New York, Feb 11, 2026, 05:33 EST — Premarket
- Marriott shares jumped last session after the company released its 2026 outlook, pointing to increased fee revenue.
- Luxury travel held steady, but the company pointed to weaker trends among budget travelers.
- Traders are watching for momentum in U.S. travel trends, with crucial U.S. inflation numbers set for release Friday.
Marriott International shares surged 8.5% on Tuesday, ending the session at $359.35 after touching a new all-time high of $363.54. The rally followed the company’s outlook for a 35% jump in co-branded credit card fees. Marriott is projecting RevPAR growth of 1.5% to 2.5% in 2026, with the FIFA World Cup expected to tack on another 30 to 35 basis points to the global figure. CEO Anthony Capuano cited “almost insatiable demand for luxury” abroad, and Jefferies’ David Katz flagged the fee guidance as “higher than expected.” 1
This shift puts hotel stocks front and center as a gauge of just how much consumers are willing to shell out for travel in 2026. Marriott’s remarks only highlighted what investors have been tracking—luxury travelers are still opening their wallets, but those looking for deals aren’t keeping pace.
Marriott’s earnings update showed global RevPAR up 1.9% in the fourth quarter; international properties saw a 6.1% bump, while the U.S. and Canada slipped 0.1%. CEO Capuano pointed to reduced business transient demand tied to an extended U.S. government shutdown, though luxury segments bucked the trend—RevPAR there jumped over 6% for the quarter. Marriott wrapped up 2025 with a record pipeline approaching 610,000 rooms, bought back 3.5 million shares for $1.0 billion last quarter, and is targeting capital returns topping $4.3 billion in 2026. The outlook, Marriott noted, doesn’t reflect any hit from its ongoing U.S. co-branded card contract negotiations. 2
On Tuesday, Marriott filed an 8-K with the SEC, tacking on its earnings press release. 3
The company put out its annual 10-K for the year ended Dec. 31, 2025—a filing that investors typically scour for changes in risk disclosures, tweaks to fee details, loyalty economics, and leverage. 4
Marriott’s jump sent hotel stocks higher last session. Hilton tacked on 3.1%, hitting a fresh 52-week high, and Hyatt advanced 5.9%. Investors pushed into travel and leisure names, shrugging off a mixed market backdrop. 5
The rally doesn’t leave much margin for error if U.S. demand remains uneven. A miss on business travel numbers or a tougher result from the U.S. credit-card negotiations would shift the pressure back onto room-rate increases.
Eyes turn next to Friday, Feb. 13, when January’s U.S. consumer price inflation lands at 8:30 a.m. ET—a figure with the power to jolt rate bets and ripple into discretionary spend. Marriott’s immediate questions are more straightforward: Will luxury demand stick through spring, and does management finally pin down a date on the U.S. co-branded card renegotiation? 6
