Marriott International Inc.

Business description

Marriott International is a leading global hotel operating company with a portfolio of 9,707 properties and 1,756,421 rooms. Approximately 60% of its system is located in the U.S. (6,360 properties, 1,065,108 rooms), providing broad exposure to urban and gateway markets.

Key financials

• Price: $384.00 (06/25/2026)
• 12-Mo Target: $429.00
• Market Cap: $105.64B
• Rating: Buy (CFRA)
• 2026 RevPAR Guidance: 2%-3% (Management)
• 2026 EBITDA Estimate: $5.9B (CFRA)

Competitive moat

Leading scale and a massive loyalty program (Marriott Bonvoy) provide significant distribution power. Broad urban exposure, particularly in gateway cities like New York City, Miami, and Los Angeles, positions the company to capture high-value event-driven demand.

Recent developments

• World Cup Pricing Tailwinds: Early data from the 2026 FIFA World Cup shows host-city hotels (including MAR's urban properties) are successfully driving Revenue per available room (RevPAR) through aggressive room rate hikes. Host-market ADR growth averaged 9.4% in early June 2026.
• Unit Growth Acceleration: Strengthening RevPAR trends and accelerating unit growth support a premium valuation compared to historical averages.

Investment risks / red flags

• Loyalty Program Friction: Recent backlash from hotel owners over the Marriott Bonvoy revenue split could pressure owner relations.
• Economic Sensitivity: Vulnerable to broader macroeconomic headwinds affecting discretionary travel and corporate convention spending.

H-Score signals

• TBI multi factor score: 69

Theme exposure

• [[U.S. Hotels World Cup Boost]]
• [[Travel and Leisure]]

Related

• [[Consumer Discretionary]]
• [[Hilton Worldwide Holdings Inc.]]
• [[Hyatt Hotels Corporation]]