Marriott's leading brand advantage is intact as labor constraints slow room openings in 2018.
Marriott International reported solid third-quarter results in line with our forecast, led by 8.7% and 7.9% growth in revenue per available room in Europe and Asia-Pacific, respectively. We plan to increase our $99 fair value estimate by a low-single-digit percentage as the time value of money and higher 2018 revPAR (due to economic resiliency) is mitigated by lower 2018 net room openings (tightening labor market). We see the shares as overvalued.Marriott’s brand advantage--the source of its na...
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.
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