BACKGROUND Marriott International, Inc. considered being one of the biggest and oldest worldwide hospitality companies.

Its legacy started with a small stand of soft-drink established by J. Willard and Alice S. Marriot in Washington DC in the year 1927. At present the Marriot International has the largest global presence with wide network of 2,800 lodging properties owned in 70 different countries and regions of the world. INTRODUCTION The luxury 5 * London Marriott Hotel is located at the Londons South Bank, County Hall is conventionally graceful. You can have beautiful views of the Big Ben & the River Thames 7 the hotel comforts and the top-class service are begrudging of most of the hotels in London. As it was used as seat of government earlier, but now the Marriot has been restored but the beautiful architecture and elegance is not lost but glorified - from the eminent bronze doors to the polished marbled floors. The guest rooms are air-conditioned and equipped with a dedicated work area, featuring internet access, luxury bedding and most of the rooms offer river views. You can have a go in the indoor swimming pool and let your problems and tensions vanish, or enjoy the exercise in the gym, or you can have a spa relaxing treatment. When you have done enough of sightseeing or attended meetings, one can enjoy the most delicious meal in the Country Hall Restaurant or you can have the cocktail in the lounge of your choice. The hotel is the perfect place to accommodate and arrange an event for you and along with this one of the flawless catering can be provided. The Marriott Hotel, County Hall is the best choice if you are looking for delicate accommodation and matchless service. One always look up to The Marriott Hotel, County Hall when they wish to enjoy the most beautiful and full of fun holidays and tours. OBJECTIVES
Marriott Corporation's objective was growth oriented and their motive was to remain a best growth company, by utilizing the most responsive and sharp opportunities in the lodging, contract services, and business related to it. One of the important goals associated with the growth objective was to be the most profit generating company" in the industry in which it is part of (p. 577, Case). The financial strategy of the firm consisted of the four components which were to (1) manage hotel properties as opposed to owning the properties, (2) shareholder value to be increased by investing in those projects which are profitable, (3) take advantage of the debt in the firms capital, and (4) the undercapitalized shares are to be repurchased. Every one of the above mentioned four components of the firms financial strategy are directly related and important to the growth objective of the firm. There is a greater value created by managing the properties as compared to the owning of opportunities; so by following this, the objective of the firm to be premier growth company is supported and strengthened. The other component which ensures the investment in the profitable projects is also necessary for the growth objective of the firm, because if investment is done in the profitable projects then it can easily enhance the market value of the firm as well as the value of the shareholders. The component which deals with the optimizing the use debt is important in a way that because the

firm with the lower percentage of debt, enjoys high market value. This strategy is used by Marriot in order to increase its value and therefore increase its profitability.

The last of the four components deals with the repurchase of the undervalued shares: the advantage Marriott has by repurchasing the undervalued shares is that it can increase PE ration when desired and it can have impact of creating the investors holdings more valuable because share prices will increase (increase in ROE). At the same time it also can please the investors and stop them from mounting the pressure to increase the dividend, so by doing this it has one more advantage that it can use its retained earnings for investment in the profitable projects. This strategy means that Marriott are confident in its future performance.

SWOT ANALYSIS Strengths High brand recall The Marriot is one of the few leading hotels and leisure companies which is formed by the strong brand power. Marriot enjoys a high brand recall at the corporate level. The Marriott Hotels & Resorts, JW Marriott Hotels & Resorts, The Ritz-Carlton, Bulgari Hotels & Resorts, Grand Residences by Marriott, Courtyard by Marriott, and TownePlace Suites by Marriott, are some of the brand names under which the company operates worldwide in the major markets. So, it has a brand conscious support from the customers all around the globe. The Marriot has this advantage to being the only company to be crowned as the most admired company in the industry of hotels, resorts, casinos, in March 2008 by Fortune Magazine for the consecutive ten years in a row. The "Most Admired" list is made up of companies and is not an ordinary one because it is selected by the people those matter, Executives, Directors, and Analysts of the companies in their own industry on eight different criteria, including innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment, and products/services quality. Besides that company has also received numerous awards in the recent past which truly reflects its growth and admiration. Few of the awards that were bestowed upon the company in the year 2009 are: "2009 Tourism for Tomorrow Award for Sustainability", "World's Most Ethical Companies", "Sustained Excellence Award", and "2009 Workplace Excellence and Health & Wellness Trailblazer Award". the advantage high brand recall adds to the company is that it attracts customers to the hotel and at the same time the entrance in the new markets is eased due to brand consciousness. Diverse portfolio serving multiple customer segments Marriot has the advantage that it operates in all of the segments of the hotel sector i.e. upscale and mid-scale. The Ritz-Carlton, JW Marriott Hotels & Resorts and Bulgari Hotels

& Resorts are the brand names under which Marriot offers luxury hotels. Whereas the Courtyard by Marriott, SpringHill Suites by Marriott and Fairfield Inn by Marriott are part of the mid-scale and upper moderate segment of the Marriot. The brands such as Marriott Hotels & Resorts and Renaissance Hotels & Resorts. Extended Stay segment operates brands such as TownePlace Suites by Marriott, Marriott Executive Apartments and Marriott ExecuStay are included in the company's quality segment. The diverse portfolio helps in developing the price as well as product matrix for each of the different customer segments and new addressable markets of the company by developing the product range and pricing strategy differently for each of the segment. Strong technological orientation The one of the biggest and strongest competitive advantage Marriot has over it competitors is the technology. The Marriott.com owned by the company is the worlds seventh largest consumer retail website. The 20% of the gross property sales of the company is channeled through this website. In the FY2008 revenues worth $6,200 million gross property level was provided by the website, which was 19% higher than that in the previous year. Moreover the sales of the property level from the company's international web sites increased 66%. In addition to the website access the company also provides the booking facilities to the customers through mobile. The booking facility provided through mobile has proved fruitful and has generated the guest booking of worth 4 2.0 million through this mobile booking engine. The company has moved one step further ahead and ensured the connectivity with over 400,000 individuals around the world through the social media networks such YouTube, Twitter, Facebook, Marriott Rewards Insiders, and there is a blog owned by the company called, "Marriott on the Move." Therefore the ability of the company to fully utilize the technological advancement is enabling the company to minimize its promotion expenditures and enhance the level of connection with the customers in order to boost its growth. Weaknesses Weak operational performance Standard & Poors Ratings Service (S&P) in April 2009 rated lower in the Marriots credit rating. S&P rated lower the Marriots debt rating from BBB to BBB-. This decrease in the rating of the Marriot suggests that there is a downward expectation in the revenue available in the US lodging industry for per available room, will decline to the level between 14-16% in the year. The impact this downgrade rating on the company is that it creates difficulty for the company to have excess to the credit market and it will become expensive too. The cost of capital of the company will be increased by any further lower rating from the S&P or any other similar rating agencies. Declining margins In FY2008, the company witnessed the decline in the profit margins. In the FY 2007 there was an increasing trend in the operating margin and net margin of the company, but has

dramatically started to decline in the last financial year. The decline in the operating margin observed was from 9.1% in FY2007 to 6.1% in FY2008, this suggests that the cost structure of the company is not managed efficiently. A similar kind of decline is also witnessed in the net profit margin too, it has been decreased to 2.8% in FY2008, which was around 5.4% in the FY 2007. This decline in the profit margin shows that there is an impact on the profit making capacity of the company and it can lower the investors confidence in the company. Opportunities Renovation initiatives In the recent past the company has underwent some renovation initiatives. The transformation in the existing hotels was made in the Fy2008. With expenditure to $138.0 million, the owners of the Atlanta Marriot marquis chain have finished the renovation of the hotels. A three year reconstruction and renovation worth $2,000 million have been completed by the companys Renaissance hotels & Resorts segments. The venue, located on Berners Street in Londons Fitzrovia, has went into administration in August this year and has been closed since then. Ian Schrager, known for his individualized boutique style, has been given the responsibility by the owners, for developing and redesigning it as the Edition hotel and enhance its uniqueness of structure. Current strategy The collaboration with the Schrager by the Marriot was first seen in 2007, when up to 100 hotels around the world were to be created as the new boutique brand of hotels. The main intention behind this move was to ensure the entrance of Marriot as a new modern genre of hotels, and on a large scale it was to be the first global branded boutique lifestyle hotel. It is worth delight, the acquisition of the Berners. As an Edition hotel in London, it is a perfect property. President and Chief Operating officer, Marriott International, Arne Sorenson has said that With its great location, beautiful faade, the building is a perfect canvass for creating a true work of art. Schrager has mentioned that he wished to enhance this historic building into an authentic and original experience. In the next 18 24 months, the hotel will be undergoing the refurnishing and renovation process. As it has been the business strategy, the Marriot plans to come to a long=term agreement with a third party, to sell them the hotel and at the same time keep the management under its own control. Global perspective

The Seville Hotel in Miami Beach was also acquired by the Marriott, earlier this year, with an intention to refurnish and renovate it into an Edition hotel. And in the first half of 2011, The Istanbul edition, which is expected to be opened by the group. The right choice of EPoS system will help you increase your profits, reduce waste and outshine your competitors. Download our free whitepaper to find out how... Click here In the gateway cities of North America, Europe and Asia, few of the other Edition Hotels are planned. The leading location around the globe are on the groups radar as prospective markets are Paris, Berlin, Frankfurt, Madrid, Barcelona, Milan and Rome in Europe; New York, Los Angeles, Chicago, San Francisco, San Diego, Boston, and Las Vegas in the U.S.; and Beijing, Shanghai, Singapore, Bangkok, Seoul and Tokyo in Asia. In June 2007, Schrager on the launch of the collaboration said: Both Marriott and I have a new vision and plan to revolutionize and launch the lifestyle boutique hotel into the present by fascinating the spirit of the times. There is a more advanced sense among the people regarding the good design, quality, originality and dedication to excellence. The people at this point of time want the hotel to reflect the authenticity and characteristic and they are denying anything which is not original or pure. Their expectation is to have flawless, advanced and benignant personalized service which is both luxurious as well as down to earth and they truly deserve it. It is the ultimate balancing act of these evident contradictions to create a hotel that is at the same time specific and customized as well as universal too. Our intention is to make this kind of lodging facilities available across the globe and to vast number of people around the world who wants it.