Limited ability to retain earnings owing to REIT rules Threats 9 SWOT analysis

Limited ability to retain earnings owing to reit

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Limited ability to retain earnings owing to REIT rulesThreats9. SWOT analysisSources: Global market informationdatabase by Euromonitor, broker researchMarriott – Company profileFY 2010
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1710. Company historyJoint venture with WhitbreadPLC to acquire Whitbread’s portfolio of 46 franchised Marriott and Renaissance hotels; JV sold to RBS in 2006Purchase of 32 hotels and JV interests from CTF Holdings2005Ramada is sold to Cendant2004Ownership interest in the Ritz-Carlton Company LLC rises to 98 %1998Partnership with Nickelodeonto co-develop a new lodging resort brand for travelers seeking funPartnership with designer Ian Schragerto create a lifestyle boutique hotel brand called Edition 2007J.W. Marriott starts a food service management business named the Hot Shoppe Inc1927Global corporate restructuring:rfocus on mega-markets in lodging and contract servicesDevelopment of facilities management1989Acquisition of the Renaissance Hotel group(Renaissance, Ramada international, New World)1997Acquisition of a 49% interest in the Ritz-Carlton Hotel Company19951984Development of Timeshare1957Development of Hospitality1939Development of Food Service Management1937Development of Air Catering1988Development of Senior rental and living servicesSource: Marriott’s FactbookLaunch of the Autograph Collection, an upper-upscale full-service brand of independent hotels20091953Public Offering1987Acquisition of The Residence Inn Company,all-suite hotel chain targeting extended stay travelersSplit of operations between 2 companies: Marriott International& Host Marriot Corp.1993Acquisition of ExecuStay and launch of corporate housing business1999Exit of Marriott Marriott Distribution Services2002Marriott – Company profileFY 2010
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18Marriott International Inc.which is formed to manage and operate various brands of Marriott hotels10. Company historyFrom Marriott Corporation to Marriott International Inc. and Host H&RIn 1993, Marriott Corporation split it activities into two separate, distinct and totally independent companies :Host has continued to acquire full service hotelswhile it moves away from the limited-service and F&B operations1995: Host, spun off the Host Marriott Operating Group as a separate company called Host Marriott Services1998: Host launches a brand diversification strategy by acquiring luxury and upper upscale hotels that include brand names such as Four Seasons, Ritz-Carlton and Hyatt 1999: Host becomes a REIT, and is required to lease its properties to unaffiliated third parties. It does so to Crestline Capital Corporation, (Host spin off, Dec 1998)2005: Host announced the acquisition of a portfolio of hotels from Starwood. On April 19, 2006, it changes its name to Host Hotels & Resorts, to reflect its enhanced brand diversity 2009:Today Host H&R Inc owns or leases a portfolio of 146 Marriott Hotels under long term agreements. Host also owns hotels from other luxury or upper-upscale brands worldwideSource: Marriott WebsiteHost Marriott Corporationwhich retains ownership of 24 full service hotels, 102 limited service hotels, 14 senior living communities and the Host Marriott Operating Group, an entity that provided F&B in airports Marriott – Company profileFY 2010
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