The raised RevPAR and EPS guidance signal accelerating demand momentum, particularly in U.S. & Canada. Watch Q4 results for continued RevPAR acceleration and the impact of the new co-branded credit card agreements with JPMorgan Chase and American Express, which are expected to contribute incrementally in the second half.
How the stock moved after the report
⚠ Clustered BULLISH VIEWSTOCK ABOVE ENTRY AT T+1- T+0 · Nov 2 $416.30entry
- T+1 · yesterday +0.02%α −0.28% · $416.38
- T+2 · todayOpen
- T+5 · in 4d Pending
- T+20 · in 26d Pending
- T+60 · in 3mo Pending
Price Chart
REPLAYWatch the reaction play outHow similar events traded
Executive Summary
Marriott reported Q3 2026 results with strong operational performance: worldwide RevPAR grew 6.5% (U.S. & Canada +7.4%, international +4.4%), reported diluted EPS of $3.04 vs $2.67 a year ago, and adjusted diluted EPS of $3.02 vs $2.47. The company raised its full-year 2026 RevPAR growth outlook to 4.5%-5.0% from 3.0%-3.5% and guided Q4 adjusted EPS of $3.14-$3.21. Net income rose 9% to $794 million. The results exceeded consensus estimates of $2.85 EPS and $6.92B revenue.
Key Financial Metrics
Key Facts
- Q3 2026 worldwide RevPAR increased 6.5% year-over-year, with U.S. & Canada up 7.4% and international up 4.4%
- Reported diluted EPS of $3.04 vs $2.67 in Q3 2025; adjusted diluted EPS of $3.02 vs $2.47
- Reported net income of $794 million, up 9% from $728 million in Q3 2025
- Adjusted EBITDA of $1,512 million, up 12% from $1,349 million in Q3 2025
- Full-year 2026 RevPAR growth outlook raised to 4.5%-5.0% from prior 3.0%-3.5%
- Q4 2026 adjusted EPS guidance of $3.14-$3.21; full-year adjusted EPS guidance raised to $12.07-$12.14
- Gross fee revenues of $1,522 million, up 14% year-over-year, driven by higher co-branded credit card fees, RevPAR, and rooms growth
- Net rooms grew 4.6% year-over-year; development pipeline reached record ~634,000 rooms
- Company repurchased 3.5 million shares for $1.3 billion in Q3; year-to-date returned ~$4.0 billion to shareholders
- Issued $250M of 4.875% notes due 2029 and $1.0B of 5.650% notes due 2036; refinanced credit facility to $5.0B through 2031
Financial Impact
Reported EPS of $3.04 beat consensus of $2.85 by 6.7%; revenue of $7.005B beat consensus of $6.92B by 1.2%. Full-year adjusted EPS guidance raised to $12.07-$12.14 from prior $11.64-$11.81.
Risk Factors
- Middle East conflict continues to impact regional RevPAR, though trends improved from Q2
- Higher interest expense from increased debt balances and new note issuances
- Owned/leased hotel results declined due to renovations and asset sales
- International RevPAR growth of 4.4% lags U.S. & Canada, with Greater China RevPAR slightly negative
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001048286-26-000040 |
| Document: mar-20261102.htm | 0001048286-26-000040 |
| Document: 0001048286-26-000040-index-headers.html | 0001048286-26-000040 |
| Document: 0001048286-26-000040-index.html | 0001048286-26-000040 |
| Document: 0001048286-26-000040.txt | 0001048286-26-000040 |
| 8-K Data (Synthetic) | 0001048286-26-000040 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 4, 2026 today | 144 | $423.32 | awaiting T+1 | awaiting T+1 | $424.87 (+0.37%) |
Nov 4, 2026 today | 144 | $423.80 | awaiting T+1 | awaiting T+1 | $424.87 (+0.25%) |
Nov 4, 2026 today | 144 | $423.86 | awaiting T+1 | awaiting T+1 | $424.87 (+0.24%) |
Nov 4, 2026 today | 144 | $416.81 | awaiting T+1 | awaiting T+1 | $424.87 (+1.93%) |
Nov 3, 2026 2d ago | Court Ruling | $421.25 | awaiting T+1 | awaiting T+1 | $424.87 (+0.86%) |
Nov 2, 2026 2d ago | 8-K | $416.30 $416.38 | ▲ +0.02% | ▼ −0.28% | $424.87 (+2.06%) |
Oct 26, 2026 9d ago | Institutional Cluster | $394.75 $390.23 | ▲ +1.15% | ▲ +1.71% | $424.87 (−7.63%) |
Sep 29, 2026 5w ago | Insider Cluster | $355.67 $354.79 | ▼ −0.25% | ▼ −0.43% | $424.87 (+19.46%) |
Sep 29, 2026 5w ago | Insider Cluster | $355.67 $354.79 | ▼ −0.25% | ▼ −0.43% | $424.87 (+19.46%) |
Sep 25, 2026 5w ago | 144 | $352.03 $358.57 | ▲ +1.86% | ▲ +2.60% | $424.87 (+20.69%) |
US Market Status
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