Filing Flows › Marriott International (MAR) › Q2 2026 › vs Q2 2025
Marriott International (MAR) Q2 2026 vs Q2 2025 (year over year)
Marriott International's revenue rose $327M (+5%) from $6.7B in Q2 2025 to $7.1B in Q2 2026. The biggest changes: Net fee revenues +$176M (+13%); Reimbursements +$126M (+3%); Owned, leased, and other +$25.0M (+6%). Operating margin 17.4% against 18.3% (-0.9 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 17.4% | 18.3% | -0.9 pts |
| Net margin | 10.8% | 11.3% | -0.5 pts |
| Free cash flow margin | 11.3% | 7.2% | +4.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Reimbursements | $5.1B | $4.9B | $126M | +3% |
| Net fee revenues | $1.5B | $1.4B | $176M | +13% |
| Owned, leased, and other | $466M | $441M | $25.0M | +6% |
| Revenue | $7.1B | $6.7B | $327M | +5% |
| Operating profit | $1.2B | $1.2B | −$7.0M | -0.6% |
| Costs & expenses | $5.8B | $5.5B | $334M | +6% |
| Pre-tax earnings | $1.0B | $1.1B | −$10.0M | -0.9% |
| Other expense, net | $185M | $182M | $3.0M | +2% |
| General & admin | $220M | $210M | $10.0M | +5% |
| Other operating costs | $5.6B | $5.3B | $324M | +6% |
| Net earnings | $766M | $763M | $3.0M | +0.4% |
| Income tax | $278M | $291M | −$13.0M | -4% |
| Share-based compensation | $66.0M | $58.0M | $8.0M | +14% |
| Working capital & other | $116M | −$178M | $294M | — |
| Operating cash flow | $948M | $643M | $305M | +47% |
| Free cash flow (OCF − capex) | $796M | $488M | $308M | +63% |
| Capital expenditures | $152M | $155M | −$3.0M | -2% |
Questions
How much did Marriott International's revenue grow year over year in Q2 2026?
Marriott International's revenue rose $327M (+5%) from $6.7B in Q2 2025 to $7.1B in Q2 2026.
What drove Marriott International's revenue change in Q2 2026?
Net fee revenues +$176M (+13%); Reimbursements +$126M (+3%); Owned, leased, and other +$25.0M (+6%).