During the company’s second-quarter 2026 earnings call with investors, Marriott International President & CEO Tony Capuano said the quarter was “very strong,” with revenue per available room and financial results “above our prior expectations.”
During the quarter, worldwide RevPAR increased 3.4 percent (a 3.9 percent increase using actual dollars) compared to the same quarter in 2025. RevPAR in the U.S. & Canada increased 5 percent (a 5.1 percent increase using actual dollars), and RevPAR in international markets declined 0.5 percent (a 1 percent increase using actual dollars) compared to the 2025 second quarter.
The numbers reflect shifts both year over year and quarter over quarter. The company’s Q1 RevPAR growth was more balanced at 4.2 percent worldwide, 4 percent in the U.S. & Canada and 4.6 percent internationally. A year ago, international markets were the growth engine, with worldwide RevPAR up 1.5 percent, international up 5.3 percent and U.S. & Canada in line with 2024.
This quarter, the U.S. & Canada became the stronger performer, and Capuano said the conflict in the Middle East was “weighing” on international results. RevPAR in the Europe, Middle East and Africa region declined just over 5 percent, he said, as “solid performance” in Europe was offset by a “meaningful decline” in the Middle East.
Marriott is planning a new Intent-to-Recommend incentive in the U.S. and Canada that will provide a fee discount for top hotels that receive strong guest satisfaction scores. EVP and CFO Jen Mason noted that Marriott will pay for the discount rather than drawing from system funds. “We view this as a reinvestment in our business that benefits our owners, enhances the experiences of our guests, and further strengthens Marriott’s brand equity,” she said.
Income and Earnings
Marriott’s reported operating income totaled $1.23 billion in the 2026 second quarter, compared to 2025 second quarter reported operating income of $1.24 billion. Reported net income totaled $766 million in the 2026 second quarter, flat compared to 2025 second quarter reported net income of $763 million.
Adjusted operating income in the 2026 second quarter totaled $1.33 billion, compared to 2025 second quarter adjusted operating income of $1.18 billion. Second quarter 2026 adjusted net income totaled $844 million, compared to 2025 second quarter adjusted net income of $728 million.
Adjusted earnings before interest, taxes, depreciation and amortization totaled $1.59 billion in the 2026 second quarter, a 13 percent increase compared to second quarter 2025 adjusted EBITDA of $1.41 billion.
Openings and Pipelines
The company added roughly 17,900 net rooms during the quarter, including approximately 11,000 net rooms in international markets. At the end of the quarter, Marriott’s global system totaled more than 10,000 properties, with nearly 1,814,000 rooms.
At the end of the quarter, the company’s worldwide development pipeline totaled 4,186 properties with approximately 629,000 rooms, including 253 properties with over 34,000 rooms approved for development but not yet subject to signed contracts. The quarter-end pipeline included 1,757 properties with more than 279,000 rooms under construction, including hotels in the process of converting. “Conversions, including multiunit deals, remain a significant driver of growth, representing 34 percent of signings and 40 percent of openings in the first half of the year,” Capuano said during the call. More than half of the rooms in the quarter-end pipeline were located in international markets.
Outlook and Guidance
Following the quarter, Marriott is raising its full-year 2026 guidance range to 3 to 3.5 percent global RevPAR growth, up from the Q1 guidance of 2 percent to 3 percent. Mason noted that Q3 RevPAR is expected to be helped by the strong World Cup performance, while the fourth quarter could see a “small negative impact” from November's midterm elections.
Capuano said the company is “quite bullish” on the global outlook. Beyond “continued strong global RevPAR growth” over the coming year, he noted potential in both rate and demand—“both across chain scales and across geographies outside the Middle East.” At the same time, he acknowledged that the FIFA World Cup games in June and July could skew future comparisons, but EMEA numbers could improve if the situation in the Middle East improves.