Filing Flows › Marriott International (MAR) › Q2 2026 › vs Q1 2026
Marriott International (MAR) Q2 2026 vs Q1 2026 (quarter over quarter)
Marriott International's revenue rose $417M (+6%) from $6.7B in Q1 2026 to $7.1B in Q2 2026. The biggest changes: Reimbursements +$214M (+4%); Net fee revenues +$149M (+11%); Owned, leased, and other +$54.0M (+13%). Operating margin 17.4% against 16.0% (+1.4 pts).
Marriott International, Q2 2026: revenue $7.1B (+5% year over year), operating margin 17.4%, net earnings $766M, operating cash flow $948M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 17.4% | 16.0% | +1.4 pts |
| Net margin | 10.8% | 9.7% | +1.1 pts |
| Free cash flow margin | 11.3% | 10.9% | +0.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Reimbursements | $5.1B | $4.8B | $214M | +4% |
| Net fee revenues | $1.5B | $1.4B | $149M | +11% |
| Owned, leased, and other | $466M | $412M | $54.0M | +13% |
| Revenue | $7.1B | $6.7B | $417M | +6% |
| Operating profit | $1.2B | $1.1B | $165M | +16% |
| Costs & expenses | $5.8B | $5.6B | $252M | +5% |
| Pre-tax earnings | $1.0B | $858M | $186M | +22% |
| Other expense, net | $185M | $206M | −$21.0M | -10% |
| General & admin | $220M | $219M | $1.0M | +0.5% |
| Other operating costs | $5.6B | $5.4B | $251M | +5% |
| Net earnings | $766M | $648M | $118M | +18% |
| Income tax | $278M | $210M | $68.0M | +32% |
| Share-based compensation | $66.0M | $57.0M | $9.0M | +16% |
| Working capital & other | $116M | $153M | −$37.0M | -24% |
| Operating cash flow | $948M | $858M | $90.0M | +10% |
| Free cash flow (OCF − capex) | $796M | $728M | $68.0M | +9% |
| Capital expenditures | $152M | $130M | $22.0M | +17% |
Questions
How much did Marriott International's revenue grow quarter over quarter in Q2 2026?
Marriott International's revenue rose $417M (+6%) from $6.7B in Q1 2026 to $7.1B in Q2 2026.
What drove Marriott International's revenue change in Q2 2026?
Reimbursements +$214M (+4%); Net fee revenues +$149M (+11%); Owned, leased, and other +$54.0M (+13%).