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Learn about Marriott International, the world's largest hotel chain with a strong presence in the US, Canada, UK, and China. Discover their international expansion plans, key competitors, revenue sources, and operational details. Find out about the company's financial statements, balance sheet items, and other useful information.
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By: Allie Leon Mod 10: Incorporating Other Information
The Lodging Industry • Marked by intense competition • Over 850 lodging management companies in the US alone • Experienced significant decreases in room reservations during the recession • Large trend toward international expansion (especially into Africa) • Key competitors: Intercontinental Hotel Group, the Starwood Hotels, Hyatt, and Hilton Hotels & Resort
Marriott International, Inc. • The largest hotel chain in the world • Controls about 10 % of US hotel market and 1% worldwide • Main operations are in the US, although strong presence in Canada, the UK, and China • Made up of 19 brands • Ritz Carlton, JW Marriott, Fairfield Marriott, Courtyard Marriott, etc. • 3900 lodging properties in 72 countries • Plans to open 100 new properties, adding 18 countries, by the end of 2014 • Most revenue from franchise arrangements • Primary customers are business travelers
Other Useful Information • Better breakdown of long-term debt • More detail relating to general, administrative, and other costs • Details on pension obligations
Sources • Marriott International, Inc. 2013 10K