H vs MAR: Hyatt Hotels and Marriott International compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Marriott International is the larger company, worth $102.1B, about 6.8 times Hyatt Hotels.
- Marriott International grew revenue faster over the last year (+4.8% vs +1.2%).
- Hyatt Hotels's price assumes faster free cash flow growth: about 26% a year, against 14% for Marriott International (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | H | MAR |
|---|---|---|
| Market cap | $15.0B | $102.1B |
| Share price | $161.94 | $365.88 |
| Revenue (last fiscal year) | $7.1B | $26.2B |
| Free cash flow (last fiscal year) | $159M | $2.6B |
| Revenue growth, last year | +1.2% | +4.8% |
| Revenue growth per year, last 5 fiscal years | +23.7% | +17.2% |
| Operating margin | — | 15.8% |
| Net margin | 1.1% | 9.6% |
| Return on equity | 2.4% | — |
| P/E (trailing) | — | 40.5x |
| Price / free cash flow | 94.3x | 39.1x |
| EV / EBITDA | 22.6x | 23.7x |
| FCF growth the price implies | 25.6% | 13.8% |
| Dividend yield | 0.36% | 0.69% |
| Debt / equity | 3.13x | — |
| Fundamental grade | F | D |
| Superinvestors holding it | 5 | 10 |
| Insider purchases, last 12 months | 0 | 3 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Hyatt Hotels
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $3.0B | $204M | — |
| 2022 | $5.9B | $473M | — |
| 2023 | $6.7B | $602M | — |
| 2024 | $6.6B | $463M | — |
| 2025 | $7.1B | $159M | — |
Marriott International
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $13.9B | $994M | 12.6% |
| 2022 | $20.8B | $2.0B | 16.7% |
| 2023 | $23.7B | $2.7B | 16.3% |
| 2024 | $25.1B | $2.0B | 15.0% |
| 2025 | $26.2B | $2.6B | 15.8% |
Where the revenue comes from
Hyatt Hotels · by segments, 2025
Management and franchising$4.8B67%
Owned and leased$1.4B19%
Distribution$946M13%
Marriott International · by segments, 2025
U.S. & Canada$19.3B83%
EMEA$2.4B10%
APEC$1.1B5%
Greater China$590M3%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open H in InvestinglyQuestions
Which is bigger, Hyatt Hotels or Marriott International?
Marriott International (MAR), at $102.1B against $15.0B.
Which grows faster, H or MAR?
Marriott International: revenue grew +4.8% over the last year, against +1.2%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.