Summary
Marriott International, Inc. (MAR) filed an 8-K on June 18, 2012, to disclose enhanced financial information during a Security Analyst Meeting held in Beijing, China. The primary purpose was to provide investors with more detailed insights into the company's performance and financial condition. Key disclosures include historical incentive management fee revenue by region for fiscal years 2007-2011, a breakdown of owned, leased, corporate housing, and other revenue (net of direct expenses) for 2010-2011, and adjusted return on invested capital for fiscal year 2011. These materials, presented at the meeting and available via webcast and on the company's investor relations website, aim to offer greater transparency and context for investors analyzing Marriott's business operations and financial health.
Key Highlights
- 1Marriott is holding a Security Analyst Meeting in Beijing, China, on June 18-19, 2012, with a webcast for investors.
- 2The company is providing enhanced disclosure of historical financial information for fiscal years 2007 through 2011.
- 3Specific data points include incentive management fee revenue broken down by region.
- 4Details on the composition of owned, leased, corporate housing, and other revenue (net of direct expenses) for 2010 and 2011 are being shared.
- 5Marriott is also disclosing its adjusted return on invested capital for fiscal year 2011.
- 6These disclosures are presented in Exhibit 99.1 and a related press release is attached as Exhibit 99.2.
- 7The company is using non-GAAP financial measures, with reconciliations provided.