United States

Marriott International Inc (MAR.OQ)

MAR.OQ on NASDAQ Stock Exchange Global Select Market

2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Marriott International completes acquisition of Starwood Hotels & Resorts
Friday, 23 Sep 2016 12:35am EDT 

Marriott International Inc - :Says completed its acquisition of starwood hotels & resorts worldwide inc.  Full Article

Marriott International updates on China's Ministry Of Commerce review
Monday, 8 Aug 2016 08:10am EDT 

Marriott International Inc : Update on china's ministry of commerce review of Marriott and Starwood merger . At request of Chinese Ministry Of Commerce, agreed to extend time period for MOFCOM to complete review of Marriott-Starwood merger . Approval by china's ministry of commerce is only remaining merger clearance required before transaction may close . Additional review period, known as phase three, could last up to 60 days .Marriott and Starwood "continue to believe that their planned merger transaction poses no anti-competitive issues in china".  Full Article

Marriott International Q2 earnings per share $0.96
Wednesday, 27 Jul 2016 04:39pm EDT 

Marriott International Inc : For FY sees standalone comparable systemwide REVPAR on constant dollar basis will grow 3 percent in N. America, outside n. America and worldwide . On a standalone basis, Marriott expects full year 2016 adjusted EBITDA could total $1,889 million to $1,904 million . Sees q3 total fee revenue $495 million to $500 million; sees q4 total fee revenue $485 million to $490 million . Marriott international reports second quarter 2016 results . Q2 adjusted earnings per share $1.03 excluding items . Q2 earnings per share $0.96 . Q2 earnings per share view $0.98 -- Thomson Reuters I/B/E/S . Q2 revenue $3.9 billion versus i/b/e/s view $3.9 billion . Sees q3 total fee revenue $495 million to $500 million . Sees q4 total fee revenue $485 million to $490 million . Expects standalone investment spending in 2016 will total approximately $450 million to $550 million . North American comparable systemwide constant dollar REVPAR rose 3.2 percent in q2 . On a constant dollar basis, worldwide comparable systemwide REVPAR rose 2.9 percent in q2 . Sees FY standalone comparable systemwide REVPAR on constant dollar basis up roughly 3 percent in North America, outside North America and worldwide . "acquisition of Starwood Hotels & Resorts worldwide is expected to close in coming weeks" . Sees Q3 standalone comparable systemwide REVPAR on constant dollar basis up 3 to 4 percent in North America, outside North America and worldwide.  Full Article

Marriott International and NBA announce partnership extension
Thursday, 21 Jul 2016 01:54pm EDT 

Marriott International Inc : Co and National Basketball Association (NBA) announced a partnership extension . In addition, Marriott International will become an official partner of USA Basketball .Partnership extension will make co partner of league events, including NBA House Rio, NBA All-Star, and select NBA global games.  Full Article

Marriott gets antitrust clearance from European Union to buy Starwood
Monday, 27 Jun 2016 12:37pm EDT 

Marriott International Inc : Marriott receives antitrust clearance from the European Union to acquire Starwood .Marriott and Starwood anticipate closing transaction in July 2016.  Full Article

Marriott International entered fourth amended credit agreement
Monday, 13 Jun 2016 05:30pm EDT 

Marriott International Inc: Entered into fourth amended and restated credit agreement . Amended agreement amends and restates Marriott's $2.00 billion multicurrency revolving credit agreement . Amended agreement extends maturity date of 2013 agreement from July 18, 2018 to June 10, 2021 . Amended agreement increases facility size from $2.00 billion to $4.00 billion .Upon closing of Starwood acquisition , full $4.00 billion of aggregate commitments will be available under amended agreement.  Full Article

Marriott International increases quarterly cash dividend by 20 pct to $0.30 per share
Friday, 6 May 2016 10:34am EDT 

Marriott International Inc : Marriott international announces 20 percent increase in cash dividend .Increases quarterly cash dividend by 20 percent to $0.30per share.  Full Article

Marriott international and Starwood Hotels & Resorts Worldwide sign amended merger agreement
Monday, 21 Mar 2016 07:00am EDT 

Marriott international and Starwood Hotels & Resorts:Revised terms value Starwood at $79.53 per share or $13.6 billion.Total per share value of $85.36 with separate ILG transaction consideration.Says Starwood shareholders will own approximately 34 percent of combined company's common stock after merger.Marriott expects transaction to be roughly neutral to adjusted earnings per share in 2017 and 2018.Says one-time transaction costs for merger are expected to total approximately $100 million to $130 million.Break-Up fee payable by Starwood in certain circumstances increased to $450 million from $400 million.Parties continue to expect transaction to close in mid-2016.Targeted annual G&A synergies increased to $250 million run-rate.Transition costs are also expected to be incurred over next two years.Under terms of amended merger agreement, starwood shareholders to receive $21 in cash and 0.80 shares of co's class a common stock for each starwood share.Where termination fee is payable , Starwood required to reimburse co for up to $18 million of actual costs incurred by co.Marriott international and Starwood Hotels & Resorts Worldwide sign amended merger agreement.  Full Article

Marriott announces Carl Berquist to retire as chief financial officer
Monday, 7 Dec 2015 08:00am EST 

Marriott International, Inc:Says Carl Berquist, Marriott's executive vice president and chief financial officer for the past seven years, will retire as CFO on December 31, 2015, remaining with the company as a special adviser through March 2016.Leeny Kelly Oberg, a 16-year Marriott veteran, and currently chief financial officer for The Ritz-Carlton Hotel Company, LLC, a wholly-owned subsidiary of Marriott, will become Marriott's chief financial officer on January 1, 2016, succeeding Berquist.  Full Article

Ashford Hospitality Prime, Inc to acquire The Ritz-Carlton St. Thomas
Tuesday, 24 Nov 2015 04:15pm EST 

Ashford Hospitality Prime, Inc:Prime to acquire The Ritz-carlton St. Thomas for $64 million.Says intends to finance the property with approximately $40 million of non-recourse mortgage debt.Agreement to acquire ritz-carlton St. Thomas for $64 million from Marriott International Inc.Property will continue to be operated as a ritz-carlton property under a long-term management agreement with ritz-carlton.  Full Article

Fitch Affirms AccorHotels at 'BBB-'; Outlook Stable

(The following statement was released by the rating agency) LONDON, November 23 (Fitch) Fitch Ratings has affirmed AccorHotels SA's (AccorHotels) Long Term Issuer Default Rating (IDR) and senior unsecured rating at 'BBB-'. We have also affirmed AccorHotels's Short-Term IDR and commercial paper (CP) facility at 'F3' and the group's EUR900m subordinated hybrid perpetual bond at 'BB'. The Outlook is Stable. The ratings reflect AccorHotels' position as the leading European hotel group, and the