|Bid||120.41 x 900|
|Ask||120.53 x 1100|
|Day's Range||118.96 - 120.82|
|52 Week Range||100.62 - 144.24|
|Beta (3Y Monthly)||1.26|
|PE Ratio (TTM)||28.98|
|Earnings Date||Nov 4, 2019|
|Forward Dividend & Yield||1.78 (1.47%)|
|1y Target Est||138.61|
Bethesda-based Marriott International Inc. (NASDAQ: MAR) announced Friday it has an agreement to buy Elegant Hotels Group, which owns and operates seven hotels and a beachfront restaurant on the island of Barbados. Six of the seven are located on the west coast of Barbados and the majority are operated as all-inclusive resorts, a type of destination that Marriott has increasingly tried to expand into. "The addition of the Elegant portfolio will help us further jumpstart our expansion in the all-inclusive space, while providing more choices on the breathtaking island of Barbados for our 133 million Marriott Bonvoy members," Arne Sorenson, Marriott president and CEO, said in a release.
Plans call for AC Hotel Charlotte SouthPark to welcome its first guests in SouthPark before year's end. JWM — a private hotel venture of Marriott International Inc. (NASDAQ: MAR) — also owns the adjacent Charlotte Marriott SouthPark and nearby Renaissance Charlotte SouthPark. The AC SouthPark will be located at 1825 Roxborough Road, in close proximity to SouthPark mall.
Marriott International has agreed a deal to buy Elegant Hotels for $130.1 million in a move that will see the company expand its all-inclusive offering in the Caribbean. Elegant Hotels owns and operates seven hotels with 588 rooms and a beachfront restaurant on the island of Barbados. "There is a strong and growing consumer demand […]
(Bloomberg) -- Marriott International Inc. agreed to take over Elegant Hotels Group Plc in a transaction that will deepen the lodging giant’s reach into the Caribbean.Marriott International will pay 110 pence a share in cash for Elegant Hotels, a 57% premium to its Thursday close, according to a statement Friday that confirmed an earlier Bloomberg News report. That values the company at about 101 million pounds ($130 million), or $199 million including debt, the company said in the statement.Elegant Hotels shares gained as much as 56% in London trading Friday morning, the most on record. The deal is subject to shareholder approval.“There is a strong and growing consumer demand for premium and luxury properties in the all-inclusive category” into which Marriott has started expanding, the U.S. hotelier’s chief executive officer, Arne Sorenson, said in the statement.Elegant Hotels, which went public in 2015, operates properties in Barbados and St. Lucia, according to its website.Marriott International has more than 7,000 properties in 131 countries under brands including the Ritz-Carlton, W Hotels and Courtyard, according to its website.In 2016, Marriott International acquired rival Starwood Hotels & Resorts Worldwide.\--With assistance from Patrick Clark, Aaron Kirchfeld and Jack Sidders.To contact the reporters on this story: Liana Baker in New York at firstname.lastname@example.org;David Hellier in London at email@example.comTo contact the editors responsible for this story: Daniel Hauck at firstname.lastname@example.org, Shelley Robinson, Ben ScentFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Elegant owns and operates seven hotels with 588 rooms and a beachfront restaurant on the island of Barbados. Six of the seven properties are situated along the prestigious west coast of Barbados commonly known as the "Platinum Coast." The majority of Elegant properties are operated as all-inclusive resorts. "There is a strong and growing consumer demand for premium and luxury properties in the all-inclusive category," said Arne Sorenson, President and Chief Executive Officer, Marriott International.
BETHESDA, Md., Oct. 17, 2019 /PRNewswire/ -- Marriott International, Inc. (MAR) will report third quarter 2019 earnings results on Monday, November 4, 2019, at approximately 5:00 p.m. Eastern Time (ET). The company will hold a conference call for the investment community to discuss its third quarter 2019 earnings on Tuesday, November 5, 2019 at 11:00 a.m. 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.
BETHESDA, Md., Oct. 17, 2019 /PRNewswire/ -- Marriott International, Inc. (MAR) today announced that it has purchased the 270-room W New York – Union Square in the heart of Manhattan's dynamic Union Square neighborhood. Marriott International will transform the existing hotel into a cutting-edge W Hotels showcase, advancing the company's strategy to redefine and reinvigorate the brand in North America.
Marriott International, Inc. (MAR) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front.
BETHESDA, Md., Oct. 15, 2019 /PRNewswire/ -- Whether traveling for business or for fun, Marriott Bonvoy™ members can end the year strong with more points and more travel possibilities. Today, Marriott Bonvoy launches its final global promotion of 2019, "Unlock More." By registering for the promotion, members will be rewarded with 2,000 bonus points after two stays at any of the 7,000 participating Marriott Bonvoy properties located in 132 countries and territories. Once a member completes two qualifying stays during the promotion earning period, they will unlock a personalized offer to earn even more bonus points on stays.
The developers of The Heights District in downtown Tampa are planning a new 25-story mixed-use tower — and it will include Tampa Bay's first Moxy Hotel. The Heights District said Tuesday that it has signed an agreement with Marriott International Inc. to bring its tech-forward Moxy flag to 153 hotel rooms on the first seven floors of the new tower. The new tower will be between West Oak Avenue and West 7th Avenue and North Highlands and North Tampa Street, on the block south of where Heights Union, an office development anchored by coworking giant WeWork, is under construction.
Despite early hype, Marriott International doesn't intend to take on Airbnb and other homesharing companies with its recently announced homesharing business. The company on Monday reemphasized that it has limited goals for Homes & Villas by Marriott International, a small set of professionally managed luxury properties. It mainly intends to use the rental bookings as […]
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Moody's rating action reflects a base expected loss of 3.6% of the current balance, compared to 3.9% at Moody's last review. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.
We can judge whether Marriott International Inc (NASDAQ:MAR) is a good investment right now by following the lead of some of the best investors in the world and piggybacking their ideas. There's no better way to get these firms' immense resources and analytical capabilities working for us than to follow their lead into their best […]
Ron McAnaugh has been a daily witness to the massive renovation underway at Tampa Marriott Water Street for the last 18 months — but even the general manager himself was blown away by the big reveal of Anchor and Brine, the hotel's new seafood and cocktail bar. "I've seen quite a few renovations over my career and normally I go, 'Oh yeah, this is what it was supposed to be,'" McAnaugh said. "We walked out to Anchor and Brine two days before it opened and looking at it from the Riverwalk, I thought, 'Wow, this is really cool.'" The $50 million renovation has left almost no portion of the 719-room convention hotel untouched since it kicked off nearly two years ago — everything from guest rooms to heating and cooling systems have been overhauled.
An architecture firm that's behind a handful of high-profile projects in Denver was hired for the hotel project across from the Colorado Convention Center.
NEW YORK, Oct. 8, 2019 /PRNewswire/ -- She knows what you'll be hearing...W Hotels Worldwide today announced its newest member of its Global Music Collective with the appointment of Leah Chisholm (AKA LP Giobbi) as Music Director, North America. First introduced in 2015, the Global Music Collective is comprised of four music industry experts representing North America, Europe/Africa/Middle East, Asia Pacific, and Latin America. In her role, Chisholm will guide the sound behind each W hotel in North America in coordination with on-site Music Curators who will work together to carefully craft in-hotel playlists, live performances from rising local talent and W Sound Suite (W recording studios) sessions.
She Won’t Go Like a Lam To the Slaughter Hong Kong’s Beijing-appointed chief executive Carrie Lam has invoked emergency powers that allow her to, among other things, insist that protesters stop wearing masks, so as to be able to identify them later in order to arrest them. The protesters who are wearing the masks aren’t […]The post Market Morning: Lam Cracks Down, Alibaba FlyZoo Hotel, Seltzer Spiked, HP Cuts appeared first on Market Exclusive.
A 73-year-old former Gibson Guitar building, which still bears a three-story metallic guitar hanging off one corner, could be torn down to make way for the proposed development.
New bipartisan legislation in the U.S. Congress would change the way hotels and online travel agencies display what one supporter called "the most-hated fee in travel," hotel resort fees. Democratic Congresswoman Eddie Bernice Johnson of Texas and her Republican peer Jeff Fortenberry of Nebraska have introduced the Hotel Advertising Transparency Act of 2019, a measure […]
A pair of hotel properties totaling more than 600 rooms is in the works near International Drive and across from Universal Orlando Resort's future Epic Universe project. The two properties, proposed by an entity related to Greenville, South-Carolina-based Auro Hotels, filed plans with Orange County dubbed "Pointe North" for the construction of two buildings of 105,788 square feet on the development's Lot 2 and another 112,373 square feet on Lot 4 on about 7 acres of undeveloped land just west of the intersection of Universal Boulevard and Pointe Plaza Avenue. Plans submitted to the county show the development will include two hotels: A 450-room Marriott tri-brand property (Lot 2 site) and a 152-room Home2 Suites By Hilton (Lot 4 site). The Home2 Suites brand is one of Hilton's extended-stay properties that cater to business and leisure travelers.