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Marriott International Inc (MAR.OQ)

MAR.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

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

Marriott International Incto acquire Starwood Hotels & Resorts Worldwide
Monday, 16 Nov 2015 06:00am EST 

Marriott International Inc Starwood Hotels & Resorts Worldwide:To acquire Starwood Hotels & Resorts Worldwide Inc.Says total consideration to be paid by Marriott totals $12.2 billion.Says Starwood shareholders will receive 0.92 shares of Marriott International Inc class a common stock.On pro forma combined basis,marriott and Starwood generated $2.7 billion in fee revenue in the 12 months ending September 2015.Says Marriott expects transaction to be earnings accretive by the second year after the merger.Says deal includes $2.00 in cash for each share of Starwood common stock.Says Marriott will assume starwood's recourse debt at the closing of the transaction.Says in 2015, Marriott expects to return at least $2.25 billion in dividends and share repurchases to shareholders.Says one-time transaction costs for the merger are expected to total approximately $100 to $150 million.Says arne sorenson will remain president and chief executive officer of Marriott International following the merger.Marriott's board of directors following the closing will increase from 11 to 14 members after deal close.Says transition costs are expected to be incurred over the next two years.Merger transaction has a current value of $72.08 per Starwood share.  Full Article

Marriott International Inc declares cash dividend
Thursday, 5 Nov 2015 11:31am EST 

Marriott International Inc:Declared a quarterly cash dividend of $0.25 per share of common stock.Dividend is payable on December 28 to shareholders of record date on November 19.  Full Article

Marriott International Inc gives Q4 2015 worldwide comparable systemwide RevPAR guidance; gives FY 2015 EBITDA guidance above analysts' estimates
Wednesday, 28 Oct 2015 04:30pm EDT 

Marriott International Inc:Expects Q4 2015 worldwide comparable systemwide RevPAR to increase 4 to 6 percent on a constant dollar basis.Expects FY 2015 adjusted EBITDA will total $1.729 billion to $1.749 billion.FY 2015 EBITDA of $1.70 billion - Thomson Reuters I/B/E/S.  Full Article

BRIEF-Marriott International and NBA announce partnership extension

* Co and National Basketball Association (NBA) announced a partnership extension