Marriott International logged higher revenue in the fourth quarter, boosted by solid international travel trends and continuing strength in the company's luxury segment. ...

Group 1 - Marriott International, Inc. expects worldwide RevPAR to rise by 1.5 to 2.5 percent for the full year 2026 [1] - The company anticipates net rooms growth of 4.5 to 5 percent and adjusted EBITDA growth of 8 to 10 percent for the same period [1] - Marriott plans to return more than $4.3 billion in capital to shareholders in 2026 [1] - The projected adjusted EPS for the full year 2026 is in the range of $11.32 to $11.57 [1] - For the first quarter, adjusted EPS is projected to be between $2.50 and $2.55 [1] Group 2 - In the fourth quarter, Marriott reported earnings of $445 million, or $1.65 per share, compared to $455 million, or $1.63 per share, in the previous year [2] - The adjusted EPS for the fourth quarter was $2.58, an increase from $2.45 year-over-year [2] - Revenue for the fourth quarter rose by 4.1% to $6.690 billion from $6.429 billion in the prior year [2] - In pre-market trading, Marriott shares increased by 2.65 percent to $340.00 [2]

Financial Performance - Fourth quarter 2025 RevPAR increased 1.9% worldwide, with a 6.1% growth in international markets and a 0.1% decline in U.S. & Canada[3] - Reported diluted EPS for the fourth quarter totaled $1.65, while adjusted diluted EPS was $2.58; for the full year, reported diluted EPS was $9.51 and adjusted diluted EPS was $10.02[3] - Fourth quarter reported net income was $445 million, and adjusted net income was $695 million; for the full year, reported net income totaled $2,601 million and adjusted net income was $2,742 million[3] - Adjusted EBITDA for the fourth quarter was $1,402 million, a 9% increase from the previous year, and for the full year, adjusted EBITDA totaled $5,383 million[3] - For full year 2026, the company expects worldwide RevPAR to rise by 1.5% to 2.5%, net rooms growth of 4.5% to 5%, and adjusted EBITDA growth of 8% to 10%[3] - The company returned over $4.0 billion to shareholders through dividends and share repurchases in 2025[3] - For Q4 2025, Marriott reported total revenues of $6,690 million, a 4% increase from $6,429 million in Q4 2024[37] - Net income for Q4 2025 was $445 million, a decrease of 2% from $455 million in Q4 2024[37] - For the full year 2025, Marriott's total revenues reached $26,186 million, up 4% from $25,100 million in 2024[40] - The company reported a 10% increase in operating income for the full year 2025, totaling $4,141 million compared to $3,767 million in 2024[40] - Reported net income for Fiscal Year 2025 was $2,601 million, an increase from $2,375 million in Fiscal Year 2024, representing a growth of 9.5%[76] - Adjusted EBITDA for Fiscal Year 2025 was $5,383 million, reflecting an 8% increase compared to $4,981 million in Fiscal Year 2024[76] Revenue and Fees - Franchise fees increased by 6% to $843 million in Q4 2025, compared to $795 million in Q4 2024[37] - Franchise fees for the full year 2025 totaled $3,325 million, an increase from $3,113 million in 2024, representing a growth of 6.8%[45] - The outlook for 2026 includes a projected 35% increase in co-branded credit card fees recognized in franchise fees, reflecting expected strong growth in spending[24] - Cost reimbursement revenue for Q4 2025 was $4,857 million, up from $4,704 million in Q4 2024, reflecting a growth of 3.2%[45] - Cost reimbursement revenue for Fiscal Year 2025 totaled $(19,204) million, compared to $(18,482) million in Fiscal Year 2024, showing a 3.9% increase[76] Development and Growth - The company added nearly 100,000 gross rooms globally in 2025, resulting in a net rooms growth of over 4.3% from year-end 2024[3] - At year-end 2025, Marriott's worldwide development pipeline reached approximately 4,100 properties and nearly 610,000 rooms, with 43% of pipeline rooms under construction[3] - As of December 31, 2025, Marriott operates a total of 9,805 properties worldwide, comprising 1,779,936 rooms[51] - The company has 6,433 properties in the US & Canada, totaling 1,084,057 rooms, and 3,372 properties internationally, totaling 695,879 rooms[51] - Future growth strategies include market expansion and potential acquisitions to enhance the company's global footprint[51] Membership and Customer Engagement - In 2025, Marriott Bonvoy membership grew by approximately 43 million, bringing total membership to nearly 271 million, with member stays accounting for 75% of room nights in the U.S. & Canada[9] Operational Metrics - The operating income margin for Q4 2025 remained stable at 12%, while the adjusted operating income margin improved to 63% from 62% in Q4 2024[43] - Adjusted operating income for Q4 2025 was $1,155 million, an 8% increase compared to $1,072 million in Q4 2024[43] - The company experienced a 3% increase in incentive management fees, totaling $239 million in Q4 2025 compared to $206 million in Q4 2024[37] Market Performance - The average daily rate for Marriott Hotels reached $255.18, up 3.1% from the previous year[59] - The total systemwide occupancy rate for US & Canada properties was 65.8%, a decrease of 0.9 percentage points compared to 2024[61] - The overall RevPAR for Composite US & Canada Luxury properties rose by 4.9% to $317.38, with occupancy at 69.3%, a 0.6 percentage point increase[64] - For the twelve months ended December 31, 2025, RevPAR for JW Marriott increased by 3.1% to $242.57, while occupancy decreased by 0.2 percentage points to 70.9%[64] Expenses and Costs - General and administrative expenses totaled $870 million, with quarterly expenses of $209 million, $210 million, $210 million, and $241 million[47] - Interest expense for Fiscal Year 2025 was $809 million, up from $695 million in Fiscal Year 2024, marking a 16.4% increase[76] - Provision for income taxes in Fiscal Year 2025 was $793 million, compared to $776 million in Fiscal Year 2024, reflecting a 2.2% increase[76] - Stock-based compensation for Fiscal Year 2025 amounted to $236 million, slightly down from $237 million in Fiscal Year 2024[76] Accounting and Reporting - The company plans to exclude cost reimbursement revenue and reimbursed expenses from its guidance due to the inability to forecast these items accurately[80] - Adjusted EBITDA is considered a meaningful indicator of operating performance, allowing for period-over-period comparisons and excluding items that can vary widely across different industries[86] - Revenue per Available Room (RevPAR) is calculated by dividing property level room revenue by total rooms available, serving as a key performance measure[88] - Occupancy is calculated by dividing total rooms sold by total rooms available, indicating the utilization of a property's available capacity[88] - Average Daily Rate (ADR) is calculated by dividing property level room revenue by total rooms sold, useful for assessing pricing levels[88]

Marriott International Reports Fourth Quarter and Full Year 2025 Results [Accessibility Statement] Skip Navigation- For full year 2026, we expect worldwide RevPAR to rise 1.5 to 2.5 percent, net rooms growth of 4.5 to 5 percent, adjusted EBITDA2 growth of 8 to 10 percent and more than $4.3 billion of capital returns to shareholders- The company returned over $4.0 billion to shareholders through dividends and share repurchases in 2025- At the end of the year, Marriott's worldwide development pipeline reached ...

Marriott International, Inc. (NASDAQ:MAR) will release earnings for its fourth quarter before the opening bell on Tuesday, Feb. 10.Analysts expect the Bethesda, Maryland-based company to report quarterly earnings of $2.62 per share. That's up from $2.45 per share in the year-ago period. The consensus estimate for Marriott's quarterly revenue is $6.67 billion (it reported $6.43 billion last year), according to Benzinga Pro.Marriott International recently reported a 4.3% net rooms growth in 2025.Shares of Mar ...

（来源：蛋品世界WECD） 近日，全国规模最大山林散养非笼养蛋鸡基地—土大妈始兴民丰山基地迎来重要里程碑：该企业成功和全球最大的五星级酒店集团—万豪酒店合作，其首 批1000件、共36000枚山林散养非笼养鸡蛋已顺利发货。 "这次能首次自主出口至香港，得益于海关的指导，有了这次经验，后续还计划将市场拓展至日本、东南亚等地区，我们对出口业务前景充满信心。""土 大妈"公司总经理蔡华柱说。 这一突破不仅标志着土大妈在2026年实现高端市场新跨越，更创下广东散养非笼养鸡蛋供应国际五星级酒店的行业首例。 走进土大妈蛋品加工车间，智能加工生产线高速运转、机器轰鸣。一枚枚新鲜散养非笼养鸡蛋在传送带上有序流转，历经光检、除尘、清洗、消毒等全流 程自动化处理，基地内备货、装车工作井然有序，一派热火朝天的繁忙景象。作为全国最大的山林散养非笼养蛋企，土大妈凭借国内首家通过HACCP和 FSSC22000食品安全管理国际双认证以及广东首家获得散养非笼养蛋供港和出口资质等硬核实力成功通过万豪酒店全球采购审核，成为其蛋品供应商。 韶关市土大妈南岭家禽养殖有限公司总经理蔡华柱表示："经过我们长期的接触，凭借我们各方面认证，特别是FSSC ...

Economic Data - The People's Bank of China will release January CPI and PPI on February 11 [1] - The National Bureau of Statistics will publish the monthly report on January commodity residential sales price index on February 13 [1] - Financial data including January social financing and new RMB loans will also be released next week [1] - In the US, December retail sales month-on-month will be announced on February 10, followed by January unemployment rate and non-farm employment data on February 11 [1] Earnings Reports - The US earnings season continues with several notable companies reporting next week, including BP, Barclays, Marriott, Coca-Cola, and AstraZeneca on February 10 [2] - Other companies such as NetEase, Youdao, and Total will report on February 11, while TripAdvisor and Hyatt will report on February 12 [2] - In Hong Kong, SMIC will report earnings on February 10, followed by Budweiser APAC and NetEase Cloud Music on February 11 [2] New Stock Issuance - One new stock, Tongbao Optoelectronics, will be available for subscription on February 9, with Ai De Technology listing on the Beijing Stock Exchange on February 10 [2] - Several new stocks will list in Hong Kong, including Lanke Technology on February 9 and Aixin Yuanzhi on February 10 [2] Stock Unlocking - A total of 33 restricted stocks will be unlocked next week, with a total market value exceeding 36 billion yuan, led by Hunan YN with 24.096 billion yuan [3][10] Central Bank Operations - The central bank will have 4.055 billion yuan of reverse repos maturing next week, with specific amounts maturing each day [3][10] Government Bonds - The Ministry of Finance will issue the first phase of RMB government bonds in Hong Kong on February 11, with a scale of 14 billion yuan [13]

Core Insights - Marriott International, Inc. (MAR) is expected to report fourth-quarter 2025 results on February 10, 2026, with a history of beating earnings estimates in the past four quarters, averaging a surprise of 2% [1][10] Earnings Estimates - The Zacks Consensus Estimate for fourth-quarter earnings per share (EPS) is $2.64, reflecting a growth of 7.8% from $2.45 in the same quarter last year [2] - Revenue estimates are set at approximately $6.68 billion, indicating a rise of 3.9% compared to the previous year's quarter [2] Factors Influencing Q4 Performance - The fourth-quarter performance is anticipated to benefit from a recovery in global demand, improved RevPAR trends, and strong performance in higher-end chain scales, with international markets expected to outperform the U.S. and Canada [3] - Resilient leisure demand at luxury and premium properties, along with stabilizing business transient trends, is likely to support top-line performance, with Owned, Leased and Other revenues predicted to increase by 0.8% year over year to $421.3 million [4] International Operations and Fee-Driven Model - An emphasis on international operations is expected to enhance performance, particularly in APEC and EMEA regions, supported by favorable macro conditions and improving cross-border travel [5] - The fee-driven business model is projected to bolster earnings, with Franchise Fees and Incentive Management Fees expected to rise by 4.8% and 1.2% year over year to $832.9 million and $208.4 million, respectively [6] Margin Pressures - Investments in technology transformation and increased spending on owned and leased properties may exert margin pressure during the quarter [7] - Softer growth in incentive management fees, due to renovation-related disruptions and lower contributions from Asia, may also impact profitability [7] Earnings Prediction - The model predicts an earnings beat for Marriott, supported by a positive Earnings ESP of +1.00% and a Zacks Rank of 3 (Hold) [10]

Group 1 - Marriott's Fairfield by Marriott brand has officially opened its new hotel in Hengdian, located within the 5A national tourist attraction Hengdian World Studios, offering a comfortable and friendly experience for both business and leisure guests [1][2] - The hotel is strategically positioned in Hengdian, known as the "Oriental Hollywood," attracting a diverse range of visitors and providing easy access to famous filming locations and tourist attractions [2][3] - The hotel features 343 guest rooms and suites designed with a warm oak tone and elements inspired by Rothenburg, equipped with modern amenities such as smart TVs, high-quality bathroom facilities, and free high-speed Wi-Fi [3][4] Group 2 - The hotel's restaurant can accommodate nearly 200 guests and offers a variety of European breakfast and Jiangnan fusion cuisine, while a convenience shop provides snacks and drinks for guests on the go [3] - The hotel includes a 546 square meter multifunctional meeting space equipped with smart meeting technology, catering to various event needs such as conferences and banquets [3] - The hotel aims to provide a reliable and warm atmosphere for guests, reflecting the Marriott family's tradition of hospitality, with a focus on creating a seamless and efficient stay experience [4]

Core Insights - Marriott International, Inc. (MAR) has reported a successful 2025, showcasing broad-based expansion across all segments and strengthening collaborations with hotel owners, reflecting disciplined execution of its growth strategy [2] Growth Metrics - In 2025, Marriott achieved a net room growth of approximately 4.3%, adding over 700 new properties and nearly 100,000 rooms, with a development pipeline of around 610,000 rooms, up 5.7% year over year [4] - The company signed 94 deals in the Caribbean and Latin America, 187 in the Asia Pacific excluding China, and a record 201 in Greater China [4] Conversion Activity - Marriott completed nearly 400 conversion deals covering over 50,800 rooms, accounting for more than 30% of organic signings, with approximately 75% of conversions opening within a year [5] Strategic Expansion - The acquisition of citizenM added more than 35 hotels and nearly 9,000 rooms, with 37 properties opened across 23 cities in the U.S. by year-end [6] - Marriott signed 13 agreements to introduce Series by Marriott to key U.S. and Canadian markets, with two hotels opening in the fourth quarter [6] Midscale and Luxury Brands - Marriott strengthened its midscale presence with three dedicated brands, including City Express by Marriott, which ended the year with 158 open hotels and 150 in the pipeline [7] - The company signed a record 114 deals in the luxury segment, closing the year with 296 hotels and resorts (~60,000 rooms) in the luxury pipeline, with EMEA leading regional luxury growth [8] Share Price Performance - Shares of MAR gained 9.7% in the past year, outperforming the Zacks Hotels and Motels industry's 3.1% decline, benefiting from strong leisure demand and solid global booking trends [9]