Marriott beat expectations as U.S. hotel demand rose. The key is demand, not just the headline beat: U.S. travel spend is holding up, and that keeps lodging multiples supported.

What happened: Marriott posted earnings that beat expectations as U.S. hotel demand rose, and it raised its 2026 RevPAR growth outlook. Key numbers: 2026 RevPAR growth outlook raised to 4.5% to 5%. RevPAR in the U.S. and Canada rose 7.4% in the quarter. Why it matters: The raised outlook signals stronger expected revenue per available room, and the 7.4% quarterly RevPAR gain in the U.S. and Canada accompanied the earnings beat.

Marriott posted earnings that beat expectations as U.S. hotel demand rose, and it raised its 2026 RevPAR growth outlook.

The raised outlook signals stronger expected revenue per available room, and the 7.4% quarterly RevPAR gain in the U.S. and Canada accompanied the earnings beat.