Marriott International (NASDAQ:MAR) reported first-quarter results on Wednesday that came in ahead of Wall Street expectations, supported by continued strength in global travel demand.
Adjusted earnings per share reached $2.72, topping analyst forecasts of $2.54 by $0.18.
Shares gained 1.55% in premarket trading following the release.
Revenue for the quarter totaled $6.65 billion, above the consensus estimate of $6.56 billion and up 6% from the same period last year.
RevPAR growth remains solid across regions
Global revenue per available room (RevPAR) increased 4.2% during the quarter, helped by improvements in both occupancy rates and average daily room prices.
RevPAR in the U.S. and Canada rose 4%, while international markets posted 4.6% growth despite disruptions tied to conflict in the Middle East affecting results in March.
Marriott added roughly 15,900 net rooms during the quarter, expanding its worldwide portfolio to more than 9,900 properties with nearly 1.8 million rooms.
Guidance comes in slightly below expectations
For the second quarter of 2026, Marriott projected earnings between $2.99 and $3.06 per share. The midpoint of $3.03 came in slightly below analyst expectations of $3.05.
The company expects second-quarter gross fee revenue to range from $1.538 billion to $1.553 billion.
For the full year, Marriott forecast earnings between $11.38 and $11.63 per share. The midpoint of $11.51 was modestly below the analyst consensus estimate of $11.57.
Full-year gross fee revenue is expected to come in between $5.925 billion and $5.985 billion.
Development pipeline hits record level
“We delivered excellent first quarter results, reflecting the strength of our brands, our unmatched global footprint, and the resilience of demand for travel,” said Anthony Capuano, President and Chief Executive Officer.
At the end of the quarter, Marriott’s development pipeline reached a record 4,107 properties representing nearly 618,000 rooms, with 43% of those rooms currently under construction.
Shareholder returns continue
During the quarter, Marriott repurchased 2.1 million shares for approximately $700 million.
Including dividends and buybacks, the company has returned more than $1.2 billion to shareholders so far this year through April 29.