We are a worldwide operator and franchisor of hotels and related lodging facilities.
In our Lodging business, which includes our Full-Service, Select-Service, Extended-Stay
and Timeshare segments, we develop, operate and franchise hotels and corporate
housing properties under 14 separate brand names and we develop, operate, and
market Marriott timeshare properties under four separate brand names.
Full-Service Lodging
Extended-Stay Lodging
??Marriott Hotels & Resorts
??Residence Inn
??Marriott Conference Centers
??TownePlace Suites
??JW Marriott Hotels & Resorts
??Marriott ExecuStay
??The Ritz-Carlton
??Marriott Executive Apartments and Other
??Renaissance Hotels & Resorts
??Ramada International
Timeshare
??(primarily Europe, Middle East and Asia/Pacific)
??Marriott Vacation Club International
??Bulgari Hotels & Resorts
??Horizons by Marriott Vacation Club International
??The Ritz-Carlton Club
Select-Service Lodging
??Marriott Grand Residence Club
??Courtyard
??Fairfield Inn
??SpringHill Suites
Our Synthetic Fuel operation consists of our minority interest in four coal-based
synthetic fuel production facilities whose operations qualify for tax credits
based on Section 29 of the Internal Revenue Code.
Competition
We encounter strong competition both as a lodging operator and as a franchisor.
There are approximately 600 lodging management companies in the United States,
including several that operate more than 100 properties. These operators are
primarily private management firms, but also include several large national
chains that own and operate their own hotels and also franchise their brands.
Management contracts are typically long-term in nature, but most allow the hotel
owner to replace the management firm if certain financial or performance criteria
are not met.