Marriott International (MAR) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, everyone, and welcome to the Marriott International Q3 2025 earnings. At this time, all participants are in a listen-only mode. Later, there will be a question-and-answer session. You may queue for a question at any time by pressing the star key, followed by the number 1 on your telephone keypad. You may remove yourself from the queue by pressing star 2. Please be advised that today's call is being recorded. Should you require operator assistance, you may press star 0. I'd now like to turn the floor over to Jackie McConica, Senior Vice President, Investor Relations. Please go ahead. Thank you. Good morning, everyone, and welcome to Marriott's third quarter 2025 earnings call. On the call with me today are Tony Capuano, our President and Chief Executive Officer, Leni Oberg, our Chief Financial Officer and Executive Vice President, Development, and Pilar Fernandez, our Senior Director of Investor Relations. Before we begin, I would like to remind everyone that many of our comments today are not historical facts and are considered forward-looking statements under federal securities laws. These statements are subject to numerous risks and uncertainties, as described in our SEC filings, which could cause future results to differ materially from those expressed in or implied by our comments. Unless otherwise stated, our RESPAR, occupancy, average daily rate, and property-level revenues comments reflect system-wide constant currency results for comparable hotels, and all changes refer to year-over-year changes for the comparable period. Statements in our comments and the press release we've issued earlier today are effective only today and will not be updated as actual events unfold. You can find our earnings release and reconciliations of all non-GAAP financial m...