Marriott Shares Rise 3% as International Strength Lifts Q3 Beat and Pipeline Hits Record

Marriott International (NASDAQ: MAR) reported third-quarter earnings that beat expectations on Tuesday, with adjusted EPS of $2.47 exceeding estimates by $0.10 as overseas markets led growth. Shares gained more than 3% intra-day.

Revenue came in at $6.49 billion, slightly above the $6.47 billion consensus. Global RevPAR increased 0.5% year over year, driven by 2.6% growth internationally that offset a 0.4% decline in the U.S. and Canada. Luxury RevPAR outperformed, rising 4%, and Asia Pacific led international gains with nearly 5% growth on strong results in Japan, Australia and Vietnam.

Base management and franchise fees increased 6% to $1.19 billion on room additions and higher co-branded credit card fees. Adjusted EBITDA rose 10% to $1.35 billion. Marriott added about 17,900 net rooms in the quarter, including nearly 13,900 internationally, and the global development pipeline reached a record ~3,900 properties and more than 596,000 rooms. For 2025, the company projected net rooms growth approaching 5% and comparable systemwide RevPAR growth of 1.5% to 2.5%.