Filing Flows › Marriott International (MAR) › Q3 2026 › vs Q2 2026
Marriott International (MAR) Q3 2026 vs Q2 2026 (quarter over quarter)
Marriott International's revenue fell $66.0M (-0.9%) from $7.1B in Q2 2026 to $7.0B in Q3 2026. The biggest changes: Net fee revenues −$58.0M (-4%); Owned, leased, and other −$30.0M (-6%); Reimbursements +$22.0M (+0.4%). Operating margin 18.2% against 17.4% (+0.8 pts).
Marriott International, Q3 2026: revenue $7.0B (+8% year over year), operating margin 18.2%, net earnings $794M, operating cash flow $1.4B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 18.2% | 17.4% | +0.8 pts |
| Net margin | 11.3% | 10.8% | +0.5 pts |
| Free cash flow margin | 18.6% | 11.3% | +7.4 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Reimbursements | $5.1B | $5.1B | $22.0M | +0.4% |
| Net fee revenues | $1.5B | $1.5B | −$58.0M | -4% |
| Owned, leased, and other | $436M | $466M | −$30.0M | -6% |
| Revenue | $7.0B | $7.1B | −$66.0M | -0.9% |
| Operating profit | $1.3B | $1.2B | $45.0M | +4% |
| Costs & expenses | $5.7B | $5.8B | −$111M | -2% |
| Pre-tax earnings | $1.1B | $1.0B | $16.0M | +2% |
| Other expense, net | $214M | $185M | $29.0M | +16% |
| General & admin | $214M | $220M | −$6.0M | -3% |
| Other operating costs | $5.5B | $5.6B | −$105M | -2% |
| Net earnings | $794M | $766M | $28.0M | +4% |
| Income tax | $266M | $278M | −$12.0M | -4% |
| Share-based compensation | $65.0M | $66.0M | −$1.0M | -2% |
| Working capital & other | $574M | $116M | $458M | +395% |
| Operating cash flow | $1.4B | $948M | $485M | +51% |
| Free cash flow (OCF − capex) | $1.3B | $796M | $508M | +64% |
| Capital expenditures | $129M | $152M | −$23.0M | -15% |
Questions
How much did Marriott International's revenue grow quarter over quarter in Q3 2026?
Marriott International's revenue fell $66.0M (-0.9%) from $7.1B in Q2 2026 to $7.0B in Q3 2026.
What drove Marriott International's revenue change in Q3 2026?
Net fee revenues −$58.0M (-4%); Owned, leased, and other −$30.0M (-6%); Reimbursements +$22.0M (+0.4%).