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Marriott International Inc Class A MAR Stock Quote

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Morningstar‘s Stock Analysis MAR

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Marriott Demand Improving Into 2023 Amid an Uncertain Economic Background

Dan Wasiolek Senior Equity Analyst

Business Strategy and Outlook

| Dan Wasiolek |

While COVID-19 and inflation have potential to impact near-term travel demand in many regions of the world, we expect Marriott to expand room and revenue share in the hotel industry over the next decade. Our constructive stance is driven by a favorable next-generation traveler position supported by renovated and newer brands, as Marriott has added several new brands since 2007 and renovated a meaningful percentage of core Marriott and Courtyard hotels in the past few year. Also, we see Marriott having an industry-leading loyalty program, with over 160 million members (as of the end of 2021), which incentivizes third-party hotel owners to join the company's brands. Additionally, we believe the acquisition of Starwood (closed in September 2016) has strengthened Marriott's long-term brand advantage, as Starwood's global luxury portfolio complemented Marriott's dominant upper-scale position in North America.

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Key Statistics MAR

Company Profile MAR

Business Description

Marriott operates about 1.5 million rooms across roughly 30 brands. At the end of 2021, luxury represented 10% of total rooms, while full service, limited service, and time-shares were 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 two thirds of total rooms. Managed, franchise, and incentive fees represent the vast majority of revenue and profitability for the company.

10400 Fernwood Road
Bethesda, MD, 20817
T +1 301 380-3000
Industry Lodging
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 120,000

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