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Marriott International : Names Global Development Leadership

03/12/2021 | 08:19am EDT

Marriott International, Inc. (NASDAQ: MAR) announced today the appointments of Carlton Ervin as Global Development Officer, International and Noah Silverman as Global Development Officer, U.S. & Canada. These announcements follow the recent appointments of Anthony Capuano as Marriott's new Chief Executive Officer and Stephanie Linnartz as President. As Global Development Officer, International, Mr. Ervin will oversee development in Europe, the Middle East, Africa, the Caribbean & Latin America, and Asia Pacific, where he will focus on expanding Marriott's portfolio. In his role as Global Development Officer, U.S. & Canada, Mr. Silverman will be responsible for the development of all Marriott brands in the United States and Canada.

'Noah and Carlton have been instrumental in driving Marriott's rooms growth and incredibly strong development pipeline. Their proven track record positions them well to lead Global Development as we move forward,' said Stephanie Linnartz, President, Marriott International. 'Their combined experience, strategic vision and relationships with the owner and franchisee communities around the world will help to advance the company's growth strategy, including expansion into new and underserved markets.'

Carlton Ervin
A 21-year veteran of the company, Mr. Ervin most recently served as Chief Development Officer, Europe, Middle East and Africa, where he was responsible for leading Marriott's development efforts for all brands across that region. Mr. Ervin played a pivotal role in the acquisition and European roll-out of the AC by Marriott brand, the development of the Moxy brand in Europe and the integration of the Starwood Hotels and Resorts acquisition. Mr. Ervin began his career with the company as an attorney in Marriott's Law Department focused on supporting development in the Caribbean & Latin America (CALA). In 2002, he became a Vice President in Development focused on the company's CALA region, taking on the role of Chief Development Officer for CALA in 2005. In 2008, Mr. Ervin was appointed to the role of Chief Development Officer, Europe, and in 2020, the Middle East and Africa were added to his portfolio. Mr. Ervin received his J.D. from Harvard Law School and a dual B.A. in Economics and Political Science from Duke University.

Noah Silverman
Mr. Silverman most recently served as Chief Development Officer, U.S. & Canada Full Service Hotels, where he was responsible for overseeing all aspects of the development process in the United States and Canada for the company's luxury and premium brands. A 24-year veteran of the company, Mr. Silverman played a crucial role in the acquisition and subsequent growth of the Delta by Marriott Hotels and Gaylord Hotels brands and the acquisition of Starwood Hotels and Resorts. Mr. Silverman began his Marriott career as a litigation attorney and then a franchise attorney in the company's Law Department. Prior to his appointment as Chief Development Officer, U.S. & Canada Full Service Hotels in 2011, Mr. Silverman held a number of leadership roles in asset management and finance, including Senior Vice President, Global Asset Management from 2010 to 2011; Senior Vice President, Development Asset Management, from 2008 to 2010; and Senior Vice President, Project Finance, from 2006 to 2008. Mr. Silverman received his J.D. from the University of Pennsylvania Law School and his A.B. from Princeton University.

As of 2020 year-end, Marriott's worldwide development pipeline totaled nearly 2,900 properties and more than 498,000 rooms, including roughly 20,000 rooms approved, but not yet subject to signed contracts. Over 229,000 rooms in the pipeline were under construction.

About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 7,600 properties under 30 leading brands spanning 133 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 our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

All statements in this press release are made as of March 11, 2021. We undertake 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 travel and lodging demand; rooms growth and our development pipeline; our growth strategy and opportunities; leadership changes; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including those we identify below and other risk factors that we identify in our Securities and Exchange Commission filings, including our most recent Annual Report on Form 10-K. Risks that could affect forward-looking statements in this press release include the duration and scope of the COVID-19 pandemic and efforts to contain it (COVID-19), including the availability and distribution of effective vaccines or treatments; its short and longer-term impact on the demand for travel, transient and group business, and levels of consumer confidence; actions governments, businesses and individuals have taken or may take in response to the pandemic, including limiting or banning travel and/or in-person gatherings or imposing occupancy or other restrictions on lodging or other facilities; the impact of the pandemic and actions taken in response to the pandemic on global and regional economies, travel, and economic activity, including the duration and magnitude of its impact on unemployment rates and consumer discretionary spending; the ability of our owners and franchisees to successfully navigate the impacts of COVID-19; the pace of recovery when the pandemic subsides or effective treatments or vaccines become widely available; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps we and our property owners and franchisees have taken and may continue to take to reduce operating costs and/or enhance certain health and cleanliness protocols at our hotels; the impacts of our employee furloughs and reduced work week schedules, our voluntary transition program and our other restructuring activities; competitive conditions in the lodging industry; relationships with customers and property owners; and the availability of capital to finance hotel growth and refurbishment. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release.



Marriott International Inc. published this content on 12 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 March 2021 13:18:10 UTC.

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Financials (USD)
Sales 2021 13 441 M - -
Net income 2021 622 M - -
Net Debt 2021 9 338 M - -
P/E ratio 2021 77,8x
Yield 2021 0,06%
Capitalization 47 758 M 47 758 M -
EV / Sales 2021 4,25x
EV / Sales 2022 3,09x
Nbr of Employees 121 000
Free-Float 83,1%
Duration : Period :
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Technical analysis trends MARRIOTT INTERNATIONAL, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 141,48 $
Last Close Price 146,69 $
Spread / Highest target 19,3%
Spread / Average Target -3,55%
Spread / Lowest Target -18,9%
EPS Revisions
Managers and Directors
Anthony G. Capuano Chief Executive Officer & Director
Stephanie C. Linnartz President
Kathleen Kelly Oberg Chief Financial Officer & Executive Vice President
John Willard Marriott Executive Chairman
James H. Scholefield Chief Information & Digital Officer
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