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How Marriott International (MAR) makes money
Marriott International (MAR) made $7.0B of revenue in the third quarter 2026 (Q3 2026), +8% from a year earlier. Reimbursements brought in $5.1B (73%); Net fee revenues brought in $1.5B (21%); Owned, leased, and other brought in $436M (6%). Of every dollar of revenue, 18¢ was left as operating profit, 11¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Reimbursements | $5.1B | 72.5% | +0.4% | +7% |
| Net fee revenues | $1.5B | 21.3% | -4% | +14% |
| Owned, leased, and other | $436M | 6.2% | -6% | +4% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $7.0B | 100.0% |
| Operating profit | $1.3B | 18.2% |
| Income tax | $266M | 3.8% |
| Net earnings | $794M | 11.3% |
| Operating cash flow | $1.4B | 20.5% |
| Free cash flow | $1.3B | 18.6% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $7.0B | +8% |
| Q2 2026 | $7.1B | +5% |
| Q1 2026 | $6.7B | +6% |
| Q4 2025 | $6.7B | +4% |
| Q3 2025 | $6.5B | +4% |
| Q2 2025 | $6.7B | +5% |
| Q1 2025 | $6.3B | +5% |
From Marriott International's 10-Q filed Nov 2, 2026 (on EDGAR).
Questions
How does Marriott International make money?
Marriott International (MAR) made $7.0B of revenue in the third quarter 2026 (Q3 2026), +8% from a year earlier. Reimbursements brought in $5.1B (73%); Net fee revenues brought in $1.5B (21%); Owned, leased, and other brought in $436M (6%). Of every dollar of revenue, 18¢ was left as operating profit, 11¢ was left as net earnings.
What is Marriott International's biggest business?
Reimbursements: $5.1B in the third quarter 2026, 73% of revenue, +7% from a year earlier.
What is Marriott International's profit margin?
Net earnings were $794M, 11.3% of revenue, in the third quarter 2026; the operating margin was 18.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.