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Sentiment · FY2026 Q2
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $6.43B | +5.5% | $1.62 | -43.6% | 11.7% | 7.1% | $-24M |
| FY2025 Q1 | $6.26B | +4.8% | $2.39 | +23.8% | 15.1% | 10.6% | $512M |
| FY2025 Q2 | $6.74B | +4.7% | $2.78 | +3.3% | 18.3% | 11.3% | $778M |
| FY2025 Q3 | $6.49B | +3.7% | $2.67 | +29.0% | 18.2% | 11.2% | $951M |
| FY2025 Q4 | $6.69B | +4.1% | $1.65 | +1.9% | 11.6% | 6.7% | $657M |
| FY2026 Q1 | $6.65B | +6.2% | $2.41 | +0.8% | 16.0% | 9.7% | $728M |
| FY2026 Q2 | $7.07B | +4.8% | $2.84 | +2.2% | 17.4% | 10.8% | $1.08B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Conor Cunningham | Melius Research | 9 (0%) |
| Brandt Montour | Barclays | 9 (11%) |
| Shaun Kelley | Bank of America |
| Dave Katz | Jefferies | 8 (0%) |
| Duane Pfennigwerth | Evercore ISI | 8 (13%) |
| Stephen Grambling | Morgan Stanley | 8 (0%) |
| Lizzie Dove | Goldman Sachs | 8 (0%) |
| Aryeh Klein | BMO Capital Markets | 7 (0%) |
| Robin Farley | UBS | 7 (0%) |
| Michael Bellisario | Robert W. Baird | 6 (17%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Bank of America | 1 | 9 (0%) |
| Melius Research | 1 | 9 (0%) |
| Barclays | 1 | 9 (11%) |
| Jefferies | 1 | 8 (0%) |
| Goldman Sachs | 1 | 8 (0%) |
| Evercore ISI | 1 | 8 (13%) |
| Morgan Stanley | 1 | 8 (0%) |
| Citigroup | 2 | 7 (0%) |
Gross fee revenue surged 12% to $1.43 billion with Q1 RevPAR of 4.2% outperforming expectations, and adjusted EPS rose 17% to $2.72. The record development pipeline reached 618,000 rooms while fee revenue accelerated across all categories, including credit card renegotiation progress with major partners. Management raised FY2026 EBITDA guidance to $5.88-$5.97 billion and gross fee guidance to $5.93-$5.99 billion.
Demand | Revenue Growth | Geographic Expansion | Competitive Dynamics | Macroeconomic | Capital Allocation | Guidance Reliability | Innovation & R&D | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 7 | 3 | 4 | 2 | 7 | 3 | 1 |
| 2025Q1 | 9 | 6 | 8 | 2 | 4 | 1 | 4 | 1 |
| 2025Q2 | 6 | 5 | 2 | 2 | 2 | 1 | 2 | 3 |
| 2025Q3 | 3 | 4 | 4 | 4 | 1 | 2 | 1 | 2 |
| 2025Q4 | 3 | 5 | 2 | 2 | 2 | 1 | 1 | 2 |
| 2026Q1 | 8 | 3 | 2 | 4 | 4 | 1 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 4 | 9 | 6 | 3 | 3 | 8 |
| Revenue Growth | 7 | 6 | 5 | 4 | 5 | 3 |
| Geographic Expansion | 3 | 8 | 2 | 4 | 2 | 2 |
| Competitive Dynamics | 4 | 2 | 2 | 4 | 2 | 4 |
| Macroeconomic | 2 | 4 | 2 | 1 | 2 | 4 |
| Capital Allocation | 7 | 1 | 1 | 2 | 1 | 1 |
| Guidance Reliability | 3 | 4 | 2 | 1 | 1 | |
| Innovation & R&D | 1 | 1 | 3 | 2 | 2 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
MAR Marriott International | 8 | +6.2% | |
| HLT Hilton Worldwide | 9 | +9.0% |
What MAR and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“drove increased production from our strategic relationship with Marriott.”
MGM credits its strategic Marriott partnership (MGM Collection with Marriott Bonvoy) with driving increased convention and room production in Las Vegas.
“The 743,000 square-foot building is fully leased to Marriott and sold for a gross price of $430 million or $589 a square foot and a 6.8% initial cap rate.”
Marriott is the sole anchor tenant of its Bethesda headquarters building (fully leased), which BXP developed and profitably sold its 50% interest in during the quarter.
“extending our relationship with Marriott across the region”
Global Payments extended its hospitality-vertical relationship with Marriott across Asia Pacific.
“I think you're still the largest hotel owner for Marriott. I wonder if you could quantify if their recent change in the split of economics with the Bonvoy program, did that help or hurt you for Q1 or for the full year, you know, in either direction?”
As Marriott's largest hotel owner, Host said Marriott's recent change to Bonvoy loyalty-program economics has been a net benefit, a read-through on how the program change affects large owners.
“whether that is Google's AI mode travel product, whether that's being one of the first participants in travel with OpenAI on their ad pilot program”
Marriott is an early participant in OpenAI's travel ad pilot program, a read-through to OpenAI's commerce/advertising monetization in travel.
“whether that is Google's AI mode travel product, whether that's being one of the first participants in travel with OpenAI on their ad pilot program”
Marriott is working with Google on its AI mode travel product, positioning Google's AI search as a travel distribution channel.
“Our discussions with Visa, Chase and American Express are going well, and we still expect to have new deals in place later this year.”
Marriott is renegotiating co-branded credit card deals with American Express, a read-through to Amex's card partnership with Marriott's loyalty program.
“Our discussions with Visa, Chase and American Express are going well, and we still expect to have new deals in place later this year.”
Marriott is renegotiating co-branded credit card deals with Chase (JPMorgan), supporting Chase's card-issuing partnership with Marriott Bonvoy.
“Our discussions with Visa, Chase and American Express are going well, and we still expect to have new deals in place later this year.”
Marriott is renegotiating its co-branded credit card program with Visa, a read-through to Visa's payments network partnership with a major lodging loyalty program.
“we announced that Lefay, our first brand dedicated exclusively to luxury wellness is expected to enter our portfolio later this year.”
Marriott is investing in Lefay to add a luxury wellness brand to its portfolio, driving an uptick in Marriott's investment spend.
“another agreement with Sun Group to add 10 hotels across 8 brands in Vietnam over the next few years.”
Marriott signed a multiunit development deal with Sun Group to add 10 hotels in Vietnam, a read-through to Sun Group's hospitality development pipeline.