Marriott Corporation

Marriott Corporation - case exhibit 6 for summary...

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February 16, 18: Duties to Bondholders Case: Marriott Corporation (A) - Fraudulent conveyance - Duty to bondholders Study Questions : 1. Why is Marriott management proposing Project Chariot? What is it trying to accomplish? 2. What is the likely impact of Project Chariot on the wealth positions of the shareholders? 3. Should management be concerned by the loss in the market value of the bonds if Project Chariot is implemented? 4. Is Project Chariot a matter of survival for Marriott as of the fall of 1992? The workbook allows you to estimate whether Marriott will be able to service its debt, given your assumptions about future profitability, revenue growth, and property sales. Please see
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Unformatted text preview: case exhibit 6 for summary statistics on Marriott’s past performance. 5. Would you recommend the implementation of Project Chariot? Answer: Does Marriott have to do this in order to survive? What else can they do to increase shareholder value?-What does the macro tell you about the impact of those on the bottom line and company’s valuation? What has the least effect on the valuation of the company (dividends, sales increases, expenses, and sales of assets)-Expenses most influential -Dividends least influential...
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