|Exchange:||New York Stock Exchange|
|Stock:||Marriott International, Inc.|
|Marriott International, Inc., was organized as a corporation in Delaware in 1997 and became a public company in 1998. The Company is an operator, franchisor, and licensor of hotels and timeshare properties under numerous brand names at different price and service points. It operate, franchise or license 3,801 lodging properties worldwide, with 660,394 rooms inclusive of 35 home and condominium products (3,927 units) for which it manages the related owners’ associations. The Company’s lodging brands are: Marriott Hotels & Resorts®, Marriott Executive Apartments®, JW Marriott®, The Ritz-Carlton®. Renaissance® Hotels, Bulgari Hotels & Resorts, Gaylord Hotels®, EDITION®, Autograph Collection® Hotels, AC Hotels by Marriott SM, Courtyard by Marriott® (‘Courtyard®’), Marriott Vacation Club®, Fairfield Inn & Suites by Marriott® (‘Fairfield Inn & Suites®’), The Ritz-Carlton Destination Club®, SpringHill Suites by Marriott® (‘SpringHill Suites®’), The Ritz-Carlton Residences®, Residence Inn by Marriott® (‘Residence Inn®’), Grand Residences by Marriott SM, TownePlace Suites by Marriott® (‘TownePlace Suites®’). The Company uses or licenses its trademarks for the sale of residential real estate either in conjunction with hotel development or on a stand-alone basis under its The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection, and Marriott brand names. Under its business model, it manages or franchises hotels, rather than own them. At year-end 2012, it operated 43 percent of the hotel rooms in its worldwide system under management agreements, its franchisees operated 54 percent under franchise agreements, unconsolidated joint ventures that it has an interest in held management and provided services to franchised properties for 1 percent, and it owned or leased only 2 percent. The Company encounters strong competition both as a lodging operator and as a franchisor. The properties it operates or develops are subject to national, state, and local laws and regulations that govern the discharge of materials into the environment or otherwise relate to protecting the environment.|
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