Marriott's Q3 RevPAR rose 6.5%, beating its 3.5–4% guide, and its 2026 outlook rises to 4.5–5%. Asia Pacific ex-China grew 9.3%; Middle East & Africa fell 5.3%.
Cover image: The JW Marriott hotel in Cannes, France (June 2026 file photo) — photo by MB-one, CC BY-SA 4.0, via Wikimedia Commons.
Marriott International beat its own forecast in the third quarter and raised its outlook for the year. Worldwide RevPAR rose 6.5 per cent in the three months to 30 September, against the 3.5–4.0 per cent it had guided to in August, according to the Marriott Q3 2026 results published on Monday 2 November. It now expects revenue per available room to grow 4.5–5.0 per cent in 2026, up from 3.0–3.5 per cent.
The gains were uneven. Asia Pacific excluding China grew 9.3 per cent and the US & Canada 7.4 per cent, while Greater China slipped 0.3 per cent and the Middle East & Africa fell 5.3 per cent, all on a systemwide constant-dollar basis.
How far did Marriott's Q3 2026 results beat guidance?
By 2.5 percentage points against the top of its range. Adjusted earnings per share of $3.02 beat its $2.74–2.82 forecast, against $2.47 a year earlier. Net income rose 9 per cent to $794 million.
Chief executive Anthony Capuano told analysts demand had been "remarkably robust this year, despite geopolitical uncertainty", Hotel Dive reported. On his figures, leisure RevPAR rose 7 per cent globally, group 6 per cent and business transient 4 per cent. Finance chief Jen Mason credited the World Cup in June and July.
Luxury led in the US & Canada, where systemwide luxury RevPAR rose 11.9 per cent.
Which regions grew, and which shrank?
Asia Pacific excluding China accelerated from 5.3 per cent in the second quarter, with occupancy up 1.7 points to 73.0 per cent. Capuano credited "robust international inbound demand".
Greater China went the other way, from 3.2 per cent growth in the second quarter to a small decline. On the call, Capuano blamed uneven consumer spending, major typhoons and slower leisure demand across much of the mainland. IHG, reporting a 3.3 per cent Greater China fall on 22 October, also blamed weather, plus holiday timing that encouraged outbound leisure travel.
The Middle East & Africa remains Marriott's weakest region, with occupancy down 5.0 points to 60.3 per cent. The second quarter was far worse: the region fell 33.1 per cent and the Middle East alone 43 per cent.
How does Marriott compare with Hilton and Hyatt?
Marriott's 6.5 per cent sits between Hilton's 5.8 per cent (27 October) and Hyatt's 7.2 per cent (29 October); see our Hilton and Hyatt results report. Both rivals also raised their 2026 forecasts, Hilton to 4.0–4.5 per cent and Hyatt to 5.0–5.5 per cent. All three strip out currency moves, but each uses its own set of comparable hotels; Marriott and Hyatt, for example, exclude all-inclusive resorts.
| Region | Marriott Q2 | Marriott Q3 | Hilton Q3 | Hyatt Q3 |
|---|---|---|---|---|
| Worldwide | +3.4% | +6.5% | +5.8% | +7.2% |
| US (Marriott: US & Canada) | +5.0% | +7.4% | +7.0% | +8.2% |
| Europe | +4.2% | +6.4% | +6.5% | +4.3% |
| Middle East & Africa | −33.1% | −5.3% | −5.6% | −0.7% |
| Greater China (Hilton: China) | +3.2% | −0.3% | Not in release | +2.1% |
| Asia Pacific excl. China (Hyatt: excl. Greater China) | +5.3% | +9.3% | Not in release | +10.8% |
| Asia Pacific, whole region | Not in release | Not in release | −0.5% | Not in release |
For the fourth quarter Marriott guides to 4.5–5.0 per cent, while Hilton guides to 3.0–3.5 per cent and expects the quarter to be "affected by midterm elections and increased impact from the Middle East". Hilton's second quarter is in our 2026 hotel industry performance tracker.
Hilton also began trading on Nasdaq, where Marriott is listed, on Thursday 5 November under its existing ticker, HLT. It says the move "does not alter" its business strategy.
Why are Marriott's fees rising faster than RevPAR?
Franchise and base management fees rose 13 per cent to $1,341 million, which Marriott said was "primarily driven by higher co-branded credit card fees, higher RevPAR and rooms growth". In August it announced new long-term US card agreements with JPMorgan Chase and American Express. Hilton's management and franchise fees grew 9.5 per cent; Hyatt's gross fees rose 15.2 per cent.
The pipeline reached a record of more than 634,000 rooms, against Hilton's 543,100 rooms and Hyatt's roughly 158,000. Conversions supplied over a third of Marriott's signings and over 40 per cent of openings in the first nine months (see our guide to franchise and management contracts).
Net rooms growth was 4.6 per cent, and Marriott kept its 2026 forecast at the low end of 4.5–5 per cent, unchanged from August. Hilton's net unit growth was 6.0 per cent.
Frequently asked questions
How much did Marriott's RevPAR grow in Q3 2026?
Worldwide RevPAR rose 6.5 per cent in the third quarter on a systemwide constant-dollar basis, Marriott said on 2 November, with the US & Canada up 7.4 per cent and international markets 4.4 per cent. That beat Marriott's August forecast of 3.5–4.0 per cent.
What is Marriott's 2026 RevPAR outlook?
Marriott expects worldwide RevPAR to grow 4.5–5.0 per cent in 2026, up from 3.0–3.5 per cent in August, with the same range for the fourth quarter. It forecasts adjusted EBITDA of $6,075–6,098 million and net rooms growth at the low end of 4.5–5 per cent.
Why did Marriott's Middle East RevPAR fall?
Middle East & Africa RevPAR fell 5.3 per cent as occupancy dropped 5.0 points to 60.3 per cent; room rates rose 2.5 per cent. Chief executive Anthony Capuano said the conflict was still affecting results, though trends improved meaningfully from the second quarter's 33.1 per cent fall.
How big is Marriott's development pipeline?
At 30 September the pipeline was a record 4,209 properties with more than 634,000 rooms, over half of them in international markets. About 44 per cent of the rooms, over 278,000 in 1,750 hotels, were under construction, including hotels converting to Marriott brands.
Sources
- Marriott International, third-quarter 2026 results release
- Marriott International, second-quarter 2026 results release
- Hotel Dive, Marriott saw strong RevPAR, development gains in Q3
- SingjuPost, Marriott Q3 call transcript
- Hilton, third-quarter 2026 results release
- Hyatt, third-quarter 2026 results release
- IHG, third-quarter 2026 trading update
- Hilton, planned transfer of stock listing to Nasdaq
- Nasdaq, HLT listing data
