Marriott (MAR) Q1 FY25 earnings call

Earnings call· Mar 2025 (Q1 FY25)· Consumer Discretionary· May 6, 2025

Source: earnings call transcript

Marriott delivered strong first-quarter results, exceeding expectations with robust international RevPAR growth and record development activity. Despite an uncertain macroeconomic environment, particularly in the U.S. & Canada, the company is leveraging its global portfolio and loyalty program. The full-year outlook was adjusted to reflect U.S. softness, but long-term growth strategies remain on track, supported by the upcoming citizenM acquisition and digital transformation.

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MAR operating KPIs by quarter

MAR operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Dec 2024 Q4 FY24	This call Mar 2025 Q1 FY25	Sep 2025 Q3 FY25	Dec 2025 Q4 FY25	Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Change vs prior quarter
Rooms	1.7M+ Our industry-leading global lodging portfolio now goes over 1.7 million rooms across 144 countries and territories. Source: earnings call transcript	—	1.75M+ Development activity remained strong, and we grew our industry-leading global portfolio of rooms by 4.7% year-over-year to over 1.75 million rooms across more than 9,700 properties at the end of September. Source: earnings call transcript	<1.78M With rooms growth as one of the top company priorities, I'm proud that Marriott's industry-leading global portfolio stood at nearly 1.78 million rooms across more than 9,800 properties in 145 countries and territories at the end of December. Source: earnings call transcript	—	1.8M+ We grew net rooms by 4.5% over the 12 months ending June 30, further expanding our industry-leading global portfolio to over 1.8 million rooms across more than 10,000 properties. Source: earnings call transcript	—
Development pipeline rooms	577K+ With a record of over 1,200 deals signed last year, we ended the year with over 577,000 rooms in our pipeline. Source: earnings call transcript	587K+ Our pipeline totaled a record of over 587,000 rooms at the end of the quarter with 42% of pipeline rooms under construction. Source: earnings call transcript	596K+ Our pipeline grew to a new high of more than 596,000 rooms at quarter end with over 250,000 pipeline rooms under construction. Source: earnings call transcript	610K At the end of December, our pipeline had grown to a record 610,000 rooms, up 2% from the prior quarter and up 6% from the prior year. Source: earnings call transcript	<618K Our global pipeline rose over 5% year-over-year to a new record of nearly 618,000 rooms at the end of the quarter, with 43% of pipeline rooms under construction, including rooms that are pending conversion. Source: earnings call transcript	~629K Our global pipeline grew nearly 7% year-over-year to a new record of approximately 629,000 rooms at the end of June. Source: earnings call transcript	—
Loyalty program members	<228M We added over 31 million new members to our loyalty program last year, growing to nearly 228 million members at year-end. Source: earnings call transcript	<237M Our powerful industry-leading Marriott Bonvoy loyalty program had nearly 237 million members at the end of March. Source: earnings call transcript	<260M Membership grew to nearly 260 million members at the end of September, up 18% year-over-year. Source: earnings call transcript	271M Last year alone, 43 million new members joined Bonvoy, propelling the membership base to 271 million members worldwide at year-end. Source: earnings call transcript	<283M Our powerful industry-leading Marriott Bonvoy loyalty program had nearly 283 million members at the end of March. Source: earnings call transcript	295M+ the continued growth of our global lodging system and the powerful combination of scale and engagement represented by our cardholders and more than 295 million loyalty program members. Source: earnings call transcript	—
Properties	—	—	9,700+ Development activity remained strong, and we grew our industry-leading global portfolio of rooms by 4.7% year-over-year to over 1.75 million rooms across more than 9,700 properties at the end of September. Source: earnings call transcript	9,800+ With rooms growth as one of the top company priorities, I'm proud that Marriott's industry-leading global portfolio stood at nearly 1.78 million rooms across more than 9,800 properties in 145 countries and territories at the end of December. Source: earnings call transcript	—	10K+ We grew net rooms by 4.5% over the 12 months ending June 30, further expanding our industry-leading global portfolio to over 1.8 million rooms across more than 10,000 properties. Source: earnings call transcript	—

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

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