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How Marriott International (MAR) makes money: Q2 2026 revenue breakdown
US GAAP · $M · vs Q2 2025 · reported 08/03/2026
Marriott International, Inc. is an American multinational company that operates, franchises, and licenses lodging brands that include hotel, residential, and timeshare properties. · Wikipedia
More about the company
The company owns over 37 hotel and timeshare brands, with 9,000 locations and 1,597,380 rooms across its network. Headquartered in Bethesda, Maryland, the company is the successor to the hospitality division of the Marriott Corporation, which was founded by J. Willard Marriott (1900–1985) and his wife Alice Marriott (1907–2000).
Key growth driver: Net Fee Revenue — the fastest-growing revenue line: $1,547, +13% y/y. · by the Q2 2026 report
How does Marriott International make money?
Marriott International brought in $7.07 billion of revenue in Q2 2026, up 4.8% year over year. The largest source was Cost Reimbursement Revenue: $5.06 billion, or 72% of the total, followed by Net Fee Revenue ($1.55B, 22%) and Owned/Leased & Other Rev ($466M, 7%). Net income for the quarter was $766 million, up 0.4% year over year.
Revenue by source, Q2 2026
- Cost Reimbursement Revenue$5.06B · 72% · +3%
- Net Fee Revenue$1.55B · 22% · +13%
- Owned/Leased & Other Rev$466M · 7% · +6%
Shares of $7.07B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is MAR’s next earnings date?
Tuesday, November 3, 2026estimated
Marriott International (MAR) has not confirmed the date yet; Nov 3, 2026 is an estimate based on the company's past reporting schedule and may move once the date is announced. Consensus EPS forecast: $2.84 (8 analysts), vs $2.47 in the same quarter last year.
What time does MAR report? Usually before market open: the last 4 results releases reached the SEC at 7:00 am, 7:00 am, 7:00 am, 7:00 am ET.
Last report: Aug 3, 2026 (Q2 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$7,071
+4.8%
Operating income
$1,229
−0.6%
margin 17%
Net income
$766
+0.4%
diluted EPS $2.90
Verdict: a solid quarter with double-digit fee revenue growth (+13%) driven by co-branded card fees and RevPAR strength, but a one-off $68M impairment and a $27M litigation accrual masked underlying operating leverage, leaving reported operating income essentially flat and net income up just 0.4% y/y.
Repurchased 3.0M shares for $1.1B in Q2; YTD-through-July-29 capital returned ≈$2.6B; raised FY26 global RevPAR growth outlook to 3–3.5%; FY26 Adjusted EBITDA guided to $5,965–$6,025M.
Source and notation
* marks non-cash / ≈ estimated. Source: Marriott International press release / 10-Q (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
MAR earnings history: past report dates
| Aug 3, 2026 Mon | 7:00 ambefore market open | Jun 30, 2026 | $7.1B+5% y/y | $2.90+4% y/y |
| May 6, 2026 Wed | 7:00 ambefore market open | Mar 31, 2026 | $6.7B+6% y/y | $2.43+2% y/y |
| Feb 10, 2026 Tue | 7:00 ambefore market open | Dec 31, 2025 | ≈$6.7B+4% y/y | ≈$1.67+2% y/y |
| Nov 4, 2025 Tue | 7:00 ambefore market open | Sep 30, 2025 | $6.5B+4% y/y | $2.67+29% y/y |
| Aug 5, 2025 Tue | 7:00 ambefore market open | Jun 30, 2025 | $6.7B+5% y/y | $2.78+3% y/y |
| May 6, 2025 Tue | 7:01 ambefore market open | Mar 31, 2025 | $6.3B+5% y/y | $2.39+24% y/y |
| Feb 11, 2025 Tue | 7:30 ambefore market open | Dec 31, 2024 | ≈$6.4B+5% y/y | ≈$1.64−43% y/y |
| Nov 4, 2024 Mon | 7:21 ambefore market open | Sep 30, 2024 | $6.3B+6% y/y | $2.07−18% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Marriott International: 5-year financials
| 2025 | 26,186 | 4,141 | 2,601 | — | 718 |
| 2024 | 25,100 | 3,767 | 2,375 | 1,999 | 682 |
| 2023 | 23,713 | 3,864 | 3,083 | 2,718 | 587 |
| 2022 | 20,773 | 3,462 | 2,358 | 2,031 | 321 |
| 2021 | 13,857 | 1,750 | 1,099 | 994 | — |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP).
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Feb 2022In June 2021 the court granted Marriott's motion to dismiss the shareholder class action over the Starwood data breach. sec.gov ↗
- Dec 2020In 2020 Marriott posted a net loss of $267M and suspended its dividend; payments resumed in 2022 and rose to $2.64 per share in 2025. data.sec.gov ↗
- Feb 20262025 10-K: the only class of stock is Class A Common Stock; there are no other classes. sec.gov ↗
Scoring: 2.0, no deductions: single class of stock, share count −16% over 5 years; dividend suspended in 2020 amid a $267M net loss (permitted), then reinstated and rising; the 2018 shareholder suit over the data breach was dismissed by the court
- Share classes
- Single class — Class A Common Stock on Nasdaq (cover of 2025 10-K); no other classes.
- Dilution
- Diluted share count 2020→2025 −16.0% (XBRL); SBC 0.9% of revenue.
- Disclosure
- Full 10-K/10-Q reporting.
- Dividends
- 2020: payments suspended after Q1 amid a full-year net loss of $267M — not a deduction; reinstated from 2022, $1.00 (2022) → $2.64 (2025).
- Lawsuits & regulators
- The shareholder class action over the Starwood data breach (2018) was dismissed by the court in June 2021; no SEC disclosure cases.
- Related parties
- 2026 proxy: hotel transactions with related persons (the Marriott family) under pre-approved categories on market terms, overseen by the audit committee; no material off-market transactions.
How the score works · checked as of Sep 2026
Marriott International (MAR) earnings: FAQ
How does Marriott International make money?
Marriott International brought in $7.07 billion of revenue in Q2 2026, up 4.8% year over year. The largest source was Cost Reimbursement Revenue: $5.06 billion, or 72% of the total, followed by Net Fee Revenue ($1.55B, 22%) and Owned/Leased & Other Rev ($466M, 7%). Net income for the quarter was $766 million, up 0.4% year over year.
When is MAR's next earnings date?
Marriott International (MAR) has not confirmed the date yet; Nov 3, 2026 is an estimate based on its past reporting schedule.
What time does MAR report earnings?
Marriott International usually reports before market open: its latest results release was filed with the SEC at 7:00 am ET on Aug 3, 2026.
When did MAR last report earnings?
Marriott International reported Q2 2026 results on Aug 3, 2026.
What is the EPS estimate for MAR's next earnings?
The consensus EPS forecast is $2.84 (8 analysts), vs $2.47 in the same quarter last year.
Where can I find Marriott International's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to MAR's filings; this page breaks the latest report down in a Sankey chart.
What was MAR's net income in Q2 2026?
Marriott International reported net income of $766M for Q2 2026 (+0.4% year over year), under US GAAP.
Does Marriott International pay dividends?
Yes. In 2025, Marriott International paid $718M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error
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