MAR · 10-Q · 2026Q3 · Full report

Operating Income and Margins

MARRIOTT INTERNATIONAL INC /MD/ · 2026-11-02 · Importance 24 · Surprise 14

Operating income increased to $1.274 billion in the third quarter of 2026 from $1.180 billion in the third quarter of 2025, about 8%. For the first three quarters, operating income grew to $3.567 billion from $3.364 billion, about 6%. Consolidated revenue increased about 8% in the quarter and 6% year to date, leaving the operating margin broadly stable at approximately 18% in both comparison periods. Owned and leased hotel expenses exceeded revenue gains in the first three quarters, primarily because of hotels under renovation; other expenses also rose by $35 million due to higher costs under a third-party agreement.