Marriott CFO: Year-End Softness, Sonder Lessons, and 2026 Rebound
Photo Credit: Leeny Oberg, Marriott’s chief financial officer and EVP of development, in a recent company photo. Marriott
Skift Take
Marriott appears unfazed by a fourth quarter that's trending softer and by Sonder's collapse. Its message instead: the strategy holds, luxury and group bookings are resilient, and 2026 might look better than many expect.
Marriott's outgoing CFO said Thursday that the prolonged federal government shutdown has weighed on hotel performance.
For the fourth quarter, Oberg said she expected Marriott's global RevPAR to come in "probably at the lower end" of its 1% to 2% forecast range.
Speaking at an investor conference in her final months before retirement, Leeny Oberg, who also serves as executive vice president of development, outlined Thursday how the lodging giant's projections eroded throughout 2025.
"Clearly, the government shutdown extended longer than anyone expected," Oberg said. "That is part of what you're seeing when you think about Q4."
Oberg also discussed the collapse of Sonder, an apartment-hotel brand it had added earlier this year, and she gave an upbeat outlook for 2026 while glossing on AI's potential impact on distribution.
Shutdown's TollMarriott entered the year expecting global revenue per available room, or RevPAR, to grow ar
