Income StatementBalance SheetCash FlowSegments
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Marriott International Business Segments

Business, geographic, and product segment breakdowns

Marriott International generates $26.6B in annual revenue across 4 key segments: APEC ($1.1B), EMEA ($2.4B), Greater China ($606.0M), and U.S. & Canada ($19.6B). The company-wide operating margin is 16.02%. Based on the Q1 2026 filing.

APEC (TTM)$1.1BEMEA (TTM)$2.4BGreater China (TTM)$606.0MU.S. & Canada (TTM)$19.6B
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$97.3B
P/E Ratio37.67
ROE-71.18%

Products & Services

Gross fee revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Franchise fees$795.0M$746.0M$860.0M$876.0M$843.0M$872.0M
Base management fees$333.0M$325.0M$340.0M$314.0M$343.0M$339.0M
Incentive management fees$206.0M$204.0M$200.0M$148.0M$239.0M$222.0M

Contract with Customer, Liability, Noncurrent

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Loyalty program$4.0B$4.2B$4.2B$4.3B$4.5B$4.7B
Contract Services, Excluding Loyalty Program$1.1B$1.1B$1.2B$1.2B$1.2B$1.2B

Change in customer contract liability from change in estimates

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Liability for guest loyalty program$18.0M$25.5M$25.5M$25.5M$25.5M—

Contract with Customer, Liability, Current

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Loyalty program$3.5B$3.5B$3.6B$3.6B$3.5B$3.5B

Current and noncurrent deferred revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Loyalty program$7.5B$7.7B$7.8B$7.8B$8.0B$8.2B

Deferred revenue recognized

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Loyalty program$600.0M$843.0M$939.0M$807.0M$571.0M$870.0M

Increase (Decrease) In Contract With Customer, Liability, Cash

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Loyalty program$149.0M$183.0M$73.0M$45.0M$172.0M$206.0M

Increase (decrease) in deferred revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Loyalty program$148.0M$183.0M$73.0M$45.0M$172.0M$206.0M

Capitalized Contract Cost, Amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net fee revenues$27.0M$28.0M$29.0M$29.0M$49.0M$35.0M

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cost reimbursement revenue$4.7B$4.7B$4.9B$4.8B$4.9B$4.8B
Owned, leased, and other revenue$418.0M$361.0M$441.0M$420.0M$457.0M$412.0M

Operating costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cost reimbursement revenue$5.0B$4.7B$4.9B$4.7B$5.2B$4.9B
Owned, leased, and other revenue$447.0M$332.0M$328.0M$326.0M$511.0M$377.0M

Operating Income (Loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Reimbursements-$13.8M-$13.5M-$13.5M-$13.5M-$13.5M—

Geographic

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Operating Income$332.3M$345.5M$345.5M$345.5M$345.5M—
Property, Plant and Equipment, Net$554.0M———$677.0M—
Total Revenue$1.4B$1.4B$1.4B$1.4B$1.4B—

Business Segments

Depreciation, amortization, and other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S. & Canada$21.0M$27.0M$27.0M$23.0M$31.0M$24.0M
EMEA$10.0M$10.0M$9.0M$9.0M$12.0M$10.0M
Greater China$2.0M$2.0M$3.0M$5.0M$2.0M$3.0M
APEC$2.0M$2.0M$2.0M$2.0M$3.0M$2.0M

Foreign currency translation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
APEC-$8.0M$4.3M$4.3M$4.3M$4.3M—
CALA-$5.3M$3.5M$3.5M$3.5M$3.5M—
EMEA-$12.5M$24.3M$24.3M$24.3M$24.3M—
Greater China-$5.0M$7.5M$7.5M$7.5M$7.5M—
U.S. & Canada-$8.0M$4.5M$4.5M$4.5M$4.5M—

G&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S. & Canada—$30.0M$36.0M$40.0M$12.0M$30.0M
EMEA$10.0M$25.0M$35.0M$32.0M$5.0M$27.0M
APEC$6.0M$14.0M$17.0M$19.0M$10.0M$16.0M
Greater China$4.0M$12.0M$16.0M$15.0M$6.0M$12.0M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
APEC$731.0M———$748.0M—
CALA$303.0M———$317.0M—
EMEA$1.4B———$1.5B—
Greater China$979.0M———$1.0B—
U.S. & Canada$5.3B———$5.3B—

Operating Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S. & Canada$611.0M$644.0M$786.0M$680.0M$569.0M$646.0M
EMEA$126.0M$74.0M$157.0M$158.0M$136.0M$72.0M
APEC$80.0M$80.0M$76.0M$63.0M$82.0M$71.0M
Greater China$42.0M$45.0M$53.0M$44.0M$43.0M$45.0M

Other segment items

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
APEC-$2.0M$2.0M-$1.0M$0.0$1.0M$2.0M
Greater China-$1.0M-$1.0M$0.0-$1.0M$0.0-$2.0M
EMEA-$2.0M$2.0M-$2.0M-$2.0M-$1.0M-$1.0M
U.S. & Canada$0.0-$1.0M-$2.0M-$1.0M-$1.0M$0.0

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
U.S. & Canada$4.8B$4.7B$5.0B$4.7B$4.9B$5.0B
EMEA$631.0M$514.0M$655.0M$613.0M$625.0M$507.0M
APEC$280.0M$263.0M$256.0M$247.0M$307.0M$287.0M
Greater China$152.0M$136.0M$152.0M$142.0M$160.0M$152.0M