July 30, 2016 8:55 PM ET

Hotels, Restaurants and Leisure

Company Overview of Marriott International, Inc.

Company Overview

Marriott International, Inc. operates, franchises, and licenses hotels and timeshare properties worldwide. The company operates through three segments: North American Full-Service, North American Limited-Service, and International. It also operates, markets, and develops residential properties, as well as provides services to home/condominium owner associations. The company operates its properties primarily under the brand names of The Ritz-Carlton, Bulgari Hotels & Resorts, EDITION, JW Marriott, Autograph Collection Hotels, Renaissance Hotels, Marriott Hotels, Delta Hotels and Resorts, Marriott Executive Apartments, Marriott Vacation Club, Gaylord Hotels, AC Hotels by Marriott, Courtyard by...

10400 Fernwood Road

Bethesda, MD 20817

United States

Founded in 1971

127,500 Employees

Phone:

301-380-3000

Key Executives for Marriott International, Inc.

Chief Executive Officer, President, Director, Member of Executive Committee and Member of Committee for Excellence
Age: 57
Total Annual Compensation: $1.2M
Executive Chairman and Chairman of Executive Committee
Age: 84
Total Annual Compensation: $3.0M
Group President and Member of Committee for Excellence
Age: 59
Total Annual Compensation: $725.0K
Global Chief Development Officer, Executive Vice President and Member of Committee for Excellence
Age: 50
Total Annual Compensation: $725.0K
Compensation as of Fiscal Year 2015.

Marriott International, Inc. Key Developments

Marriott International, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Provides Earnings Guidance for the Third Quarter, Fourth Quarter and Full Year 2016

Marriott International, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the six months, the company reported net income of $466 million or $1.80 per diluted share on total revenues of $7,674 million compared to net income of $447 million or $1.59 per diluted share on total revenues of $7,674 million a year ago. Operating income was $756 million compared to $701 million a year ago. Income before taxes was $670 million compared $662 million a year ago. EBITDA was $449 million compared $445 million a year ago. Adjusted EBITDA totaled $494 million against $457 million a year ago. Operating income, as adjusted was $778 million. Income before income taxes as adjusted was $705 million. Net income, as adjusted was $491 million or $1.90 per diluted share. For the quarter, the company reported net income of $247 million or $0.96 per diluted share on total revenues of $3,902 million compared to net income of $240 million or $0.87 per diluted share on total revenues of $3,689 million a year ago. Operating income was $389 million compared to $369 million a year ago. Income before taxes was $344 million compared $355 million a year ago. Operating income, as adjusted was $403 million. Income before income taxes as adjusted was $369 million. Net income, as adjusted was $265 million or $1.03 per diluted share. Adjusted EBITDA totaled $494 million, an 8% increase over second quarter 2015 adjusted EBITDA of $457 million.  The company provided earnings guidance for the third quarter, fourth quarter and full year 2016. For the third quarter the company expects total fee revenue of $495 million to $500 million, depreciation, amortization, and other expenses of approx. $35 million, operating income of $370 million to $375 million and adjusted EBITDA of $476 million to $481 million. For the third quarter, the company expects worldwide system-wide constant dollar RevPAR will increase 3% to 4%, benefiting from the favorable holiday pattern and the strong group bookings, including the Olympics in Brazil. For the fourth quarter the company expects total fee revenue of $485 million to $490 million, depreciation, amortization, and other expenses of approx. $34 million, operating income of $361 million to $371 million and adjusted EBITDA of $461 million to $471 million. For the year the company expects operating income of $1,509 million to $1,524 million and adjusted EBITDA of $1,889 million to $1,904 million and depreciation, amortization of $130 million and $130 million.

Courtyard by Marriott International, Inc. Continues Rapid Growth in Mexico with Plans for New Property in Mazatln, Sinaloa, Mexico

Marriott International, Inc. announced the signing of agreement with Inmobiliaria Turistica de Mazatlan to bring Marriott International's rapidly growing Courtyard brand to Mazatln, Sinaloa, Mexico. Construction of the 200-room Courtyard property is set to begin in late 2016 and it is expected to open in 2019. The hotel is owned by Inmobiliaria Turistica de Mazatlan, S.A. and managed by Marriott International. Once completed, Courtyard Mazatln will be poised to attract business travelers by offering a refreshing ambience that helps guests stay connected, productive and balanced while traveling. The hotel will be located on a 4,650 m2 ocean-front site located in Mazatl's Zona Dorada district. The project will inject an estimated $23 million into the local economy, The property will feature the Courtyard brand's thoughtfully designed guest rooms provide the optimum balance between work, relaxation, comfort and sleep, public spaces where high tech meets high style and offer hot and healthy breakfast selections and light evening fare, including snacks, cocktails, wine and beer.

Marriott International, Inc., Q2 2016 Earnings Call, Jul 28, 2016

Marriott International, Inc., Q2 2016 Earnings Call, Jul 28, 2016

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 27, 2016
The Ritz-Carlton, Dove Mountain Resort
Merger/Acquisition
November 18, 2015
Marriott International, Portfolio of Six Courtyard by Marriott Hotels
Merger/Acquisition
November 16, 2015
Starwood Hotels & Resorts Worldwide Inc.
 

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