Marriott International reported its second-quarter 2025 earnings with adjusted diluted earnings per share (EPS) of $2.65, surpassing expectations. The company posted revenue of $6.74 billion and net income of $763 million. Global revenue per available room (RevPAR) increased by 1.5%, driven by a 5.3% growth in international markets, while U.S. and Canada RevPAR remained flat compared to the prior year. Marriott's upscale U.S. hotels saw a 4% increase in RevPAR, attributed to gains in both room rates and occupancy, whereas budget hotels experienced a 1.5% decline due to weaker business transient demand and caution among lower-end customer segments. Demand outside the U.S. was stronger, with a 5% increase led primarily by higher room rates, although China was noted as the only area of weakness. The company highlighted a record pipeline of over 590,000 rooms globally. Despite these gains, Marriott trimmed its full-year revenue and profit guidance, citing softening travel demand in the U.S. The decline in international travelers to the U.S. has been linked to restrictive immigration and trade policies under the Trump administration, which have also affected travel flows between Mexico and the U.S. Industry leaders, including the CEO of Booking Holdings, have acknowledged challenges in the U.S. travel sector due to fewer international visitors.