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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Marriott International    MAR

MARRIOTT INTERNATIONAL

(MAR)
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Marriott International : Faces $123 Million Fine Over Starwood Data Breach -- 2nd Update

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07/09/2019 | 08:43am EDT

By Colin Kellaher

Marriott International Inc. faces a fine of $123.6 million for a breach of the Starwood guest-reservation database, as the U.K.'s privacy watchdog takes aim at the world's largest hotel company.

Marriott said it would appeal the fine issued by the U.K. Information Commissioner's Office, or ICO.

The hotel owner disclosed in November that a hack of the reservation database for its Starwood properties might have exposed the personal information of hundreds of millions of guests.

"We are disappointed with this notice of intent from the ICO, which we will contest," said Arne Sorenson, Marriott's president and chief executive.

The potential fine comes a day after British Airways said it faces a potentially record $230 million fine from the ICO, which alleges the carrier failed to protect passenger data after a hack last year. The airline's parent International Consolidated Airlines Group SA said it would appeal the fine.

The EU's General Data Protection Regulation, or GDPR, aims to hold companies accountable for safeguarding the personal data increasingly swept up in today's digital world. It falls to national regulators -- in Britain, the ICO -- to enforce the rules for companies within their jurisdiction.

"Marriott has been cooperating with the ICO throughout its investigation into the incident, which involved a criminal attack against the Starwood guest-reservation database"

In the U.S., there is no central authority for probing and punishing failures at consumer data protection. In many cases, companies subject to such hacks can be liable for customers' financial losses stemming from unauthorized access to their data. States have also taken firms to task for data breaches.

Write to Colin Kellaher at colin.kellaher@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
MARRIOTT INTERNATIONAL -0.56% 129.45 Delayed Quote.20.38%
STARWOOD PROPERTY TRUST, INC. 0.15% 23.685 Delayed Quote.19.99%
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Financials (USD)
Sales 2019 21 055 M
EBIT 2019 2 753 M
Net income 2019 1 679 M
Debt 2019 10 567 M
Yield 2019 1,41%
P/E ratio 2019 25,6x
P/E ratio 2020 19,6x
EV / Sales2019 2,55x
EV / Sales2020 2,44x
Capitalization 43 041 M
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Technical analysis trends MARRIOTT INTERNATIONAL
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 139,30  $
Last Close Price 130,68  $
Spread / Highest target 38,5%
Spread / Average Target 6,60%
Spread / Lowest Target -5,88%
EPS Revisions
Managers
NameTitle
Arne M. Sorenson President, Chief Executive Officer & Director
John Willard Marriott Executive Chairman
Raymond Bennett Chief Global Officer- Global Operations
Kathleen Kelly Oberg Chief Financial Officer & Executive Vice President
Bruce Hoffmeister Global Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
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