Marriott International (NASDAQ:MAR) reported third-quarter earnings that exceeded expectations on Tuesday, as strong international performance offset slight softness in North America. The company’s adjusted earnings per share came in at $2.47, beating analyst forecasts by $0.10.
Shares of Marriott were up 0.51% in premarket trading following the release.
The hotel operator posted revenue of $6.49 billion, just above the $6.47 billion consensus estimate. Global revenue per available room (RevPAR) rose 0.5% year-over-year, with international RevPAR up 2.6% while U.S. and Canada RevPAR slipped 0.4%.
“Our third quarter results demonstrated continued strong execution of our growth strategy, the power of our brands, and the cash flow benefits of our asset-light business model,” said Anthony Capuano, President and Chief Executive Officer of Marriott International.
The luxury segment led the company’s performance, posting a 4% increase in RevPAR. Growth was especially strong in the Asia Pacific region, where revenue rose nearly 5%, driven by robust demand in Japan, Australia, and Vietnam.
Base management and franchise fees grew 6% to $1.19 billion, boosted by room expansion and higher co-branded credit card income. Adjusted EBITDA increased 10% year-over-year to $1.35 billion.
During the quarter, Marriott added approximately 17,900 net rooms, including nearly 13,900 internationally, bringing its global development pipeline to a record 3,900 properties and over 596,000 rooms.
For the full year 2025, Marriott projects net room growth approaching 5% and systemwide RevPAR growth between 1.5% and 2.5%. The company has returned around $3.1 billion to shareholders year-to-date through dividends and share repurchases and expects total shareholder returns to reach about $4 billion by year-end.