Report
Dan Wasiolek
EUR 101.80 For Business Accounts Only

Marriott's leading brand advantage positions it well for long-term growth in the lodging industry.

Marriott reported strong first-quarter revPAR growth of 3.1%, ahead of management’s 1%-3% guidance and our full-year forecast calling for a 1.5% lift. We see these results as supportive of our long-held view that the company is one of the best positioned for long-term growth in the lodging industry, which is reflected in our roughly 6% average annual unit growth over the next five years, well above average historical industry supply rates of 2%. We plan to increase our $84 Marriott fair value es...
Underlying
Marriott International Inc. Class A

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.

Provider
Morningstar
Morningstar

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.

We have operations in 27 countries.

Analysts
Dan Wasiolek

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