On July 17, Marriott International fell 4.08% in after-hours trading, trading at $371.14/share, with turnover of $18.26 million.

On the news front, the Marriott Bonvoy loyalty program is facing intensifying backlash over significant points devaluation. According to member data, average points redemption prices across Marriott-branded hotels have risen 15%-20%, with the market value of points dropping from approximately 400 RMB per 10,000 points to around 300 RMB per 10,000 points — a decline of roughly 25%-30%.

The adjustment is widely believed to be linked to 51 Marriott franchise hotel owners who jointly demanded a higher share of loyalty program revenues. Owners argue they bear the cost of free-night redemptions while receiving lower reimbursement compared with online travel agencies. Marriott expects fee revenue from credit-card partnerships tied to Bonvoy to rise about 35% this year to nearly $1 billion. Analysts caution that if Marriott fails to balance profit optimization with consumer acceptance and loyalty retention, the move could ultimately damage brand stickiness and long-term customer engagement.

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