Marriott International, Inc. - Marketing Research Audit Report
Autor: Adnan • November 3, 2018 • 2,578 Words (11 Pages) • 834 Views
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Financial Performance
Marriott International receives support from about 57 subsidiaries which are developed and tailored to the Marriott brand standards prior to their independence into strategic business units (SBU). Through the adoption of this model, the corporation is able to maintain an advantage over its competition. Marriott’s movement of timeshares from the Marriott International brand to its SBU resulted in its shareholder equity to tumble. This was one of the notable financial changes which caused a breakdown of the corporation’s debt-to-equity and fixed-asset to equity. However, the promise of 600 new international investments in property by 2015 resulted in a rise of its equity annually. Its current ratio of assets over liabilities fell slightly due to the timeshare separation but has steadily increased since, an indication that the corporation is experiencing significant growth due to its increasing assets annually. It is therefore expected that Marriott’s assets over liabilities ratio should increase to become greater than 1 within an expected period of five years. The corporation is also experiencing a growth in its stock price due to the growing lodging and hotel markets especially overseas. The corporation was able to celebrate its record high market price share of $79.20 with a cap of 21.95B. They therefore fall in second place after Hilton with a slow but steady increase expected to carry on annually. This assumption is based on its positive EBITDA margin and sales/Net Working capital which indicates the high profitability of its current and developing projects.
Hilton
2009
2010
2011
2012
2013
Current Ratio
1.37
1.20
1.11
Debt to Equity
8.99
6.95
2.93
Fixed Assets to Equity
13.00
10.00
5.54
EBITDA Margin
14.80%
15.40%
16.60%
Sales/Net Working Capital
6.28
7.45
7.57
Marriott
2009
2010
2011
2012
2013
Current Ratio
1.25
1.35
0.52
0.53
0.71
Debt to Equity
2.10
1.78
Equity
Equity
Equity
Fixed Assets to Equity
4.45
3.53
Equity
Equity
Equity
EBITDA Margin
1.00%
7.40%
5.20%
9.10%
8.70%
Sales/Net Working Capital
6.34
6.76
30.72
25.19
Negative NWC
Starwood
2009
2010
2011
2012
2013
Current Ratio
0.74
1.07
1.27
0.95
1.04
Debt to Equity
1.62
1.36
0.92
0.58
0.48
Fixed Assets to Equity
3.99
3.02
2.38
2.21
2.01
EBITDA Margin
4.40%
16.00%
15.40%
15.70%
18.70%
Sales/Net Working Capital
4.32
4.31
4.55
7.65
8.10
Wyndham
2009
2010
2011
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