Marriott International — Feb 11, 2025 release

Company Outlook First Quarter 2025 vs First Quarter 2024 Full Year 2025 vs Full Year 2024 Comparable systemwide constant $ RevPAR growth Worldwide 3% to 4% 2% to 4% Year-End 2025 vs Year-End 2024 Net rooms growth 4% to 5% 4 ($ in millions, except EPS) First Quarter 2025 Full Year 2025 Gross fee revenues $1,240 to $1,255 $5,370 to $5,480 Owned, leased, and other revenue, net of direct expenses Approx. $55 $345 to $355 General, administrative, and other expenses $255 to $245 $985 to $965 Adjusted EBITDA 1,2 $1,170 to $1,195 $5,295 to $5,435 Adjusted EPS – diluted 2,3 $2.20 to $2.26 $9.82 to $10.19 Effective tax rate Approx. 22% Approx. 26% Investment spending 4 $1,000 to $1,100 Capital return to shareholders 5 Approx. $4,000 1 See the press release schedules for the adjusted EBITDA calculations. 2 Adjusted EBITDA and Adjusted EPS – dil uted for first quarter and full year 2025 do not include cost reimbursement revenue, reimbursed expenses, restructuring and merger-related charges, or any potential asset sales or property or brand acquisitions that may occur during the year, each of which the company cannot forecast with sufficient accuracy and without unreasonable efforts, and which may be significant. 3 Assumes the level of capital return to shareholders noted above. 4 Includes capital and technology expenditures, loan advances, contract acquisition costs, and other investing activities, but excludes any potential property or brand acquisitions, which we cannot forecast with sufficient accuracy and which may be significant. 5 Assumes the level and types of investment spending noted above and that no asset sales or property or brand acquisitions occur during the y