|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's Range||133.39 - 139.63|
|52 Week Range||108.74 - 153.39|
|Beta (5Y Monthly)||1.30|
|PE Ratio (TTM)||35.71|
|Earnings Date||Feb 25, 2020|
|Forward Dividend & Yield||1.92 (1.36%)|
|Ex-Dividend Date||Nov 19, 2019|
|1y Target Est||146.50|
Marriott International, Inc. (NASDAQ: MAR) will report fourth quarter 2019 earnings results on Wednesday, February 26, 2020, at approximately 5:00 pm Eastern Time (ET). The company will hold a conference call for the investment community to discuss its fourth quarter 2019 earnings on Thursday, February 27, 2020 at 10:00 am ET. Mr. Arne Sorenson, Marriott International's president and chief executive officer, and Ms. Leeny Oberg, Marriott International's executive vice president and chief financial officer, will discuss the company's performance.
Marriott International, Inc. (NASDAQ: MAR) today announced it signed a record number of rooms in 2019, pushing its global pipeline to approximately 515,000 rooms as of year-end 2019 for the first time in the company's history. The company signed 815 agreements, representing more than 136,000 rooms, marking the seventh consecutive year of record-breaking volume of organic rooms signings. Growth was fueled by unprecedented levels of organic rooms signed in each of the company's international regions. During 2019, the company added 516 properties with more than 78,000 rooms in 60 countries and territories – an average of one new property every 17 hours.
(Bloomberg Opinion) -- There’s never a good time for the outbreak of a deadly virus, but this one is particularly bad. China’s Lunar New Year is often dubbed the world’s largest migration, a stretch of weeks when hundreds of millions of people visit their families. Before the pandemic started spreading, officials were expecting 3 billion airplane and train trips during the holiday rush between Jan. 10 and Feb. 18. Millions more have gone abroad.Little wonder, then, that the travel industry is suffering. With the death toll up to 25 and more than 800 infected, tourists are staying home. Some have no choice: The government has put seven cities on lockdown and airports are stepping up screening measures. On Friday, China ordered all travel agencies to suspend sales of domestic and international tours.Shares of China Southern Airlines Co. – the carrier most exposed to the site of the outbreak – have slid 14% since the second death from the virus was confirmed, while Cathay Pacific Airways Ltd., which said it would waive fees for tickets to and from the mainland, has slumped 7.6%. The country’s largest online travel agency, Trip.com Group Ltd. has tumbled 12%.If the SARS outbreak of 2003 is any guide, things could get even worse. In May of that year, Chinese air passenger traffic fell 71%, according to Goldman Sachs Group Inc. Bernstein Research cited concerns of a repeat outcome when it cut Trip.com’s rating one notch to “market perform” earlier this week. The Nasdaq-listed company, which changed its name from Ctrip.com last year, issued a statement Thursday saying it would refund travelers who’ve been diagnosed, or those in close touch with them.The hope is that, like SARS, the turbulence will eventually pass. For Trip.com, however, the business challenges are bigger than the coronavirus. In recent years, the company has struggled to keep up with competition from digital rivals like Meituan Dianping and Alibaba Group Holding Ltd.Few travel companies have benefited more from China’s transition to the world’s biggest source of tourists in 2012. Despite the trade war and Hong Kong’s protests,(3) China’s outbound tourism numbers have continued to rise. According to Euromonitor International, 108.39 million overseas trips were taken last year, a 9.5% gain, after surging 11.7% in 2018. Trip.com now makes up a quarter of its total sales from outbound Chinese visitors, from under 15% five years ago, reckons Bloomberg Intelligence analyst Vey-Sern Ling.But the hotel-booking sector is getting crowded. Meituan Dianping has recently overtaken Trip.com as China’s top site, just five years after the food-delivery giant started dabbling in the business. Meituan now has 47% of China's market, ahead of Trip.com, with 34%, according to TrustData. Now, Meituan is moving further into Trip.com’s territory with luxury hotels, while chains like Marriott International Inc. are pushing for direct booking on their China websites. Alibaba said part of the $13 billion it raised from its Hong Kong listing in November would go toward fliggy.com, its online travel group site.If there’s any lesson to be gleaned from all this, it’s the benefit of diversification. While China’s superapp business model has arched some eyebrows (how can one company possibly provide digital payments, taxis, food delivery, massages and pet grooming?) there’s a decent case to be made for having some crisis-proof subsidiaries. Consider AirAsia Group Bhd, Southeast Asia's most successful budget airline, which is setting up a regional fast food franchise.Plans could already be underway for Trip.com to diversify its investor base, with the company discussing plans to go public in Hong Kong, Bloomberg News reported earlier this month. Here, Alibaba is a successful model. With its second listing, the company is now closer to its Chinese end-users, and Alibaba’s New York-listed stock has soared 14%.The four-month span of the SARS outbreak shows how quickly things can turn around: While China’s growth dipped in the second quarter of 2003, it swiftly resumed in the following months. Given how much more important the Chinese shopper is to the economy now, the damage could be more painful. A 10% fall in discretionary transportation and entertainment could shave 1.2 percentage points from China’s growth domestic product, according to “back of the envelope” estimates by S&P Global Inc. Hong Kong retailers and restaurants, just coming off the pain of last year's protests, were already suffering. For those companies that enjoyed the fast-rising Chinese consumer, it may be time to devise a plan B. (Updates to include China’s measures to suspend travel-agency sales.)(1) Hong Kong, followed by Macau, are the top two destinations of mainland Chinese travelers.To contact the author of this story: Nisha Gopalan at firstname.lastname@example.orgTo contact the editor responsible for this story: Rachel Rosenthal at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Nisha Gopalan is a Bloomberg Opinion columnist covering deals and banking. She previously worked for the Wall Street Journal and Dow Jones as an editor and a reporter.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
M.A.’s story is not unique, but that doesn’t make it any less horrifying. After leaving home to live with a friend in 2014, she faced being kicked out of her temporary residence. It was around this time, a complaint in a civil suit alleges, she met a person who began posting graphic images of her […]
These sectors are directly related to the outbreak of Coronavirus in China in a positive or negative way,putting the spotlight on these ETFs and stocks.
Hilton (HLT) continues to drive unit growth. Bu expanding presence, Hilton strives to meet growing demand for hotels and drive the top line.
Marriott International has failed to halt a lawsuit against it in a Thai court filed by Minor International. The parent company of Minor Hotels Group advised investors of the outcome on Thursday. Minor, however, is still unable to proceed with the legal case in Thailand, pending another outcome later this month of a temporary injunction […]
Hyatt (H) announces the opening of Hyatt Place Waco-South in Waco, TX. The company's efforts to expand presence worldwide are noteworthy.
Houston First Corp.'s board has approved a plan that aims to bring a long-awaited W Hotel to downtown Houston. The Houston Chronicle reports that the board voted 10-3 in favor of the deal with Texas Hospitality Partners at its Jan. 16 meeting. Next, the deal goes to Houston City Council for approval.
Courtyard by Marriott, the Official Hotel of the NFL, announced today the winner of its Super Bowl Sleepover Contest – Denise Ammon. Courtyard by Marriott will host Ammon and a select group of her friends for an experience of a lifetime, including waking up in a Courtyard transformed suite inside the stadium on Super Bowl Sunday. All season long, Courtyard by Marriott and the global travel program Marriott Bonvoy have offered fans unprecedented access to NFL experiences that have created lasting memories, in celebration of the NFL's 100th Season. From the Courtyard Super Bowl Sleepover Contest to hundreds of NFL-related Moments made available exclusively to Marriott Bonvoy members, fans have been delighted all season long with NFL experiences that bring travelers closer to the game they love.
Hotel companies hardly ever shy away from creating new brands, even when they may sound and look like ones they already have. Hilton is the latest hospitality giant to debut another brand. The McLean, Virginia-based company on Thursday introduced Tempo by Hilton with a celebration in New York City. It is the sixth brand Hilton […]
A Triad-based hotel developer and operator has purchased an office building with plans to move its headquarters there. CN Hotels of Greensboro paid $1.38 million last month for a 24,000-square-foot office building on 8.8 acres at 711 Gallimore Dairy Road, south of Interstate 40 in High Point. The seller was First Community Bancshares of Bluefield, Virginia.
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Grindr is sharing detailed personal data with thousands of advertising partners, allowing them to receive information about users’ location, age, gender and sexual orientation, a Norwegian consumer group said.The service -- described as the world’s largest social networking app for gay, bi, trans, and queer people -- gave user data to third parties involved in advertising and profiling, according to a report by the Norwegian Consumer Council that was released Tuesday. Twitter Inc. ad subsidiary MoPub was used as a mediator for the data sharing and passed personal data to third parties, the report said.“Every time you open an app like Grindr, advertisement networks get your GPS location, device identifiers and even the fact that you use a gay dating app,” said Austrian privacy activist Max Schrems. “This is an insane violation of users’ EU privacy rights.”The consumer group and Schrems’s privacy organization have filed three complaints against Grindr and five adtech companies to the Norwegian Data Protection Authority for breaching European data protection regulations. Schrems’s group Noyb will file similar complaints with the Austrian DPA in the coming weeks, according to the statement.Match Group Inc.’s popular dating apps OkCupid and Tinder LLC share data with each other and other brands owned by the company, the research found. OkCupid gave information pertaining to customers’ sexuality, drug use and political views, to the analytics company Braze Inc., the organization said.In a statement, Grindr said “while we reject a number of the report’s assumptions and conclusions, we welcome the opportunity to be a small part in a larger conversation about how we can collectively evolve the practices of mobile publishers and continue to provide users with access to an option of a free platform.”A spokeswoman for Match Group said OkCupid uses Braze to manage communications to its users, but that it only shared “the specific information deemed necessary” and “in line with the applicable laws including GDPR and CCPA.” Braze also said it didn’t sell personal data, nor share it between customers. Twitter is investigating the issue to “understand the sufficiency of Grindr’s consent mechanism” and has disabled the company’s MoPub account, a representative said.European consumer group BEUC urged national regulators to “immediately” investigate online advertising companies over possible violations of the bloc’s data protection rules, following the Norwegian report. It’s also written to European Commission executive vice-president Margrethe Vestager to take action.“The report provides compelling evidence about how these so-called ad-tech companies collect vast amounts of personal data from people using mobile devices, which advertising companies and marketeers then use to target consumers,” BEUC said in an emailed statement. This happens “without a valid legal base and without consumers knowing it.”The European Union’s data protection law, GDPR, came into force in 2018 setting rules for what websites can do with user data. It mandates that companies must get unambiguous consent to collect information from visitors. The most serious violations can lead to fines of as much as 4% of a company’s global annual sales.Where Tech Giants Are Getting Slapped Over Privacy: QuickTakeIt’s part of a broader push across Europe to crack down on companies that fail to protect customer data. In January last year, Alphabet Inc.’s Google received a fine of 50 million euros ($56 million) from France’s privacy regulator following a complaint by Schrems over the company’s privacy policies. Prior to GDPR, the French watchdog levied maximum fines of 150,000 euros.The U.K. threatened Marriott International Inc. with a 99 million-pound ($128 million) fine in July following a hack of its reservation database, just days after the U.K.’s Information Commissioner’s Office proposed handing a 183.4 million-pound penalty to British Airways in the wake of a data breach.Schrems has for years taken on large tech companies’ use of personal information, including filing lawsuits challenging the legal mechanisms Facebook Inc. and thousands of other companies use to move that data across borders.He’s become even more active since GDPR kicked in, filing privacy complaints against companies including Amazon.com Inc. and Netflix Inc., accusing them of breaching the bloc’s strict data protection rules. The complaints are also a test for national data protection authorities, who are obliged to examine them.In addition to the European complaints, a coalition of nine U.S. consumer groups urged the U.S. Federal Trade Commission and the attorneys general of California, Texas and Oregon to open investigations.“All of these apps are available to users in the U.S. and many of the companies involved are headquartered in the U.S.,” groups including the Center for Digital Democracy and the Electronic Privacy Information Center said in a letter to the FTC. They asked the agency to look into whether the apps have upheld their privacy commitments.(Updates with FTC complaint from U.S. consumer groups in last two paragraphs)\--With assistance from Stephanie Bodoni and Ben Brody.To contact the reporters on this story: Sarah Syed in London at firstname.lastname@example.org;Natalia Drozdiak in Brussels at email@example.com;Nate Lanxon in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Amy ThomsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
College Park's hotel scene grew exponentially during the tail end of the last decade and it appears poised to continue that growth into the next. The latest? A new Marriott Residence Inn, Republic Properties Corp.
Greensboro City Manager David Parrish said the city will pay for the excavation of the debris and hopes construction of the deck will begin in the spring.
Owners of hotels in the Charlotte area have invested more than $100 million on renovations — with more projects in the works.
Construction is underway on a 21-story, 381-room J.W. Marriott hotel — the first of its kind in Charlotte — at the corner of Stonewall and College streets. “Occupancies are at high levels so I think we have some room to grow.” The CRVA’s $127 million expansion of the Charlotte Convention Center, combined with a growing hotel inventory, will be a catalyst for landing large-scale events and conferences. “Other cities want these successes as well, and we have to continue to invest in our infrastructure.” There’s also demand driven by corporate commitments to the market, such as Honeywell International Inc. (NYSE: HON) and Truist Financial Corp. (NYSE: TFC).
The 192-room boutique hotel has been in the works since the dinner theatre was forced to vacate its waterfront space nearly a decade ago.
The Trump Organization has set a Jan. 23 deadline for potential bidders on its downtown D.C. hotel, and there are some big names in the running, according to The Wall Street Journal. The family of President Donald Trump brought on JLL (NYSE: JLL) in October to market the Trump International Hotel, which it operates under a long-term federal lease on the Old Post Office on Pennsylvania Avenue NW. Eric Trump, the executive vice president of the Trump Organization, told The Wall Street Journal in a prepared statement the property has “received tremendous interest” from “the biggest names in hospitality.” JLL declined to tell The Wall Street Journal what entities have expressed interest, but the report cites anonymous sources familiar with the process who say that a mix of domestic and foreign private equity firms, family buyers and hotel operators are potentially in the running — including Bethesda's Marriott International Inc. (NASDAQ: MAR) and Tysons' Hilton Worldwide Holdings Inc. (NYSE: HLT).
Investing in hedge funds can bring large profits, but it’s not for everybody, since hedge funds are available only for high-net-worth individuals. They generate significant returns for investors to justify their large fees and they allocate a lot of time and employ complex research processes to determine the best stocks to invest in. A particularly […]
Remember those massive headline-grabbing fines that the UK’s data protection regulator handed out to Marriott and British Airways last year? The two proposed penalties — Marriott at $130.4 million (£99.2 million) and British Airways at $241.1 million (£183.4 million) — came within a day of each other last July, but not much has been heard […]
Kaplan told Triad Business Journal on Monday that portions of the basement -- including small tunnels used for utilities -- of the former S&W Cafeteria on Market Street were found buried on the site of the future parking deck, and must be excavated and removed. The former cafeteria, just east of the intersection of Market and Elm streets, was behind the former Belk department store, now the 101 S. Elm office building. "We're moving forward," Kaplan told TBJ without providing a timetable at a news conference announcing Kontoor Brands and Brady Trane Services as sponsors of hospitality areas at Steven Tanger Center for the Performing Arts.
Marriott CEO Arne Sorenson discusses his outlook for 2020, the growth of the consumer, and the competition from Airbnb. He joins Yahoo Finance's Alexis Christoforous and Andy Serwer from the World Economic Forum in Davos, Switzerland.
Hilton has announced a wellness-focused brand of hotels called "Tempo". Yahoo Finance's Brian Cheung, Anjalee Khemlani and Emily McCormick join Seana Smith on The Ticker to discuss.