Jan. 9 at 8:14 PM
BMO Capital Markets upgraded Marriott International to Outperform with a
$370 price target, citing stronger confidence in the hotel sector for 2026 and upside from Marriott’s credit card partnerships. The firm highlighted Marriott’s premium brand mix and asset-light, fee-based model, which supports durable growth, strong cash generation, and over
$3 billion annually in share buybacks.
BMO expects Marriott to outperform peers in RevPAR growth in 2026, viewing the stock as a more offensive cycle play than Hilton due to greater exposure to incentive fees, luxury and full-service hotels, and international markets. Marriott has outperformed Hilton by about 180 basis points in RevPAR from 2023–2025, a trend expected to continue.
The credit card program remains a key upside driver, representing about 21% of franchise fees and positioning the company well for a favorable renewal in 2026.
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