PART A- INTRODUCTION Sheraton is Starwood’s ’flagship’ brand‚ providing luxury hotel and resort accommodation. The origins of Sheraton date back to 1937 when the company’s founders‚ Ernest Henderson and Robert Moore‚ acquired their first hotel in Springfield‚ Massachusetts. Sheraton is Part of Starwood Hotels & Resorts Worldwide‚ Inc. Starwood Hotels & Resorts Worldwide‚ Inc. is one of the leading hotel and leisure companies in the world with 1‚169 properties in nearly 100 countries and 171
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divisions of Marriott? Answer: The cost of capital for lodging is 9.2% and the cost of capital for restaurants is 13.1% Calculation: WACC = (1-t) * rd * (D/V) + re* (E/V) Where: D= market value of DEBT re = aftertax cost of equity E = market value of EQUITY V = D+E rd = pretax cost of debt t = tax rate To calculate the formula above‚ we need to determine each component Tax rate (t) 56% --> calculated before LODGING Step 1: Calculate unlevered beta using similar companies Hotel Beta (β)
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Marriott Corporation: The Cost of Capital Executive Summary J. Willard Marriott started Marriott Corporation in 1927 with a root beer stand‚ expanding it into a leading lodging and food service company with sales of over $6 billion by 1987. At the time‚ Marriott had three main lines of business‚ lodging‚ contract services and restaurants‚ with lodging generating about 51% of company’s profits. The four key elements of Marriott’s financial strategy were managing hotel assets rather than owning‚
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HBR Case #1 Marriott Corporation: The Cost of Capital Group 16—Tutorial Mon 11:30am Group members LIU Ying‚ Chloe | 1155019350 | LUO Yingying‚ Irika | 1155020931 | TIAN Tian‚ Sarah | 1155019114 | WU Jiajie‚ Jesse | 1155019061 | 17 September 2012 Executive Summary By 1987‚ Marriott Corporation had grown into a large multi-dimensional company with over $5 billion assets in lodging‚ contract services and restaurants. The company enjoyed fast growth in both sales and assets at around
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| | | | | | | |BACKGROUND VERIFICATION REPORT - SUPPLEMENTARY | | | | | | | |
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Perceptions of Reality in The Matrix Student: Jyl Alampay Student Number: 250431312 Section: 002 Due Date: December 02/09 The question of ‘reality’ has always intrigued people throughout the world. It has been perceived as tangible and exact but at the same time intensely vulnerable. The frailties of ‘reality’ have been exposed by the many differing ways in which it can be perceived. These differences of perception can be attributed to factors such as age‚ sex‚ nationality‚ religion‚ and
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Purchase a premier hotel brands internationally: Change to Marriott brand or Maintain brand as an operating subsidiary? Why to rebrand - • Name might not be doing justice to the overall experience. Making such a change is especially important when a hospitality property has lost effectiveness in serving its market. The previous brand might not be providing service so there can be misperception about the Marriott brand • Rebranding might help to reposition the hotel and properly brand it.
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a careful analysis ensures Reebok’s continued growth and profitability in an environment with strong competitive forces‚ weak economies‚ and nine years of flat growth. The analysis summary appears below with the conclusion. EFE: External Factor Evaluation Matrix The EFE indicates there are significant revenue opportunities in meeting the needs of aging leisure-oriented Baby-boomers (BBs)‚ and the young Generation-Y (GY)‚ who desire fashionable sportswear and are Internet savvy. Two significant
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Case 1- Marriott Corporation: The Cost of Capital Some preliminary questions: 1. What do you think about Marriott’s policy of repurchasing shares? Repurchase whenever stock price < warranted equity value Does this mean the market is inefficient? 2. Why does Marriott manage rather than own hotel assets? Finding limited partners on a hotel project is equivalent to selling private equity in the project Is there any reason to
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A HOTEL PRACTICUM REPORT ON IVORY HOTEL AND SUITES Buntun Highway‚ Tuguegarao City‚ Cagayan‚ Philippines April 23‚ 2013 to May 18‚ 2013 In partial fulfillment of the requirements for the course HIM 71 Hotel Practicum (OJT) For the degree in Bachelor of Science in Hospitality Industry Management COLLEGE OF HOSPITALITY INDUSTRY MANAGEMENT Cagayan State University Andrews Campus‚ Tuguegarao City SUBMITTED TO: CRISTINA S. SORIANO SUBMITTED BY: ANDREA S. LACAMBRA SUBMITTED
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