Hotel industry giant Marriott saw a steady third quarter 2025 performance, as its luxury hotels proved resilient in the face of overall moderating demand.
Global revpar was up 0.5%, with international markets performing more strongly than hotels in the home US market. US and Canada properties reported revpar down 0.4%, counterbalanced by a nearly 5% uplift in Asia Pacific, and a 2.5% rise in the performance metric across EMEA.
A resilient market position
“Higher-end consumers have demonstrated resilience to macroeconomic uncertainties and continue to prioritize travel,” said Marriott CEO Anthony Capuano. “Our portfolio is well positioned to benefit from outperformance at the upper end, as 10% of our rooms are in the luxury segment.” At US and Canada Ritz-Carlton branded hotels, for example, rooms rates were up 4.6% in the third quarter.
Marriott’s pipeline was once again up, hitting a new high of more than 596,000 rooms signed. Of those, the company said more than 250,000 are already being built. And through 2025 to date, around 30% of signings and openings are existing hotels converting to Marriott brands.
The quarter saw Marriott launch two new brands. Its Outdoor Collection features additions via businesses including Postcard Cabins, and Trailborn Hotels, offering accommodation with an outdoors feel, for those guests seeking something distinctly different from a normal hotel, with nature to the fore. Also launched in the US was Series by Marriott, with a launch deal that will convert five select service hotels currently operating under the FOUND brand.
“The momentum around conversions has not stopped,” said Marriott CFO Leeny Oberg. “We fully expect a third of our room openings this year to be conversion rooms.”
Asia continues to be a big focus for growth across the Marriott brands. Oberg said that the APEC region currently accounts for around 8% of Marriott’s current portfolio, but 15% of its signed pipeline. Stripping out the equivalent figures for Greater China, the current China portfolio is 11% of the global total, but signings there account for 18% of the global pipeline.
Growth into the midscale segment
Across hotel segments, Marriott had for long stayed away from the midscale space. However, it is playing fast catch up, with new brands including StudioRes and Four Points Flex. The company is also expanding the brand it acquired in 2022, when it bought the Mexican City Express business. The brand is now rolling out into the USA and other countries.
Marriott’s performance is considerably helped by its loyalty programme, Marriott Bonvoy. The programme’s membership grew to close to 260 million globally by the end of September 2025, a figure that is up 18% in the last year alone. Aside from offering attractive rates for guests booking Marriott hotels, Bonvoy also has several credit card partners, allowing members to earn points from simply using the cards for day to day expenditure.
