VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 8, 2026

Stock Comparison

Marriott International, Inc. vs Spotify Technology S.A.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Marriott International, Inc.

MAR · NASDAQ

Market cap (USD)$83.5B
Gross margin (TTM)21.7%
Operating margin (TTM)15.9%
Net margin (TTM)10.1%
SectorConsumer
IndustryTravel Lodging
CountryUS
Data as of2026-01-01
Moat score
72/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Marriott International, Inc.'s moat claims, evidence, and risks.

View MAR analysis

Spotify Technology S.A.

SPOT · New York Stock Exchange

Market cap (USD)$121.5B
Gross margin (TTM)31.8%
Operating margin (TTM)11.7%
Net margin (TTM)8.3%
SectorCommunication Services
IndustryInternet Content & Information
CountryLU
Data as of2026-01-06
Moat score
65/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Spotify Technology S.A.'s moat claims, evidence, and risks.

View SPOT analysis

Comparison highlights

  • Moat score gap: Marriott International, Inc. leads (72 / 100 vs 65 / 100 for Spotify Technology S.A.).
  • Segment focus: Marriott International, Inc. has 2 segments; Spotify Technology S.A. has 2 segments (88.2% in Premium (subscription)).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Marriott International, Inc. has 4 moat types across 3 domains; Spotify Technology S.A. has 6 across 4.

Primary market context

Marriott International, Inc.

U.S. & Canada Lodging Platform

Market

Branded hotel franchising & management platform (including loyalty and reservation systems)

Geography

U.S. & Canada

Customer

Two-sided: travelers (guests) and hotel owners (franchisees/owners of managed properties)

Role

Brand owner / franchisor / manager; operator of reservation, loyalty, and marketing systems

Spotify Technology S.A.

Premium (subscription)

Market

Paid music and audio streaming subscriptions

Geography

Global

Customer

Consumers (end-users) and distribution partners (e.g., telcos)

Role

Streaming platform operator

Revenue share

88.2%

Side-by-side metrics

Marriott International, Inc.
Spotify Technology S.A.
Ticker / Exchange
MAR - NASDAQ
SPOT - New York Stock Exchange
Market cap (USD)
$83.5B
$121.5B
Gross margin (TTM)
21.7%
31.8%
Operating margin (TTM)
15.9%
11.7%
Net margin (TTM)
10.1%
8.3%
Sector
Consumer
Communication Services
Industry
Travel Lodging
Internet Content & Information
HQ country
US
LU
Primary segment
U.S. & Canada Lodging Platform
Premium (subscription)
Market structure
Competitive
Oligopoly
Market share
16%-18% (reported)
31%-33% (reported)
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
72 / 100
65 / 100
Moat domains
Demand, Network, Supply
Network, Demand, Legal, Supply
Last update
2026-01-01
2026-01-06

Moat coverage

Shared moat types

Brand TrustTwo Sided Network

Marriott International, Inc. strengths

Distribution ControlLong Term Contracts

Spotify Technology S.A. strengths

Data Network EffectsInteroperability HubContent Rights CurrencyScale Economies Unit Cost

Segment mix

Marriott International, Inc. segments

Full profile >

U.S. & Canada Lodging Platform

Competitive

n/a

International Lodging Platform

Competitive

n/a

Spotify Technology S.A. segments

Full profile >

Premium (subscription)

Oligopoly

88.2%

Ad-Supported (advertising)

Competitive

11.8%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

View the moat stocks list

Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.