---
title: "Marriott International: Business Model"
description: "Marriott International revenue by business segment from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/marriott-international/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Marriott International: Business Model & Revenue Engine

## Direct Answer

Marriott International reports revenue across 4 business segments in its fiscal 2025 Form 10-K. US and Canada is the largest, with $19.3 billion of revenue (74% of the total), followed by EMEA at $2.4 billion (9%).

## How Does Marriott International Make Money?

US and Canada supplies 74% of revenue, so Marriott International's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, APEC grew fastest (+9.9%) and EMEA slowest (+0.0%), so the revenue mix tilts toward APEC while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| US and Canada | $19.3 billion | $18.6 billion | 73.9% | 4.0% |
| EMEA | $2.4 billion | $2.4 billion | 9.2% | 0.0% |
| APEC | $1.1 billion | $976 million | 4.1% | 9.9% |
| Greater China | $590 million | $582 million | 2.3% | 1.4% |

![Bar chart of Marriott International revenue by segment for fiscal 2025: US and Canada 73.9%, EMEA 9.2%, APEC 4.1%, Greater China 2.3%.](https://www.getswoopr.com/images/charts/marriott-international-business-model-segment-mix.webp)
*Marriott International revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Which Marriott International Segments Earn the Most?

| Segment | FY2025 segment operating income | Segment margin |
| --- | --- | --- |
| US and Canada | $2.7 billion | 13.8% |
| EMEA | $525 million | 21.8% |
| APEC | $301 million | 28.1% |
| Greater China | $185 million | 31.4% |

Segment operating income is the profit measure Marriott International reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Marriott International more safely than against another company.

## What Does Marriott International Sell?

Marriott International also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.

| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Reimbursements | $19.2 billion | $18.5 billion | 73.3% | 3.9% |
| Fee Service | $5.3 billion | $5.1 billion | 20.3% | 4.7% |
| Owned Leased and Other | $1.7 billion | $1.6 billion | 6.4% | 8.3% |

## What the Segment Figures Do Not Show

The rows above add up to 89% of Marriott International's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Marriott International reported in the segment note and revenue disclosures of its Form 10-K filed February 10, 2026 (accession 0001048286-26-000007), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Marriott International's business segments?

In its fiscal 2025 Form 10-K, Marriott International reports revenue for US and Canada, EMEA, APEC and Greater China.

### Which part of Marriott International brings in the most revenue?

US and Canada, with $19.3 billion of revenue in fiscal 2025, or 74% of the total.

### Where does Marriott International report its segment results?

In the segment note to the financial statements in its Form 10-K, most recently filed February 10, 2026, alongside management's discussion of each segment's results.

## References

- [SEC EDGAR: MARRIOTT INTERNATIONAL INC /MD/ Form 10-K filed February 10, 2026](https://www.sec.gov/Archives/edgar/data/1048286/000104828626000007/mar-20251231.htm)
- [SEC EDGAR: MARRIOTT INTERNATIONAL INC /MD/ annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1048286&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [Marriott International company dossier](https://www.getswoopr.com/stocks/companies/marriott-international/)
- [Marriott International financial metrics](https://www.getswoopr.com/stocks/companies/marriott-international/metrics/)
- [Marriott International financial risk indicators](https://www.getswoopr.com/stocks/companies/marriott-international/risks/)
- [Marriott International peer comparison](https://www.getswoopr.com/stocks/companies/marriott-international/competitors/)
- [Marriott International business model and revenue mix](https://www.getswoopr.com/stocks/companies/marriott-international/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).