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International Guild of Hospitality & Restaurant Managers

Marriott International (MAR)

Marriott International Inc. is a worldwide operator and franchisor of hotels and related lodging facilities, an operator of senior living communities and a provider of distribution services. The Company's operations are grouped into six business segments, Full-Service Lodging, Select-Service Lodging, Extended-Stay Lodging, Timeshare, Senior Living Services and Distribution Services, which represented 52%, 9%, 6%, 10%, 7% and 16%, respectively, of total sales in the fiscal year ended December 28, 2001. Marriott operates or franchises 2,398 lodging properties worldwide, with 435,983 rooms as of December 28, 2001. In addition, Marriott provides 6,121 furnished corporate housing units. In early 2001, Marriott announced plans to launch a joint venture with Bulgari SpA to introduce a distinctive new luxury hotel brand, Bvlgari Hotels and Resorts. The first property is expected to open in 2003. At December 28, 2001 , Marriott operated a total of 916 properties (235,102 rooms) under long-term management or lease agreements with property owners or as owned. At December 28, 2001 , Marriott had 1,482 franchised properties (200,881 rooms). Marriott plans to open over 150 hotels (25,000 - 30,000 rooms) during 2002.

Full-Service Lodging

Marriott Hotels, Resorts and Suites primarily serve business and leisure travelers and meeting groups at locations in downtown and suburban areas, near airports, and at resort locations. These include 20 JW Marriott Hotels & Resorts; 13 conference centers (3,259 rooms) offering a meeting room space, dining facilities, guestrooms and recreational facilities; Ritz-Carlton hotels and resorts with 250 to 350 guest rooms, and typically including meeting and banquet facilities, a variety of restaurants and lounges, gift shops, swimming pools and parking facilities; Renaissance hotels containing 300 to 500 rooms; and the Ramada International featuring a restaurant, cocktail lounge and full-service meeting and banquet facilities.

Select-Service Lodging

Marriott operates the Courtyard hotels with 90 to 150 rooms; Fairfield Inn and Fairfield Inn & Suites with 60 to 140 rooms and a swimming pool, complimentary continental breakfast and free local phone calls (at December 28, 2001, 480 Fairfield Inns (45,895 rooms) were located in 48 states); and the SpringHill Suites, which typically has 90 to 165 rooms (at December 28, 2001, 84 properties (9,592 rooms) were located in 28 states and Canada).

Extended-Stay Lodging

Marriott operates the Residence Inn hotels, which generally have 80 to 150 rooms, with a mix of studio, one-bedroom and two-bedroom suites; and the TownePlace Suites containing 100 high quality studio and two-bedroom suites (at December 28, 2001, 99 TownePlace Suites (10,261 rooms) were located in 30 states). Marriott also provides temporary housing (serviced apartments) for business executives and others who need quality accommodations outside their home country, usually for 30 or more days. At December 28, 2001 , ten serviced apartment properties (1,896 units), including six Marriott Executive Apartments, were located in six countries and territories. All Marriott Executive Apartments are located outside the United States . In addition, Marriott offers ExecuStay, which provides furnished corporate apartments for stays of one month or longer nationwide.

Timeshare

In the Timeshare business segment, it has the Marriott Vacation Club International that develops, sells and operates vacation timesharing resorts. In 2001, Marriott launched the Marriott Grand Residence Club, its "fractional share" business line, with sales initiated in Lake Tahoe , California . In this new business line, fractional shareowners purchase the right to stay at their property up to 13 weeks each year. In addition, Marriott continued to grow The Ritz-Carlton Club timeshare business line (launched in 2000) by initiating sales in Bachelor Gulch, Colorado , and Jupiter, Florida . Lastly, Marriott initiated sales at three new Marriott Vacation Club International locations: Waiohai Beach Club, Hawaii, Ko Olina, Hawaii, and Phuket Beach Club, Asia. Marriott continues to offer timeshare intervals through Horizons by Marriott Vacation Club (Horizons), Marriott's moderate tier vacation ownership business line. Marriott Vacation Club International had an owner base of 195,000 owners at year-end 2001.

Senior Living Services

In the Senior Living Services segment, Marriott develops and operates 156 senior living communities offering independent living, assisted living and skilled nursing care for seniors in the United States. At December 28, 2001, Marriott operated 48 independent full-service senior living communities, which offer both independent living apartments and personal assistance units for seniors. Most of these communities also offer licensed nursing care. At December 28, 2001, Marriott also operated 108 assisted living senior living communities principally under the names Brighton Gardens by Marriott, Marriott MapleRidge, and Village Oaks.

Marriott Distribution Services

MDS is a U.S. limited-line distributor of food and related supplies, carrying an average of 3,000 product items per distribution center. This segment originally focused on purchasing, warehousing and distributing food and supplies to other Marriott businesses. However, MDS has increased its third-party business to about 93% of total sales volume for the year ended December 28, 2001. MDS operated a nationwide network of 13 distribution centers at December 28, 2001.

Other Activities

Marriott manages 26 golf courses, and 18 system-wide hotel reservation centers, 11 of them in the United States and Canada and seven internationally, that handle reservation requests for Marriott lodging brands worldwide, including franchised properties. Marriott's Architecture and Construction Division assists in the design, development, construction and refurbishment of lodging properties and senior living communities.

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The data included within the Financial section is solely for information and does not construe a recommendation and/or endorsement by IGHRM or its members to invest funds with any of the companies listed. You are strongly advised to obtain professional advice with qualified individuals or corporations for any investments of funds.

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