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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Marriott International., Inc.    MAR

MARRIOTT INTERNATIONAL., INC.

(MAR)
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Marriott International : Announces Redemption of its 3.375% Series M Notes Due 2020

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06/30/2020 | 04:16pm EDT

BETHESDA, Md., June 30, 2020 /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR) today announced that on July 30, 2020 (the "Redemption Date") it will redeem all $350,000,000 aggregate principal amount of its outstanding 3.375% Series M Notes Due October 15, 2020 (CUSIP No. 571903 AL7) (the "Notes").

The Notes will be redeemed on the Redemption Date at a redemption price equal to the sum of 100% of the aggregate principal amount of the Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the Redemption Date. On and after the Redemption Date, interest will cease to accrue on the Notes and the Notes will cease to be outstanding.

Cautionary Language Concerning Forward-Looking Statements

All statements in this press release are made as of June 30, 2020.  Except as required by applicable law, Marriott undertakes no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise.  This press release contains "forward-looking statements" within the meaning of federal securities laws, including statements related to the expected timing and completion of the redemption and similar statements concerning anticipated future events and expectations that are not historical facts.  Marriott cautions you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that Marriott may not be able to accurately predict or assess, including the risk factors that Marriott identifies in its Securities and Exchange Commission filings, including Marriott's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2020.  Any of these factors could cause actual results to differ materially from the expectations Marriott expresses or implies in this press release.

Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 7,400 properties under 30 leading brands spanning 134 countries and territories.  Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world.  The company offers Marriott Bonvoy™, its highly-awarded travel program.  For more information, please visit Marriott's website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Marriott may post updates about COVID-19 and other matters on its investor relations website at www.marriott.com/investor or Marriott's news center website at www.marriottnewscenter.com.  Marriott encourages investors, the media, and others interested in the company to review and subscribe to the information Marriott posts on these websites, which may be material.  The contents of these websites are not incorporated by reference into this press release or any report or document Marriott files with the SEC, and any references to the websites are intended to be inactive textual references only.

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SOURCE Marriott International, Inc.


© PRNewswire 2020
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Financials (USD)
Sales 2020 13 221 M - -
Net income 2020 119 M - -
Net Debt 2020 10 049 M - -
P/E ratio 2020 181x
Yield 2020 0,60%
Capitalization 28 350 M 28 350 M -
EV / Sales 2019
EV / Sales 2020 2,90x
Nbr of Employees 174 000
Free-Float 83,4%
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Technical analysis trends MARRIOTT INTERNATIONAL., I
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 30
Average target price 98,02 $
Last Close Price 87,43 $
Spread / Highest target 69,3%
Spread / Average Target 12,1%
Spread / Lowest Target -15,4%
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
Stephanie C. Linnartz Group President-Consumer Operations & Technology
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