Skip to Content

Marriott International Inc Class A MAR

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Narrow-Moat Marriott’s Demand Recovery Starting To Pick Up, Led Still by the U.S. and China

Dan Wasiolek Senior Equity Analyst

Analyst Note

| Dan Wasiolek |

We may lower our 2021 Marriott International revenue per available room, or revPAR, estimate modestly to around low-60% of 2019, as Europe’s rebound appears to be tracking a few months behind the U.S. We still expect a full revenue recovery by 2023 and don’t expect to materially change our $134 fair value estimate, leaving shares slightly overvalued.

Read Full Analysis

Company Profile

Business Description

Marriott operates over 1.4 million rooms across roughly 30 brands. Luxury represents nearly 9% of total rooms, while full service, limited service, and time-shares are 43%, 46%, and 2% of all units, respectively. Marriott, Courtyard, and Sheraton are the largest brands, while Autograph, Tribute, Moxy, Aloft, and Element are newer lifestyle brands. Managed and franchised represent 97% of total rooms. North America makes up 66% of total rooms. Managed, franchise, and incentive fees represent the vast majority of revenue and profitability for the company.

Contact
10400 Fernwood Road
Bethesda, MD, 20817
T +1 301 380-3000
Sector Consumer Cyclical
Industry Lodging
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2020
Stock Type Distressed
Employees 121,000

Related