Marriott's Brand Advantage Still Growing Amid Signs of Economic Slowdown
We saw signs of macroeconomic slowing in Marriott's fourth-quarter results, echoing recent comments from other narrow-moat travel companies (Booking, Expedia, and Amadeus) and causing the company to lower its total 2019 growth outlook for revenue per available room to 1%-3% from 2%-3%. Having already largely accounted for this deceleration (our model calls for 2% revPAR lift this year), we don't plan any material change to our $123 fair value estimate. While Marriott's brand advantage, the sourc...Marriott International is a worldwide operator, franchisor, and licensor of hotel, residential and timeshare properties under various brand names at different price and service points. The company has operations in the following reportable business segments: North American Full-Service, which includes the company's Luxury and Premium properties located in United States and Canada; North American Limited-Service, which includes the company's Select properties located in United States and Canada; and Asia Pacific, which includes all properties in the company's Asia Pacific region.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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