Marriott International, Inc.
- Open
- 378.18
- Day high
- 384.20
- Day low
- 377.53
- Prev close
- 374.43
- Volume
- 1.3M
- Mkt cap
- $101.0B
- P/E (TTM)
- 40.2
- EPS (TTM)
- $9.53
- P/B
- -24.7
- P/S
- 3.8
- Yield
- 0.72%
- Per share
- $2.74
- ▼Insiders net selling -$2.8M over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions mixed (13F)
Marriott International, Inc. (MAR) is a Consumer Cyclical company listed on NASDAQ. The stock is up 39% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4). Drillr has 1 published research article covering MAR.
Marriott International, Inc. (MAR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 12 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MAR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $2.56 | $2.72 | +6.3% | $6.7B | +1.0% |
| Nov 4, 2025 | $2.38 | $2.47 | +3.8% | $6.5B | +0.5% |
| Feb 11, 2025 | $2.37 | $2.45 | +3.4% | $6.4B | +0.4% |
| Jul 31, 2024 | $2.47 | $2.50 | +1.2% | $6.4B | -0.5% |
| May 1, 2024 | $2.17 | $2.13 | -1.8% | $6.0B | +0.5% |
| Feb 13, 2024 | $2.12 | $3.57 | +68.4% | $6.1B | -1.7% |
| Nov 2, 2023 | $2.11 | $2.11 | +0.0% | $5.9B | +0.7% |
| Aug 1, 2023 | $2.18 | $2.26 | +3.7% | $6.1B | +1.6% |
| May 2, 2023 | $1.84 | $2.09 | +13.6% | $5.6B | +3.8% |
| Feb 14, 2023 | $1.83 | $1.96 | +7.1% | $5.9B | +10.3% |
| Nov 3, 2022 | $1.68 | $1.69 | +0.6% | $5.3B | +0.2% |
| Aug 2, 2022 | $1.56 | $1.80 | +15.4% | $5.3B | +8.4% |
MAR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | Reid Grantdirector | Grant | 39 | $370.98 |
| Jul 2, 2026 | LEWIS AYLWIN Bdirector | Grant | 10 | $370.98 |
| May 19, 2026 | Roe Peggyofficer: EVP & Chf. Customer Officer | Sell | 3,000 | $361.56 |
| May 14, 2026 | Mao Yibingofficer: Pres. Greater China | Sell | 4,816 | $347.72 |
| May 13, 2026 | Tresvant Seandirector | Grant | 670 | — |
| May 13, 2026 | Reid Grantdirector | Grant | 670 | — |
| May 13, 2026 | Hill David Shawnofficer: EVP & Chf. Development Officer | Grant | 87 | $350.84 |
| May 13, 2026 | ROZANSKI HORACIOdirector | Grant | 670 | — |
| May 13, 2026 | Henderson Frederick A.director | Grant | 670 | — |
| May 13, 2026 | Harrison Deborah Marriottdirector, other: Member of 13(d) group | Grant | 670 | — |
| May 13, 2026 | McCarthy Margaret Mdirector | Grant | 670 | — |
| May 13, 2026 | Goren Isabella Ddirector | Grant | 670 | — |
| May 13, 2026 | SCHWAB SUSAN Cdirector | Grant | 670 | — |
| May 13, 2026 | LEWIS AYLWIN Bdirector | Grant | 670 | — |
| May 13, 2026 | Hobart Lauren Rdirector | Grant | 670 | — |
Source: MAR SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full MAR insider & 13F page →Marriott International, Inc. company profile
Overview
Marriott International, Inc. (NASDAQ:MAR) is one of the world's largest hospitality companies, founded in 1927 and headquartered in Bethesda, Maryland. What began as a root beer stand has evolved into a global hospitality empire operating, franchising, and licensing hotel properties across 139 countries and territories. The company went public in 1998 and has since grown to manage approximately 8,000 properties under 30 distinct hotel brands, ranging from luxury resorts to budget-friendly accommodations. Marriott operates through an asset-light business model, primarily earning fees from franchise agreements rather than owning real estate directly.
Business
Marriott International operates in the hospitality and lodging industry, serving as a hotel management, franchise, and licensing company rather than a traditional real estate owner. The company's core business revolves around managing hotel operations and licensing its brand names to property owners worldwide. The company operates through two primary geographic segments: U.S. and Canada (approximately 60% of revenue) and International (approximately 40% of revenue). Marriott's portfolio spans the entire hospitality spectrum through 30 distinct brands, organized into several tiers: Luxury brands include JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St. Regis, EDITION, and Bulgari. These properties command premium rates and cater to affluent travelers seeking high-end experiences. Premium and upper-upscale brands encompass Marriott Hotels, Sheraton, Westin, Renaissance, Le Méridien, and the Autograph Collection. These represent the company's traditional full-service offerings targeting business and leisure travelers. Select-service and extended-stay brands include Courtyard, Residence Inn, Fairfield by Marriott, SpringHill Suites, TownePlace Suites, and AC Hotels. These properties offer limited services at moderate price points, often targeting business travelers and extended stays. Mid-scale and economy brands feature Four Points, Aloft, Element, Moxy, and the recently launched City Express by Marriott, designed to capture price-conscious travelers while maintaining brand standards. The company also operates Marriott Vacation Club, focusing on timeshare and residential properties, and has expanded into unique hospitality experiences through brands like Gaylord Hotels and Design Hotels.
Revenue model
Marriott generates revenue through an asset-light business model that focuses on management fees, franchise fees, and licensing agreements rather than property ownership. The company earns money through several key revenue streams: Management and franchise fees represent the largest revenue source, typically calculated as a percentage of gross room revenue (usually 4-6% for base fees) plus incentive fees tied to property performance. These fees provide steady, recurring income with minimal capital investment. Loyalty program revenue comes from the Marriott Bonvoy program, which has grown to 237 million members. The program generates income through credit card partnerships, point sales to partners, and increased direct bookings that reduce distribution costs. Owned and leased properties contribute a smaller portion of revenue, as Marriott has strategically reduced its real estate footprint over the years. These properties generate traditional hotel operating revenue but require significant capital investment. Other revenue streams include residential and timeshare sales, licensing fees for co-branded credit cards, and various ancillary services. The company's margins are influenced by several factors that can increase profitability: strong travel demand, particularly in business and group segments; successful loyalty program expansion; conversion of independent hotels to Marriott brands; and operational efficiency improvements through technology investments. Conversely, factors that pressure margins include economic downturns that reduce travel demand, increased competition from alternative accommodations like Airbnb, rising labor costs in hospitality markets, and geopolitical events that impact international travel. The company's heavy exposure to business travel makes it particularly sensitive to corporate spending patterns and economic cycles.
Competitive moat
Marriott's competitive moat stems from several interconnected advantages, though the strength varies across different aspects of the business. The company's most significant moat lies in its massive scale and brand portfolio, which creates substantial barriers to entry for competitors seeking to match its global reach and diverse brand offerings. The Marriott Bonvoy loyalty program represents a particularly strong defensive position, with 237 million members generating 68% of room nights. This creates switching costs for frequent travelers and provides valuable customer data that competitors cannot easily replicate. The program's scale enables lucrative partnerships with credit card companies and other travel providers. Network effects strengthen Marriott's position as the company grows. Property owners benefit from the reservation system, brand recognition, and operational expertise, while guests enjoy consistent experiences and loyalty benefits across thousands of locations. This creates a self-reinforcing cycle where more properties attract more guests, which in turn attracts more property owners. However, Marriott faces meaningful competitive threats. Alternative accommodation platforms like Airbnb and Vrbo have captured significant market share, particularly in leisure travel. These platforms offer unique properties and often lower prices, though they lack the consistency and services of traditional hotels. Technology disruption poses ongoing challenges, as new booking platforms and travel apps reduce Marriott's control over customer relationships. The company's moat is moderately strong but not impregnable. While the loyalty program and scale advantages provide meaningful protection, the hospitality industry remains highly competitive with relatively low switching costs for many travelers. Independent hotels can still compete effectively on price and unique experiences, and economic downturns can quickly erode the value of brand premiums.
Risks & safety
Marriott's margin of safety appears moderate to weak based on current financial metrics, with some concerning leverage and valuation characteristics: Liquidity and Solvency: • Current ratio of 0.45 indicates potential short-term liquidity concerns • Cash position of $523 million is relatively modest for a company of this size • Negative shareholders' equity of approximately -$3.2 billion due to aggressive capital returns and acquisitions • Debt-to-equity ratio of -5.0 reflects the negative equity situation • However, strong operating cash flow of $2.7 billion annually provides financial flexibility Valuation Metrics: • P/E ratio of 24.9x appears reasonable for a quality franchise business • EV/EBITDA of 19.3x suggests modest premium valuation • Price-to-book ratio is not meaningful due to negative book value Other Considerations: • Asset-light model reduces capital requirements but creates dependence on fee income • Strong free cash flow generation of $2.0 billion annually supports dividend and buyback programs • Cyclical nature of hospitality business creates earnings volatility risk
Recent development
Over the past few years, Marriott has pursued several strategic initiatives to strengthen its market position and adapt to changing travel patterns. The company has focused heavily on expanding its mid-scale portfolio through acquisitions and new brand launches, recognizing the growing demand for affordable yet branded accommodations. The acquisition of the citizenM portfolio in 2025 and the earlier City Express acquisition demonstrate this strategic focus. Technology transformation represents a major multi-year initiative, with the company planning to roll out new property management, reservations, and loyalty systems beginning in 2025. This digital overhaul aims to improve operational efficiency, enhance guest experiences, and create new revenue opportunities through better data utilization and booking capabilities. The company has also implemented a corporate efficiency initiative targeting $80-90 million in annual cost savings beginning in 2025. This program focuses on streamlining decision-making processes and enhancing operational effectiveness across the organization. Loyalty program expansion has been a consistent priority, with Marriott Bonvoy growing from 196 million members in 2023 to 237 million in 2025. The company has enhanced the program with new partnerships, including the strategic MGM licensing agreement, and launched Business Access by Marriott Bonvoy to capture small and medium corporate accounts. Development activity has remained robust despite economic uncertainty, with record signing activity and a pipeline exceeding 587,000 rooms. The company has emphasized conversion opportunities, which now represent about one-third of signings and openings, allowing for faster growth with lower capital requirements.
MAR company profile · for informational purposes only — not investment advice.
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