Marriott: Stronger-Than-Expected 2026 Growth and Fee Upside Underpin Buy Rating

Analyst Ari Klein of BMO Capital reiterated a Buy rating on Marriott International, boosting the price target to $400.00.

Ari Klein has given his Buy rating due to a combination of factors tied to Marriott’s stronger-than-anticipated 2026 outlook. He highlights that net unit growth guidance of 4.5–5.0% exceeds both prior expectations and 2025 levels, helped by robust conversion activity and a double‑digit increase in the under‑construction pipeline, which alleviates earlier investor concerns about growth.

At the same time, he notes that projected gross fee income for 2026 is running ahead of both his and the Street’s estimates, driven in part by a sizable step‑up in co‑brand credit card fees from higher royalty rates and expanding residential branding fees. Klein also points out that these projections do not yet reflect potential upside from the upcoming credit card renewal, and that Marriott’s upscale portfolio remains well placed despite a mixed demand backdrop, supporting higher earnings estimates and justifying a Buy recommendation.

In another report released on February 3, Bernstein also maintained a Buy rating on the stock with a $369.00 price target.

Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MAR in relation to earlier this year.