Marriott International has entered into a $5 billion multicurrency revolving credit agreement, increasing its borrowing commitments by $500 million and extending the maturity of its existing facility by nearly four years.
The amended agreement, dated September 23, 2026, replaces the company’s previous $4.5 billion revolving credit arrangement and provides additional financial flexibility for its global hotel business.
Under the new agreement, Marriott’s aggregate revolving credit commitments increase from $4.5 billion to $5 billion. The company also expanded the maximum amount available through its commitment increase option from $5 billion to $5.5 billion, subject to the agreement’s applicable terms.
The transaction extends the facility’s maturity date from December 14, 2027, to September 23, 2031, giving Marriott a longer-term source of committed liquidity.
The financing amends and restates Marriott’s revolving credit agreement originally established on December 14, 2022. The company subsequently amended that arrangement in May 2024 before replacing it with the current agreement.
The extended maturity reduces the company’s need to refinance the facility over the next several years while preserving access to a substantial source of capital.
As a revolving credit facility, the arrangement allows Marriott to borrow, repay, and potentially borrow again during the agreement’s term, subject to its conditions. The $5 billion figure represents committed borrowing capacity, not money Marriott has necessarily drawn or added to its cash balance.
The agreement also adjusts the facility’s interest rate margins and associated fees.
Borrowings will generally carry interest based on the Secured Overnight Financing Rate (SOFR), plus a spread determined by Marriott’s public debt rating.
The company will also pay quarterly facility fees based on its public debt rating. These provisions link Marriott’s borrowing costs to its credit profile.
In addition to the changes in borrowing capacity, maturity, and pricing, the agreement modifies the calculation of earnings before interest, taxes, depreciation, and amortization, or EBITDA, for purposes of the facility.
It also introduces a provision allowing Marriott and its lenders to amend the agreement in the future to adjust interest rates and fees based on mutually agreed environmental performance indicators.
However, the filing does not identify specific environmental targets or indicate that sustainability-linked pricing adjustments are already in effect.
The agreement includes customary events of default and other modifications reflecting current lending documentation standards. Marriott said the material terms of its previous credit agreement generally remain unchanged, apart from the disclosed amendments.
The expanded facility provides Marriott with additional committed financing capacity to manage its worldwide lodging business and associated corporate financial requirements.
The longer maturity and higher aggregate commitments also provide flexibility to address changing liquidity needs without immediately refinancing the entire facility.
Marriott did not disclose any borrowing related to the amendment. The filing establishes the new credit commitments and financing terms but does not indicate that the company drew down the additional $500 million.
The deal expands Marriott’s existing banking arrangements rather than representing a new acquisition or capital markets offering.
Support: The agreement was arranged with Bank of America, N.A., serving as administrative agent, alongside a group of participating banks.
