MARRIOTT INTERNATIONAL INC /MD/

For the period ended Mar 31, 2026. Filed May 6, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 6, 2026

MAR$428.26+2.7%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Income

(in millions, except per share amounts)

	Three Months Ended
	March 31, 2026	March 31, 2025
REVENUES
Franchise fees	$872	$746
Base management fees	339	325
Incentive management fees	222	204
Gross fee revenues	1,433	1,275
Contract investment amortization	(35)	(28)
Net fee revenues	1,398	1,247
Owned, leased, and other revenue	412	361
Cost reimbursement revenue	4,844	4,655
	6,654	6,263
OPERATING COSTS AND EXPENSES
Owned, leased, and other expense (1)	377	332
Depreciation, amortization, and other	54	51
General and administrative (1)	219	209
Restructuring and merger-related charges, and other	4	1
Reimbursed expenses	4,936	4,722
	5,590	5,315
OPERATING INCOME	1,064	948
Gains (losses) and other income, net	3	(2)
Interest expense	(214)	(192)
Interest income	10	9
Equity in (losses) earnings	(5)	1
INCOME BEFORE INCOME TAXES	858	764
Provision for income taxes	(210)	(99)
NET INCOME	$648	$665
EARNINGS PER SHARE
Earnings per share – basic	$2.44	$2.40
Earnings per share – diluted	$2.43	$2.39

(1)The 2025 first quarter reflects the reclassification of $36 million of other expenses previously reported under the “General, administrative, and other” caption to the “Owned, leased, and other expense” caption of our Income Statements to conform to our current presentation.

ContentsView on SEC.gov

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