Marriott International Upsizes Revolving Credit Facility to $5.0B and Extends Maturity to 2031

Overview & Event Summary

On September 23, 2026, Marriott International, Inc. entered into a Seventh Amended and Restated Credit Agreement with Bank of America, N.A., as administrative agent, and a syndicate of lenders. This agreement amends and restates the company's prior $4.50 billion multicurrency revolving credit facility originally entered into in December 2022.

Key Terms of the Amended Agreement

• Increased Facility Capacity: Aggregate commitments have been upsized from $4.50 billion to $5.00 billion.
• Accordion Feature: The maximum aggregate commitment option expandable upon request was increased from $5.00 billion to $5.50 billion.
• Extended Maturity: The termination date was extended by nearly four years, from December 14, 2027 to September 23, 2031.
• Interest Rates & Pricing Structure: Borrowings continue to bear interest primarily at SOFR plus an applicable margin tied to Marriott's public debt credit ratings, along with rating-based quarterly facility fees.
• ESG/Sustainability Provisions: Added mechanics enabling future amendments to link pricing and facility fees to agreed-upon environmental key performance indicators (KPIs).
• Definitions & Flexibility: Adjusts definitions including EBITDA calculation and updates general documentation standards.

Balance Sheet & Liquidity Impact

This amendment bolsters Marriott's liquidity profile by locking in an additional $500 million in committed revolving credit capacity while pushing the maturity horizon out to 2031. It provides extended financial flexibility for capital returns, operations, and strategic investments at terms aligned with prevailing debt market standards.