Marriott International (MAR) J.P. Morgan Gaming, Lodging, Restaurant, and Leisure Management Access Forum summary

Strategic priorities and growth outlook

• Focus on building a global ecosystem with minimal leakage, anchored by the Bonvoy loyalty program and best-in-class brands and experiences worldwide.

• Accelerating net unit growth by ensuring the right product is available everywhere for every trip purpose.

• Major technology replatforming underway for property management, central reservations, and loyalty systems, aiming for transformational impact.

• Emphasis on leveraging emerging technologies, especially AI, to drive efficiency both above property and at the hotel level.

• Strategic priorities are consistent globally, with the U.S. as a more mature market but similar focus areas.

Market trends and performance

• Strong global RevPAR growth in January and February, ahead of expectations; March impacted by Middle East conflict, with effects largely contained to the region.

• Middle East represents about 4% of global rooms and fees, with 7% of the pipeline; current occupancies are weak due to conflict.

• Europe remains stable, but risks exist if conflict expands; oil price volatility could affect travel patterns, especially U.S. outbound.

• World Cup 2026 expected to provide 40 basis points of upside in the U.S. and 35 globally, with strong inbound international bookings.

Brand portfolio and development

• Portfolio includes about 40 brands, offering broad choice to guests and owners; ongoing work to ensure distinct positioning for each brand.

• Targeting 4.5%-5% net room growth, driven by a mix of new builds and conversions, with 30%-40% of recent signings and openings from conversions.

• Portfolio conversions, such as the MGM and Fern deals, are a key focus for scalable growth.

• 40% of the 600,000-room pipeline is in upper upscale and luxury, with midscale representing 5% but growing rapidly.

• Growth in both midscale and luxury segments is being pursued aggressively, not as a trade-off.