Murano Global Investments (MRNO) Operating Expenses (2023 - 2025)
Murano Global Investments' Operating Expenses was $74.56 million in the quarter ended Dec 31, 2025, up 35.7% from $54.93 million a year earlier.
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Analysis
Murano Global Investments (MRNO) Operating Expenses (2023 - 2025) Analysis & Trends
For the year ended Dec 31, 2025, Operating Expenses at Murano Global Investments came in at $80.9 million, up 6.5% from the prior year.
- Operating Expenses shows a four-year compound annual growth rate of 104.6% (years ended Dec 2021 to Dec 2025).
- In earlier years, Operating Expenses was $75.96 million in the year ended Dec 31, 2024 (+119.1%), $34.66 million in the year ended Dec 31, 2023, $1.92 million in the year ended Dec 31, 2022 (-58.4%) and $4.61 million in the year ended Dec 31, 2021.
- The figure for the quarter ended Dec 31, 2025 marks the highest quarterly Operating Expenses in data going back to the quarter ended Mar 31, 2023.
- Compared with a year earlier, Operating Expenses was higher in five of the last six quarters, with growth averaging 99.7%.
- Per Business Quant data, MRNO's Operating Expenses in the three quarters before the quarter ended Dec 31, 2025 was -$32.37 million (quarter ended Sep 30, 2025), $20.41 million (quarter ended Jun 30, 2025) and $19.13 million (quarter ended Mar 31, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Marriott International | 109.17 Bn | 107.44 Bn | 1.54 Bn | 5.73 Bn |
| 2 | Royal Caribbean Cruises | 89.99 Bn | 86.93 Bn | 2.88 Bn | 519.00 Mn |
| 3 | Hilton Worldwide Holdings | 83.64 Bn | 80.37 Bn | 3.05 Bn | 2.42 Bn |
| 4 | Carnival | 41.71 Bn | 34.89 Bn | - | 4.63 Bn |
| 5 | Viking Holdings | 38.81 Bn | 23.94 Bn | 996.62 Mn | 268.67 Mn |
| 6 | Trip.com | 28.81 Bn | -16.23 Bn | 1.84 Bn | 1.49 Bn |
| 7 | Intercontinental Hotels | 27.73 Bn | 23.69 Bn | - | - |
| 8 | Hyatt Hotels | 17.44 Bn | 14.85 Bn | 384.00 Mn | 1.54 Bn |
| 9 | H World | 15.45 Bn | 6.85 Bn | 456.00 Mn | 753.00 Mn |
| 10 | Murano Global Investments | 16.36 Mn | -55.52 Mn | - | 21.39 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 21.39 Mn |
| Sep 30, 2025 | 42.46 Mn |
| Jun 30, 2025 | 9.01 Mn |
| Mar 31, 2025 | 9.42 Mn |
| Dec 31, 2024 | 34.83 Mn |
| Sep 30, 2024 | 23.91 Mn |
| Jun 30, 2024 | 8.89 Mn |
| Mar 31, 2024 | 4.69 Mn |
| Dec 31, 2023 | 34.41 Mn |
| Sep 30, 2023 | -17.57 Mn |
| Jun 30, 2023 | 8.74 Mn |
| Mar 31, 2023 | 8.01 Mn |
API Access
Murano Global Investments Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=MRNO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "MRNO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=MRNO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();