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Sep 30, 2025
Marriott Q3 2025 Earnings Report
Marriott reported solid earnings growth in Q3 2025, supported by global expansion and record development activity.
Key Takeaways
Marriott delivered strong Q3 results with $728M in net income and $6.49B in revenue. The company added nearly 17,900 net rooms and reached a new pipeline record. While U.S. & Canada RevPAR slightly declined, international markets showed resilience.
Added 17,900 net rooms globally in Q3
Adjusted EBITDA rose to $1.35B
International RevPAR grew 2.6% while U.S. & Canada declined 0.4%
Development pipeline hit record 596,000+ rooms
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Marriott expects continued RevPAR growth and plans to return $4B to shareholders in 2025.
Positive Outlook
- RevPAR growth of 1.0% to 2.0% expected in Q4
- Net rooms growth approaching 5% for FY25
- Adjusted EPS guidance of $2.54 to $2.62 for Q4
- Strong cash flow generation supports shareholder returns
- citizenM acquisition to be integrated in Q4
Challenges Ahead
- Macroeconomic uncertainty remains a risk
- RevPAR in U.S. & Canada declined in Q3
- Lower incentive fees from U.S. & Canada properties
- Higher interest expense due to increased debt levels
- Global calendar shifts affected Q3 performance
Historical Earnings Impact
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Avg. Return Before/After Earnings
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