IHG - Marriott: Good Prospects But Valuation Appears Stretched
2024-03-21 10:33:33 ET
Summary
- Marriott delivered a solid FY2023 on the back of continued post-pandemic travel demand. Near term performance likely to moderate as China recovery is offset by receding revenge travel and macro.
- Marriott growth strategy focuses on expanding room share and tapping into fast-growing markets like the midscale segment and all-inclusive resorts segment.
- An unrivaled worldwide location footprint, brand portfolio and loyalty program are long term competitive advantages that should support continued above-average profitability.
- With the stock up over 50% over the past year, their valuation appears quite stretched.
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Marriott: Good Prospects But Valuation Appears Stretched