Marriott International Reports Third Quarter 2025 Results

Here’s a comprehensive summary of Marriott International’s Q3 2025 earnings report, which highlights strong growth, strategic expansion, and robust shareholder returns.

Financial Performance
- Revenue Per Available Room (RevPAR):
- Global: ↑ 0.5%
- International: ↑ 2.6%
- U.S. & Canada: ↓ 0.4% (due to reduced government travel)
- Net Income:
- Reported: $728 million (↑ 25% YoY)
- Adjusted: $674 million
- Diluted EPS:
- Reported: $2.67
- Adjusted: $2.47
- Adjusted EBITDA: $1.349 billion (↑ 10% YoY)

Growth & Development
- Net Rooms Added: ~17,900 in Q3
- Global System Size: Over 9,700 properties, ~1.75 million rooms
- Development Pipeline: Record high of ~3,900 properties and 596,000+ rooms
- Conversion Momentum: ~1/3 of signings and openings were conversions

Market Highlights
- Luxury Segment: RevPAR ↑ 4%, driven by strong demand and rate performance
- APEC Region: Nearly 5% RevPAR growth, led by Japan, Australia, and Vietnam
- Marriott Bonvoy:
- Added 12 million members in Q3
- Total membership: ~260 million
- Penetration: 75% in U.S. & Canada, 68% globally

Shareholder Returns
- Q3 Share Repurchases: 3 million shares for $0.8 billion
- YTD Returns: ~$3.1 billion via dividends and buybacks
- 2025 Target: ~$4.0 billion in total shareholder returns

Executive Commentary
Anthony Capuano, President & CEO:
> “Our third quarter results demonstrated continued strong execution of our growth strategy, the power of our brands, and the cash flow benefits of our asset-light business model.”