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MARNASDAQ/consumer discretionary

Marriott International, Inc.

$362.87Down-13,24 (-3,52%)
Research reviewed: 2026年7月12日 00:00 UTC
Research overview3-month price contextInvestment thesisKey catalystsLatest earnings researchRecent newsData and research sources

Research overview

Marriott International, Inc. operates in Hotels, Resorts and Cruise Lines within the consumer discretionary sector. This profile tracks its company-specific earnings drivers, valuation conditions, and primary-source risks.

Eröffnung
375,83
Hoch
378,07
Tief
361,73
Marktkapitalisierung
95,68 Mrd.
KGV
38.00
52-Wochen-Hoch
--
Dividende
0.780%
Quartalsdividende
--

3-month price context

直近3か月の推移を表示し、フル調査ワークスペースに進む前に短期構造を把握できます。

Investment thesis

Base case
Conversions and new construction can expand the fee base with limited owned-real-estate capital. The base case remains conditional on travel-cycle sensitivity staying manageable.
Bull case
Conversions and new construction can expand the fee base with limited owned-real-estate capital. Loyalty scale can drive direct bookings, owner value and co-branded card economics. Luxury demand and underpenetrated international markets can broaden fee growth.
Bear case
Recession, geopolitical disruption or weaker corporate travel can reduce room rates and occupancy. High financing, labor or renovation costs can delay openings and strain franchise relationships. Cyber incidents, privacy rules or loyalty-program cost inflation can damage the asset-light model.
Thesis invalidation
Reassess the thesis if recession, geopolitical disruption or weaker corporate travel can reduce room rates and occupancy.

Key catalysts

  • Net rooms growth

    Conversions and new construction can expand the fee base with limited owned-real-estate capital.

  • Bonvoy ecosystem

    Loyalty scale can drive direct bookings, owner value and co-branded card economics.

  • Luxury and international mix

    Luxury demand and underpenetrated international markets can broaden fee growth.

Principal risks

  • Travel-cycle sensitivity

    Recession, geopolitical disruption or weaker corporate travel can reduce room rates and occupancy.

  • Owner economics

    High financing, labor or renovation costs can delay openings and strain franchise relationships.

  • Data and loyalty liabilities

    Cyber incidents, privacy rules or loyalty-program cost inflation can damage the asset-light model.

Latest earnings research

Q1 2026

Marriott's first-quarter update highlighted global room growth, a large development pipeline and fee-driven earnings, while regional travel demand remained uneven.

Valuation interpretation

  • Marriott's asset-light premium depends on converting its pipeline into openings while preserving owner returns.
  • Fee durability should be tested against travel cyclicality and the cash cost of loyalty obligations.

Peer research

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Recent news

Insider Monkey · vor 10 Stunden

Jim Cramer Believes Marriott Vacations “Is a Long-Term Winner” But Prefers Marriott Hotels

Marketing Dive · vor 14 Stunden

M+C Saatchi NA launches entertainment arm as branded content booms

Hotel Management Network · vor 18 Stunden

Hotel boom masks growing pressure on property owners

Simply Wall St. · vor 3 Tagen

Coca Cola (KO) Stock May Be 10% Below Fair Value Despite India IPO Plans

GuruFocus.com · vor 3 Tagen

Amazon, Microsoft and Meta Among HSBC Earnings Picks

MT Newswires · vor 3 Tagen

Marriott, Hilton Second-Quarter RevPAR Could Top Guidance, UBS Says

Data and research sources

Research updated: 2026年7月12日 00:00 UTC
3 verified sources
Marriott International Reports First Quarter 2026 ResultsMarriott International, Inc. · earningsVerified

Fetched: 2026/7/12 0:00:00 UTC

Published: 2026/5/5 0:00:00

Open original source
Marriott International, Inc. Investor RelationsMarriott International, Inc. · companyVerified

Fetched: 2026/7/12 0:00:00 UTC

Open original source
Marriott International, Inc. SEC filingsU.S. Securities and Exchange Commission · filingVerified

Fetched: 2026/7/12 0:00:00 UTC

Published: 2026/5/5 0:00:00

Open original source

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