Marriott International — Aug 5, 2025 release

Year-End 2024 Net rooms growth Approaching 5% ($ in millions, except EPS) Third Quarter 2025 Full Year 2025 Gross fee revenues $1,310 to $1,325 $5,365 to $5,420 Owned, leased, and other revenue, net of direct expenses $80 to $90 $360 to $370 General, administrative, and other expenses $245 to $240 $985 to $965 Adjusted EBITDA 1,2 $1,288 to $1,318 $5,310 to $5,395 Adjusted EPS – diluted 2,3 $2.31 to $2.39 $9.85 to $10.08 Investment spending (including $355 million for citizenM) 4 $1,355 to $1,455 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 – diluted for third quarter and full year 2025 do not include cost reimbursement revenue, reimbursed expenses, restructuring and merger-related charges, income tax special items, or any potential asset sales or property or brand acquisitions that may occur during the year (other than our acquisition of the citizenM brand in the 2025 third quarter), each of which the company cannot forecast with sufficient accuracy and without unreasonable efforts, and which may be significant. Adjusted EPS – diluted for full year 2025 excludes the benefit of income tax special items of $74 million. 3 Assumes the level of capital return to shareholders noted above. 4 This outlook includes $355 million of funding related to our acquisition of the citizenM brand. Investment spending includes capital and technology expenditures, loan advances, contract acquisition costs, and other investing activities, but excludes any other potential property or brand acqui