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Marriott International, Inc. engages in the operation, franchise, and licensing of hotel, residential, timeshare, and other lodging properties in the U.S. & Canada, Europe, Middle East & Africa, Greater China, and Asia Pacific, and internationally. It operates properties under JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, MGM Collection with Marriott Bonvoy, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, citizen, City Express by Marriott, and Four Points Flex by Sheraton brand names, as well as operates residences, timeshares, and yachts. The company was founded in 1927 and is headquartered in Bethesda, Maryland.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $26.2B | $4.8B | $2.6B | $2.6B | -69.0% | 4.3% | 9.5% |
| 2024 | $25.1B | $4.3B | $2.4B | $2.0B | -79.4% | 5.8% | -23.0% |
| 2023 | $23.7B | $4.4B | $3.1B | $2.7B | -452.1% | 14.2% | 30.7% |
| 2022 | $20.8B | $3.9B | $2.4B | $2.0B | 415.1% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 20,773 | 23,713 | 25,100 | 26,186 |
| Operating Revenue | - | 5,445 | 6,388 | 6,721 | 7,117 |
| Cost Of Revenue | - | 16,215 | 18,733 | 20,128 | 20,964 |
| Gross Profit | - | 4,558 | 4,980 | 4,972 | 5,222 |
| Operating Expense | - | 1,084 | 1,056 | 1,128 | 1,083 |
| Selling General And Administration | - | 891 | 867 | 945 | 870 |
| Total Expenses | - | 17,299 | 19,789 | 21,256 | 22,047 |
| Operating Income | - | 3,474 | 3,924 | 3,844 | 4,139 |
| Total Operating Income As Reported | - | 3,462 | 3,864 | 3,767 | 4,141 |
| EBITDA | - | 3,917 | 4,379 | 4,338 | 4,802 |
| Normalized EBITDA | - | 3,929 | 4,439 | 4,415 | 4,800 |
| EBIT | - | 3,517 | 3,943 | 3,846 | 4,203 |
| Interest Income | - | 26 | 30 | 40 | 42 |
| Interest Expense | - | 403 | 565 | 695 | 809 |
| Net Interest Income | - | -377 | -535 | -655 | -767 |
| Other Non Operating Income Expenses | - | 11 | 40 | 31 | 9 |
| Other Income Expense | - | 17 | -11 | -38 | 22 |
| Interest Income Non Operating | - | 26 | 30 | 40 | 42 |
| Interest Expense Non Operating | - | 403 | 565 | 695 | 809 |
| Net Non Operating Interest Income Expense | - | -377 | -535 | -655 | -767 |
| Pretax Income | - | 3,114 | 3,378 | 3,151 | 3,394 |
| Tax Provision | - | 756 | 295 | 776 | 793 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -2.92 | -5.22 | -18.94 | 0.47 |
| Net Income Continuous Operations | - | 2,358 | 3,083 | 2,375 | 2,601 |
| Net Income From Continuing And Discontinued Operation | - | 2,358 | 3,083 | 2,375 | 2,601 |
| Net Income From Continuing Operation Net Minority Interest | - | 2,358 | 3,083 | 2,375 | 2,601 |
| Net Income | - | 2,358 | 3,083 | 2,375 | 2,601 |
| Net Income Common Stockholders | - | 2,358 | 3,083 | 2,375 | 2,601 |
| Net Income Including Noncontrolling Interests | - | 2,358 | 3,083 | 2,375 | 2,601 |
| Normalized Income | - | 2,367.08 | 3,137.78 | 2,433.06 | 2,599.47 |
| Diluted NI Availto Com Stockholders | - | 2,358 | 3,083 | 2,375 | 2,601 |
| Basic Average Shares | - | 324.40 | 301.50 | 284.20 | 272.90 |
| Diluted Average Shares | - | 325.80 | 302.90 | 285.20 | 273.60 |
| Reconciled Depreciation | - | 400 | 436 | 492 | 599 |
| Reconciled Cost Of Revenue | - | 16,008 | 18,486 | 19,819 | 20,578 |
| Total Unusual Items | - | -12 | -60 | -77 | 2 |
| Total Unusual Items Excluding Goodwill | - | -12 | -60 | -77 | 2 |
| Special Income Charges | - | -12 | -60 | -77 | 2 |
| Other Special Charges | 164 | - | - | - | - |
| Restructuring And Mergern Acquisition | - | 12 | 60 | 77 | -2 |
| Depreciation Amortization Depletion Income Statement | - | 193 | 189 | 183 | 213 |
| Depreciation And Amortization In Income Statement | - | 193 | 189 | 183 | 213 |
| General And Administrative Expense | - | 891 | 867 | 945 | 870 |
| Other Gand A | - | 891 | 867 | 945 | 870 |
| Earnings From Equity Interest | - | 18 | 9 | 8 | 11 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Marriott International, Inc.this co. | MAR | $101.6B | 39.06↑ premium | -26.94 | -69.0% | 24.64 |
| PDD Holdings Inc. | PDD | $122.2B | 1.25 | 0.30 | 23.7% | -2.41 |
| Lowe's Companies, Inc. | LOW | $116.4B | 17.49 | -11.73 | -67.1% | 12.84 |
| Starbucks Corporation | SBUX | $107.3B | 57.80 | -13.25 | -22.9% | 27.10 |
| MercadoLibre, Inc. | MELI |
| - |
| - |
| - |
| - |
| - |
| - |
| $82.9B |
| 41.50 |
| 12.28 |
| 29.6% |
| 23.72 |
| Airbnb, Inc. | ABNB | $79.4B | 31.61 | 9.68 | 30.6% | 29.43 |
| Royal Caribbean Cruises Ltd. | RCL | $78.7B | 18.43 | 7.84 | 42.5% | 14.10 |
| Hilton Worldwide Holdings Inc. | HLT | $77.0B | 52.83 | -14.29 | -27.0% | 31.08 |
| General Motors Company | GM | $75.0B | 23.60 | 1.23 | 5.2% | 9.69 |
| Peer Median | - | 27.60 | 0.76 | 14.4% | 18.91 | |