- Marriott’s worldwide RevPAR rose 1.9 percent in Q4.
- The government shutdown reduced U.S. RevPAR.
- Development pipeline reached 4,100 properties.
MARRIOTT INTERNATIONAL REPORTED worldwide RevPAR rose 1.9 percent in the fourth quarter and 2 percent for full-year 2025. Its development pipeline reached 4,100 properties and nearly 610,000 rooms.
RevPAR fell 0.1 percent in the U.S. and Canada during the quarter due to the 43-day U.S. government shutdown but rose 0.7 percent for the full year, Marriott said in a statement.
“Marriott delivered strong results in 2025, reflecting the strength of our brands, delivery of experiences to our customers and momentum in development activity,” said
Anthony Capuano, Marriott’s president and CEO. “For the full year, net rooms grew over 4.3 percent, worldwide RevPAR increased 2 percent and our fee-driven, asset-light business model generated over $4 billion in capital returns to shareholders.”
Capuano said worldwide RevPAR rose 1.9 percent in the fourth quarter, driven by ADR gains.
“In the U.S. and Canada, RevPAR was roughly flat, reflecting the extended government shutdown’s impact on the business transient segment,” he said. “Globally, luxury hotels continued to outperform, with RevPAR rising over 6 percent, while performance moderated down the chain scales. Our global RevPAR index, which remains above peers, rose in the fourth quarter and for the full year.”
Marriott reported fourth-quarter net income of $445 million and adjusted net income of $695 million. Full-year net income totaled $2.601 billion and adjusted net income was $2.742 billion. Fourth-quarter adjusted EBITDA was $1.402 billion and full-year adjusted EBITDA was $5.383 billion.
Pipeline expansion
Marriott added nearly 100,000 rooms in 2025, driving net rooms growth of 4.3 percent from year-end 2024, the statement said. At year-end, Marriott’s development pipeline included about 4,100 properties and nearly 610,000 rooms, with 43 percent under construction, including pending conversions.
“Our development team signed approximately 163,000 organic rooms during the year and our global pipeline expanded to nearly 610,000 rooms at year-end, up roughly 6 percent from 2024,” Capuano said. “Conversions accounted for about one third of organic room signings and gross room additions, showing continued demand for our brands worldwide.”
Capuano said the company continues to enhance its portfolio to meet guests’ evolving needs.
“During the fourth quarter, we completed the integration of the citizenM portfolio, adding 37 hotels and nearly 8,800 rooms,” he said. “We opened the first 37 Series by Marriott hotels in India and expanded the brand into the U.S. and Canada, with two properties opening shortly after the brand’s regional debut.”
At year-end, Marriott’s system included over 9,800 properties and nearly 1.78 million rooms, the statement said. The development pipeline totaled 4,056 properties with nearly 610,000 rooms, including 234 properties with over 35,000 rooms approved but not yet under contract. The pipeline included 1,648 properties with nearly 265,000 rooms under construction, including hotels converting to the Marriott system. Over half of the rooms were in international markets.
“In 2025, we added approximately 43 million members to Marriott Bonvoy, bringing total membership to nearly 271 million,” Capuano said. “Member stays accounted for 75 percent of U.S. and Canada room nights and 68 percent globally.”
Capuano said the company remains focused on disciplined execution of its growth strategy, delivering experiences for guests, performance for owners and long-term value for shareholders.
Satya Anand will become Marriott International’s group president for the U.S., Canada, the Caribbean and Latin America on March 28, succeeding Liam Brown. He will oversee all four markets under a single structure to improve alignment and collaboration.
