Blog Coverage Marriott Announced as the Official Hotel Partner for NCAA; Set to Deliver Services across Multiple Locations
Upcoming AWS Coverage on Wyndham Worldwide Post-Earnings Results
LONDON, UK / ACCESSWIRE / March 3, 2017 / Active Wall St. blog coverage looks at the headline from Marriott International, Inc. (NASDAQ: MAR) as the Company announced on March 02, 2017, that it has become the official NCAA Corporate Partner across all 90 NCAA (National Collegiate Athletic Association) championships. Marriott has been declared as the 'Official Hotel Partner for NCAA', where the Company and its 30 distinct hospitality brands will welcome students, alumni, fans, and families across the nation. Register with us now for your free membership and blog access at:
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One of Marriott International's competitors within the Lodging space, Wyndham Worldwide Corp. (NYSE: WYN), reported on February 15, 2017, its results for the three months and year ended December 31, 2016. AWS will be initiating a research report on Wyndham Worldwide in the coming days.
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The Partnership
Subject to terms of the agreement, Marriott International, in a partnership with the NCAA, Turner Sports, and CBS Sports, will have the opportunity to develop and support college student-athletes across multiple locations. With two events ahead in the pipeline this April, namely, the Men's Final Four in Phoenix and the Women's Final Four in Dallas, Marriott International aims to invite guests for celebrating every play. Marriott has been granted International marketing, media, and activation rights where the agreement will span beyond NCAA March Madness to include NCAA Men's and Women's Final Four and all other championships of the association.
NCAA Prospects
NCAA is probably one of the most diverse associations in the Country with more than 1,100 member colleges and universities to create and offer greater opportunities for approximately 500,000 student-athletes every year. NCAA views this agreement as an extension of its growth opportunities, and through the Company's numerous hotel brands, it expects a high level of hospitality and service during NCAA championships and events. Dan Gavitt, NCAA Senior Vice President for basketball, views this agreement as a complementary venture to NCAA in terms of delivering 'world-class and memorable experience'.
Marriott's Offerings
Marriott International expects to bank on the multi-million populations actively participating in the events across the country. College sports are known to bring people from different walks of life together, and owing to this collaboration, Marriott is set to address the grievances and offer memorable experiences for students, alumni, fans, and families. Marriott, being the world's largest hotel chain, will deliver an unparalleled level of activation at many NCAA championships and hence, eventually enhancing college sports fans' and participating student-athletes' experiences while connecting them to multiple lifetime events.
Marriott Growth Prospects
On September 23, 2016, Marriott International announced that it had completed the acquisition of Starwood Hotels and Resorts Worldwide, Inc., hence creating the world's largest and best hotel Company. At the closing of the transaction, Starwood's stockholders were entitled to receive 0.8 shares of Marriott's common stock plus $21.00 in cash for each share of Starwood's common stock.
FY16 has been one of the strongest years for the Company in terms of rooms growth in its history. Marriott opened a record 55,000 new rooms while an additional 381,000 rooms were added to its portfolio post the Starwood acquisition. Subsequently, the combined Company signed 880 new hotel deals, representing nearly 136,000 rooms under long-term management and franchise agreements.
Marriott Q4 FY16 results
Marriott International reported its Q4 FY16 results on February 15, 2017, where, it announced diluted EPS at $0.62, representing a 19% decline compared to Q4 FY15. The Q4 FY16 adjusted diluted EPS was $0.85, a 20% growth over Q4 FY15 results. During the twelve months' period ending December 31, 2016, Marriott and Starwood, under a collaboration, added more than 68,000 rooms, while including 11,000 rooms converted from competitor brands, while another 31,000 rooms were added from international markets. At the end of FY16, Marriott expanded its worldwide development pipeline to about 420,000 rooms, with another 34,000 rooms approved but not yet subject to signed contracts.
Stock Performance
On Thursday, March 02, 2017, the stock closed the trading session at $87.52, declining 1.10% from its previous closing price of $88.49. A total volume of 2.97 million shares have exchanged hands, which was higher than the 3-month average volume of 2.56 million shares. Marriott International's stock price rallied 11.01% in the last three months, 22.41% in the past six months, and 29.22% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 6.22%. The stock is trading at a PE ratio of 32.61 and has a dividend yield of 1.37%.
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