Marriot International (MAR)

• Market cap: $79.3B
• 1 day: -0.34%
• 5 days: 1.50%
• 1 month: -0.95%
• 3 months: 13.85%
• 6 months: 18.19%
• Year to date: 28.66%
• 1 year: 27.74%
• 5 years: 86.40%
• 10 years: 262.68%
• Sector: Consumer Discretionary
• Industry: Hotels & Motels

About: Marriott operates 1.7 million rooms across roughly 30 brands. At the end of 2023, luxury represented roughly 10% of total rooms, premium 42%, select service was 46%, midscale 1%, and other 1%. Marriott, Courtyard, and Sheraton are the largest brands, while Autograph, Tribute, Moxy, Aloft, and Element are newer lifestyle brands. Managed and franchised represented 97% of total rooms as of Dec. 31, 2023. North America makes up 63% of total rooms. Managed, franchise, and incentive fees represent the vast majority of revenue and profitability for the company.

Employees: 411,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

20% more call options, than puts

Call options by funds: $635M | Put options by funds: $528M

14% more first-time investments, than exits

New positions opened: 125 | Existing positions closed: 110

1% more funds holding

Funds holding: 1,364 [Q2] → 1,379 (+15) [Q3]

4% less capital invested

Capital invested by funds: $41.3B [Q2] → $39.5B (-$1.76B) [Q3]

3.17% less ownership

Funds ownership: 59.78% [Q2] → 56.61% (-3.17%) [Q3]

8% less funds holding in top 10

Funds holding in top 10: 13 [Q2] → 12 (-1) [Q3]

20% less repeat investments, than reductions

Existing positions increased: 429 | Existing positions reduced: 538

Research analyst outlook

14 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $245 14% downside
• Avg. target: $275 4% downside
• High target: $314 10% upside

14 analyst ratings

• positive: 4 29%
• neutral: 10 71%
• negative: 0 0%

Barclays Brandt Montour 48% 1-year accuracy 41 / 85 met price target	0% upside $286	Equal-Weight Maintained	13 Dec 2024
JP Morgan Joseph Greff 34% 1-year accuracy 10 / 29 met price target	6% downside $269	Neutral Maintained	13 Dec 2024
Goldman Sachs Lizzie Dove 65% 1-year accuracy 17 / 26 met price target	10% upside $314	Buy Maintained	10 Dec 2024
Truist Securities Patrick Scholes 57% 1-year accuracy 44 / 77 met price target	3% downside $277	Hold Maintained	4 Dec 2024
Stifel Simon Yarmak 41% 1-year accuracy 14 / 34 met price target	1% downside $283	Hold Maintained	26 Nov 2024