MARRIOTT INTERNATIONAL INC /MD/

For the period ended Jun 30, 2025. Filed Aug 5, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Aug 5, 2025

MAR$428.26+2.7%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Income

(in millions, except per share amounts)

	Three Months Ended		Six Months Ended
	June 30, 2025	June 30, 2024	June 30, 2025	June 30, 2024
REVENUES
Base management fees	$340	$330	$665	$643
Franchise fees	860	818	1,606	1,506
Incentive management fees	200	195	404	404
Gross fee revenues	1,400	1,343	2,675	2,553
Contract investment amortization	(29)	(27)	(57)	(50)
Net fee revenues	1,371	1,316	2,618	2,503
Owned, leased, and other revenue	441	395	802	752
Cost reimbursement revenue	4,932	4,728	9,587	9,161
	6,744	6,439	13,007	12,416
OPERATING COSTS AND EXPENSES
Owned, leased, and other - direct	328	296	624	582
Depreciation, amortization, and other	53	47	104	92
General, administrative, and other	245	248	490	509
Restructuring and merger-related charges	8	8	9	16
Reimbursed expenses	4,874	4,645	9,596	9,146
	5,508	5,244	10,823	10,345
OPERATING INCOME	1,236	1,195	2,184	2,071
Gains and other income, net	5	4	3	8
Interest expense	(203)	(173)	(395)	(336)
Interest income	12	9	21	19
Equity in earnings	4	5	5	5
INCOME BEFORE INCOME TAXES	1,054	1,040	1,818	1,767
Provision for income taxes	(291)	(268)	(390)	(431)
NET INCOME	$763	$772	$1,428	$1,336
EARNINGS PER SHARE
Earnings per share – basic	$2.78	$2.70	$5.18	$4.64
Earnings per share – diluted	$2.78	$2.69	$5.17	$4.62

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.