Marriott International, Inc. operates, franchises, and licenses hotels and timeshare properties under various brand names worldwide. The company also operates, markets, and develops residential properties and provides services to home/condominium owner associations. As of December 31, 2015, the company operated, franchised, or licensed 4,424 properties worldwide, with 4,424 rooms inclusive of 41 home and condominium products (4,203 units) for which it manages the related owners’ associations. Company-Operated Properties As of December 31, 2015, the company operated 1,116 properties (300,305 rooms) under long-term management agreements with property owners, 41 properties (9,206 rooms) under long-term lease agreements with property owners (management and lease agreements together, the Operating Agreements), and 6 properties (1,437 rooms) that it owns. In addition, the company operated under long-term management agreements 41 home and condominium products (4,203 units) for which it manages the related owners’ associations. The company provides centralized reservation services and national advertising, marketing, and promotional services, as well as various accounting and data processing services. Franchised, Licensed, and Unconsolidated Joint Venture Properties The company has franchising, licensing, and joint venture programs that permit other hotel owners and operators and Marriott Vacations Worldwide Corporation (MVW) to use majority of its lodging brand names and systems. It is a partner in unconsolidated joint ventures that manage hotels. As of December 31, 2015, the company had 3,074 franchised properties (420,562 rooms), 88 unconsolidated joint venture properties (10,810 rooms), and 58 licensed timeshare, fractional, and related properties (12,807 units). Residential The company uses or licenses its trademarks for the sale of residential real estate, in conjunction with hotel development and receives branding fees for sales of such branded residential real estate by others. Residences are constructed and sold by third-party owners. The company has used or licensed its The Ritz-Carlton, Bulgari Hotels & Resorts, EDITION, Autograph Collection Hotels, JW Marriott, and Marriott Hotels brand names and trademarks for residential real estate sales. Segments The company’s operations are grouped into three business segments, such as North American Full-Service, North American Limited-Service and International. North American Full-Service includes the Marriott Hotels; JW Marriott; Marriott Conference Centers; Renaissance Hotels; Autograph Collection Hotels; Delta Hotels and Resorts; Gaylord Hotels; The Ritz-Carlton; The Ritz-Carlton Residences; EDITION; and EDITION Residences. North American Limited-Service includes Courtyard; Residence Inn; Fairfield Inn & Suites; SpringHill Suites; TownePlace Suites; and AC Hotels by Marriott. International includes Marriott Hotels; JW Marriott; Marriott Executive Apartments; Renaissance Hotels; Autograph Collection Hotels; Protea Hotels; The Ritz-Carlton; The Ritz-Carlton Residences; The Ritz-Carlton Serviced Apartments; Bulgari Hotels & Resorts; Bulgari Residences; EDITION; Courtyard; Residence Inn; Fairfield Inn & Suites; AC Hotels by Marriott; and Moxy Hotels. Brands The company’s principal brands include The Ritz-Carlton; Gaylord Hotels; Bulgari Hotels & Resorts; AC Hotels by Marriott; EDITION; Courtyard by Marriott (Courtyard); JW Marriott; Residence Inn by Marriott (Residence Inn); Autograph Collection Hotels; SpringHill Suites by Marriott (SpringHill Suites); Renaissance Hotels; Fairfield Inn & Suites by Marriott (Fairfield Inn & Suites); Marriott Hotels; TownePlace Suites by Marriott (TownePlace Suites); Delta Hotels and Resorts; Protea Hotels; Marriott Executive Apartments; Moxy Hotels; and Marriott Vacation Club. The Ritz-Carltonis a luxury hospitality brand where the genuine care and comfort of guests is the highest mission. Ritz-Carlton properties provide the finest personal service and facilities for its guests so that they would enjoy a warm, relaxed, yet refined ambience. Bulgari Hotels & Resorts, developed in partnership with je
marriott international -cl a
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