Marriott International Inc's

We encounter strong competition both as a lodging operator and as a franchisor. There are approximately 872 lodging management companies in the United States, including approximately nine 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. Our 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.