Marriott International (MAR) investor relations material

Executive summary

• Q2 2026 global RevPAR increased 3.4%, with U.S./Canada up 5.0%—the highest in 13 quarters—while international RevPAR declined 0.5% due to Middle East conflict.

• Net rooms grew 4.5% year-over-year, expanding the system to over 1.8 million rooms and 10,082 properties, with 17,900 net rooms added in Q2 and a record pipeline of 629,000 rooms.

• Record global signings and conversions in H1 2026, with conversions representing 34% of signings and 40% of openings.

• New long-term U.S. co-branded credit card agreements expected to drive incremental fee growth and loyalty engagement.

• Net income for Q2 2026 was $766 million, with Adjusted net income at $844 million and Adjusted diluted EPS at $3.19.

Financial highlights

• Total gross fee revenues rose 13% year-over-year to $1.58 billion in Q2, with franchise and base management fees up 14% to $1,366 million.

• Adjusted EBITDA grew 13% to $1.59 billion; Adjusted operating income was $1,329 million, up from $1,186 million.

• Diluted EPS for Q2 2026 was $2.90; Adjusted diluted EPS up 20% to $3.19.

• Owned, leased, and other revenue net of expenses was $49 million, down from $78 million, due to a $27 million litigation accrual and lower termination fees.

• Depreciation, amortization, and other expenses rose to $115 million, including a $68 million impairment charge from a hotel sale.

Outlook and guidance

• Raised full-year 2026 global RevPAR growth guidance to 3%-3.5%; net rooms growth expected at the low end of 4.5%-5%.

• Full-year gross fee revenues expected to rise 11% to $6.03-$6.06 billion; Adjusted EBITDA projected at $5.97-$6.03 billion.

• Adjusted diluted EPS guidance for 2026 is $11.64 to $11.81, up 16%-18%.

• Investment spending for 2026 increased to $1.25-$1.35 billion, with 40%-45% for contract acquisition and 25% for digital tech transformation.

• Over $4.5 billion expected to be returned to shareholders in 2026 via buybacks and dividends.