Marriott Beats Q3 Estimates, Raises Full-Year Outlook and Hits All-Time High Stock Price

Marriott International posted stronger-than-expected third-quarter 2026 results on November 2, lifted by broad-based demand across U.S. and Canadian hotels and improving travel trends in the Middle East. Revenue rose 8% year over year to $7.01 billion, topping the consensus estimate of $6.92 billion, while adjusted earnings per share jumped 22% to $3.02, beating expectations of $2.84. Gross fee revenues grew 14% to $1.52 billion against an estimate of $1.49 billion, and worldwide revenue per available room increased 6.5%.

On the strength of those results, Marriott raised its full-year 2026 adjusted EPS guidance to a range of $12.07 to $12.14, well above the prior consensus of $11.73, and lifted its worldwide RevPAR growth outlook to 4.5% to 5.0%. The company also set fourth-quarter adjusted EPS guidance of $3.14 to $3.21, ahead of the $3.02 estimate, with Q4 RevPAR growth also projected at 4.5% to 5.0%. Full-year adjusted EBITDA guidance was set at $6.08 billion to $6.10 billion.

Marriott's development pipeline stood at 4,209 properties representing more than 634,000 rooms, with net rooms growth of 4.6% in the quarter. Marriott Bonvoy loyalty membership surpassed 309 million, boosted in part by partnerships with Uber and Starbucks. The company repurchased 3.5 million shares for $1.3 billion in the quarter and has returned approximately $4.0 billion to shareholders year-to-date through October 28.

Shares rose more than 4% in premarket trading and hit an all-time high of $423.53 during the session, contributing to a broader market rally that pushed the Dow Jones Industrial Average up more than 400 points on the day.