Marriott Raises Annual Outlook as North American Demand Accelerates
Adjusted diluted earnings per share rose 20% to $3.19 in the second quarter.
Marriott International (MAR), the hotel chain, reported second-quarter results that showed a divergence between strengthening North American performance and a downturn in international markets.
The company raised its full-year 2026 global revenue per available room (RevPAR) growth guidance to a range of 3.0% to 3.5%. This represents an increase from the 1.5% to 2.5% projection provided in February 2026.
Adjusted diluted EPS rose 20% year-over-year to $3.19, compared to $2.65 in the second quarter of 2025. Adjusted EBITDA increased 13% to $1,592 million, up from $1,415 million in the prior-year period.
Worldwide RevPAR growth slowed to 3.4% year-over-year, down from 4.2% in the first quarter. The deceleration was driven by international RevPAR, which shifted from 4.6% growth in the first quarter to a 0.5% decline in the second quarter, following a 43% decline in the Middle East.
Performance in the U.S. and Canada offset international weakness. RevPAR growth in that region accelerated to 5.0% year-over-year from 4.0% in the first quarter. Franchise and base management fees grew 14% to $1,366 million.
The company expanded its scale and loyalty reach during the period. Marriott Bonvoy membership grew to over 295 million members, up from nearly 283 million at the end of the first quarter. The development pipeline increased to approximately 629,000 rooms from nearly 618,000 rooms in the previous quarter.
Marriott executed new long-term agreements for its U.S. co-branded credit card program with American Express and JPMorgan Chase. The company also recorded a $68 million impairment charge related to the sale of a hotel in the U.S. and Canada.
Share repurchases accelerated in the second quarter. The company spent $1.1 billion to buy back 3.0 million shares, compared to $0.7 billion for 2.1 million shares in the first quarter.