Marriott International, based in Bethesda, Maryland and listed on Nasdaq as MAR, is the largest hotel company in the world by rooms. Its portfolio spans luxury brands such as The Ritz-Carlton, St. Regis, JW Marriott, W Hotels and EDITION; premium brands such as Marriott Hotels, Sheraton and Westin; and select-service brands such as Courtyard, Residence Inn, Fairfield and Moxy. Managed and franchised hotels account for about 99% of its rooms.
Marriott makes money mainly from fees. Franchise fees ($3.325B in FY2025) come from owners who license a Marriott brand, reservation system and Bonvoy distribution; this line also includes co-branded credit card and residential branding fees. Base management fees ($1.322B) and incentive management fees ($791M) come from hotels Marriott operates for owners. A much larger cost reimbursement line ($19.204B) passes through property-level and centralized program costs, such as hotel staff at managed properties and loyalty, and largely nets out against matching expenses. Owned, leased and other revenue was $1.679B.