21, 2025 | Aug 21 | Sep 30 | $0.67 | |
| May 23, 2025 | May 23 | Jun 30 | $0.67 | raised from $0.63 |
| Feb 27, 2025 | Feb 27 | Mar 31 | $0.63 | |
| Nov 21, 2024 | Nov 21 | Dec 31 | $0.63 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 260.77M · Float 225.70M · 86.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 16.05M | 6.16% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 14.04M | 5.38% | 13F | Aug 13, 2026 |
| State Street Corp | 9.64M | 3.70% | 13F | Aug 7, 2026 |
| Invesco Ltd. | 9.64M | 3.70% | 13F | Aug 14, 2026 |
| FMR LLC | 6.81M | 2.61% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 18, 2026 | Peggy Roe | officer: EVP & Chf. Customer Officer | −3,000 | $361.56 |
| May 13, 2026 | Yibing Mao | officer: Pres. Greater China | −4,816 | $347.72 |
| Feb 19, 2026 | Rajeev Menon | officer: President, APEC | −3,492 | $354.00 |
| Feb 18, 2026 | Rajeev Menon | officer: President, APEC | −6,333 | $356.61 |
| Feb 18, 2026 | Benjamin T. Breland | officer: CHRO & EVP, Global Ops. Serv. | −2,000 | $358.03 |
Peers
- Hilton
Asset-light manager/franchisor across 27 brands and 9,200+ properties globally.
- InterContinental Hotels Group (ADR)
Full-spectrum franchisor; 19 brands, 6,600+ hotels, 145M loyalty members.
- Hyatt Hotels
Luxury-focused manager/franchisor; 30 brands, all-inclusive and group strength.
- Wyndham Hotels & Resorts
Largest hotel franchisor by count; economy/midscale-dominant, 25 brands.
- Choice Hotels International
Midscale/economy pure-play franchisor; 22 brands, extended-stay and upscale.
- Booking
Leading OTA (Booking.com, Priceline) intermediating hotel bookings at scale.
- Airbnb
Home-rental platform; 8M+ listings diverting leisure nights from hotels.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Marriott International | $351.16 | +0.01% | $91.55B | 36.7 | 28.6 | 3.4 | +4.9% |
| Hilton | $321.53 | −0.16% | $72.44B | 47.3 | 33.6 | 5.8 | +6.5% |
| InterContinental Hotels Group (ADR) | $162.38 | +0.05% | $23.99B | 34.0 | — | 4.5 | +4.7% |
| Hyatt Hotels | $171.02 | −0.73% | $16.33B | 210.1 | 44.5 | 2.6 | −0.5% |
| Wyndham Hotels & Resorts | $76.02 | +0.03% | $5.64B | 27.9 | 15.5 | 4.0 | −5.5% |
| Choice Hotels International | $108.86 | +0.02% | $4.95B | 15.4 | 15.2 | 3.1 | +3.4% |
| Booking | $205.82 | +0.10% | $159.34B | 22.8 | 18.5 | 5.6 | +8.2% |
| Airbnb | $189.63 | +0.10% | $112.43B | 43.2 | 33.6 | 8.5 | +16.5% |
| Median | 34.0 | 26.1 | 4.5 | +4.7% |