Hotels, Restaurants & Leisure
Marriott's Q2 FY2026 net fee revenues grew strongly on co-branded credit card momentum, but impairment and litigation charges capped profit growth.
Key risk: Negative Shareholders' Equity and Aggressive Capital Returns
Stockholders' equity was -$4.5 billion as of June 30, 2026, reflecting large share buybacks ($1.8 billion YTD) and dividends that exceed net income, potentially limiting financial flexibility.
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