Marriott To Open 1,700 Hotels, Return $11 Billion To Shareholders By 2021

www.oann.com | 11/16/2015 | Staff
marisha (Posted by) Level 3
(Reuters) – Hotel chain Marriott International Inc on Monday mapped out a three-year plan to open more than 1,700 hotels around the world, return up to $11 billion to shareholders and make a full-year profit of as much as $8.50 per share by 2021.

Marriott, which owns the Ritz-Carlton and St. Regis luxury hotel brands, said it would add between 275,000 and 295,000 rooms over three years, potentially adding $400 million in fee revenue in 2021 and $700 million annually when stabilized.

Company - Profit - Share - Point - Analysts

The company also forecast a profit of $7.65 to $8.50 per share by 2021, the mid point of which was above $7.72 estimated by analysts, according to Refinitiv data.

During the three-year period, the company plans to pay $1.9 billion to $2...
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