Key Highlights

  • Global RevPAR rose 6.5% in the quarter, with U.S. and Canada up 7.4% and luxury RevPAR up 12%.
  • Adjusted EBITDA increased 12% to USD 1.51 billion, and adjusted diluted EPS rose 22% to USD 3.02.
  • The development pipeline reached a record of over 634,000 rooms, with 278,000 rooms under construction.
  • Full-year global RevPAR guidance rose to growth of 4.5% to 5%, versus 1.5% to 2.5% initially.

Strong RevPAR Across Segments

Marriott International, Inc. (NASDAQ:MAR) reported third-quarter 2026 global RevPAR growth of 6.5%, above its prior expectations. U.S. and Canada RevPAR rose 7.4%, or 6.2% excluding the World Cup, led by luxury and resort at 12% with select service up over 6%. International RevPAR rose over 4%, with Asia Pacific excluding China up more than 9%, Greater China about flat after typhoons and uneven consumer spending, the Caribbean and Latin America up over 3%, and EMEA up over 4%.

Middle East RevPAR declined 12%, an improvement from a decline of over 40% in the second quarter. Leisure RevPAR rose 7% globally and 9% in the U.S. and Canada, group rose 6% and 7%, and Business transient rose 4% and 5%. Europe RevPAR rose over 6%, with strength across key markets and segments, and Marriott's chief executive described travel Demand as remarkably robust despite geopolitical uncertainty.

Earnings and Development

Adjusted EBITDA increased 12% to USD 1.51 billion, and adjusted diluted EPS rose 22% to USD 3.02, with general and administrative expense up just 2%. Net rooms grew 4.6% over the twelve months ended September 30, and the company achieved record global organic signings in the first nine months, with conversions accounting for over a third of signings and over 40% of openings.

The pipeline grew over 6% to a record of over 634,000 rooms, and 278,000 rooms are under construction including pending conversions.

Raised Guidance

Full-year global RevPAR growth is now guided to 4.5% to 5%, up from 1.5% to 2.5% at the start of the year, reflecting third-quarter outperformance and a stronger fourth-quarter outlook, with the World Cup adding about 45 basis points to the full-year figure. Gross fees are guided to rise around 13%, with incentive management fees rising in the high single digits, and full-year adjusted EBITDA is guided to rise around 13%. Adjusted diluted EPS growth is guided to 20% to 21%, aided by a meaningful reduction in share count.

Fourth-quarter adjusted EBITDA is guided to rise 12% to 14%. Investment spending is still guided to USD 1.25 billion to USD 1.35 billion, with key money at 40% to 45%. Net rooms growth is guided toward the low end of a 4.5% to 5% range, including a typical assumption of 1% to 1.5% room deletions, and management anticipates mid-single-digit net rooms growth over the next several years. Residential branding fees are guided to rise over 90%.

Demand and Development Indicators

A 1% change in full-year RevPAR corresponds to about USD 55 million to USD 65 million of RevPAR-related fees. Items to track include Greater China demand, the Middle East recovery, conversion momentum and co-branded Credit card fees, guided to rise in the high 30% range. Management said it remains deeply committed to working alongside hotel owners and to leveraging its industry-leading scale.