Marriott Development And Starwood Integration On Track, Despite Challenging Industry Headwinds
We don’t expect any meaningful change to our existing $74 fair value estimate for narrow moat-rated Marriott after the company reduced its expectations for near-term revenue per available room, or revPAR, growth, while signaling solid early progress on integrating the Starwood acquisition, as well as continued pipeline growth. We plan to maintain our narrow moat, as we continue to expect Marriott’s brand advantage will strengthen in the next several years due to its industry-leading loyalty prog...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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