Marriott's earnings call highlighted strong international growth and expansion in their pipeline and luxury segment. However, challenges in the U.S. and Canada, softness in group bookings, and declines in Greater China and government demand presented significant hurdles. The highlights and lowlights provide a balanced view of Marriott's current performance and future outlook.

Company Guidance -

Q3 2025

During the Marriott International Q2 2025 earnings call, the company provided guidance indicating strong financial results despite macroeconomic uncertainty. The company's pipeline saw a record level, with net rooms growing by 4.7% since Q2 2024. Global RevPAR increased by 1.5%, with international RevPAR rising over 5%, led by APAC and EMEA regions. However, Greater China saw a slight decline of 0.5%. In the U.S. and Canada, RevPAR was flat year-over-year, although luxury RevPAR increased by 4%. The company expects full-year RevPAR growth to be at the lower end of the previous estimate, between 1.5% and 2.5%. Deal signings in Q2 rose by 35% year-over-year, contributing to a pipeline of over 590,000 rooms, with 40% under construction. The company continues to focus on conversions, which represented nearly 30% of room signings and openings in the year's first half. The guidance also highlighted anticipated G&A expense reductions of 8% to 10% in 2025, with adjusted EBITDA projected to increase by 7% to 8%.

Record Pipeline Growth

Marriott's pipeline reached a record level with net rooms growing 4.7% since the end of the 2024 second quarter. Deal signings rose 35% with every region signing more projects than in the same quarter last year.

Strong RevPAR in International Markets

International RevPAR rose over 5%, led by growth in both APAC and EMEA. RevPAR in APAC increased by 9%, with Japan and Australia experiencing double-digit growth. EMEA's RevPAR rose 7%.

Increased Loyalty Program Membership

Marriott Bonvoy loyalty program grew to nearly 248 million members at the end of June, with member penetration reaching a record 69% of rooms globally.

Increase in Adjusted EBITDA

Adjusted EBITDA rose 7% to $1.42 billion, reflecting robust financial performance and cost management.

Expansion in Luxury Segment

Marriott's global luxury portfolio expanded, with plans to open 27 additional luxury properties this year. The luxury segment outperformed with RevPAR up 4%.

Marriott International (MAR) Earnings, Revenues Date & History

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MAR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	2.42 / -	2.26	―	―	―
Aug 05, 2025	2025 (Q2)	2.61 / 2.65	2.5	6.00% (+0.15)	―
May 06, 2025	2025 (Q1)	2.25 / 2.32	2.13	8.92% (+0.19)	―
Feb 11, 2025	2024 (Q4)	2.39 / 2.45	3.57	-31.37% (-1.12)	―
Nov 04, 2024	2024 (Q3)	2.31 / 2.26	2.11	7.11% (+0.15)	―
Jul 31, 2024	2024 (Q2)	2.47 / 2.50	2.26	10.62% (+0.24)	―
May 01, 2024	2024 (Q1)	2.16 / 2.13	2.09	1.91% (+0.04)	―
Feb 13, 2024	2023 (Q4)	2.12 / 3.57	1.96	82.14% (+1.61)	―
Nov 02, 2023	2023 (Q3)	2.10 / 2.11	1.69	24.85% (+0.42)	―
Aug 01, 2023	2023 (Q2)	2.17 / 2.26	1.8	25.56% (+0.46)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MAR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	$259.13	$259.72	+0.23%
May 06, 2025	$246.63	$251.31	+1.90%
Feb 11, 2025	$302.99	$286.62	-5.40%
Nov 04, 2024	$258.74	$254.63	-1.59%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.