Marriott International Inc Class A

MAR: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$528.00	Gbkd	Fnkvdtmh

We See Marriott’s Travel Demand Lifting in 2023 Amid an Uncertain Economic Backdrop; Shares on Sale

Dan Wasiolek

Nov 3, 2022

We do not plan to materially alter our Marriott $178 valuation after the hotelier reported improved demand in its third quarter, with commentary for a further lift in 2023, in line with our existing forecast. We see shares as undervalued.

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