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4-Traders Homepage  >  Equities  >  Nasdaq  >  Marriott International Inc    MAR

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Marriott International : Int l reveals major MEA expansion at ATM

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04/25/2017 | 06:10pm CEST

Recent additions to the group will bolster Marriott International's existing collection of 247 hotels and 54,000 rooms in 30 countries across the region.

The acquisition of Starwood Hotels & Resorts in 2016 has now resulted in each brand being classified into luxury, premium or select categories, with the luxury brands forming a standalone group.

The new luxury brands group currently features six brands across the region, including JW Marriott, The Ritz-Carlton, The Ritz-Carlton Reserve, St. Regis, W Hotels, and The Luxury Collection. Fifteen new luxury brand properties with 3,500 rooms are set to open across the region between now and the end of 2018.

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Marriott's scheduled 2017 openings include the 200-room Bulgari Resort and Residences Dubai, 257-room Edition Abu Dhabi, 280-room W Amman Hotel in Jordan, and The St. Regis Cairo, all set to open by the fourth quarter of this year. Globally, The Ritz-Carlton, St. Regis and JW Marriott brands are classified as 'classic luxury', while the other five brands fall under 'distinctive luxury'.

Marriott International, Middle East & Africa president and managing director Alex Kyriakidis said: "The guests we see visiting our hotels today are looking for authenticity and personalisation within their experiences. The unmatched breadth and depth of Marriott International's brand portfolio uniquely positions us to cater to the increased demand of the rapidly-expanding cadre of affluent travellers."

With 29 properties set to open in 2017 comprising a total of 6815 rooms, the new launches will see the hotel operator expand its Middle East footprint across the UAE, Egypt, Saudi Arabia and Jordan, including the Bulgari, Renaissance, The Ritz-Carlton, Marriott Hotels, Aloft and Four Points by Sheraton brands.

(c) 2017 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2017 21 515 M
EBIT 2017 2 456 M
Net income 2017 1 530 M
Debt 2017 7 845 M
Yield 2017 1,31%
P/E ratio 2017 23,38
P/E ratio 2018 20,04
EV / Sales 2017 2,03x
EV / Sales 2018 1,96x
Capitalization 35 764 M
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Marriott International Inc Technical Analysis Chart | MAR | US5719032022 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 96,2 $
Spread / Average Target 2,9%
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NameTitle
Arne M. Sorenson President, CEO, COO & Director
John Willard Marriott Executive Chairman
Tim Sheldon Global Chief Operations Officer
Kathleen Kelly Oberg Chief Financial Officer & Executive Vice President
Bruce Hoffmeister Global Chief Information Officer
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