What is the overall weighted average cost of capital for Marriott Corporation? (Use a corporate tax rate of 34%). What type of investments would you value using Marriott’s WACC? Cost of debt：8.95%+1.3%=10.25% Cost of equity：8.95%+1.64*7.43%=21.14% 實際beta=1.11，根據exhibit 1，長期債務為24.99億美元，權益價值為35.64億美元(30元*118.8百萬股)，可以得出D/V=24.99/35.64=41%標的資本結構D/V=60%，所以必需做出調整。 V=D+E，D/V=41%，E/V=59% Beta of asset=(E/V)*beta of equity=0.59*1.11=0.655 Beta of equity=(V/E)*beta of asset=(1/0.4)*0.655=1.64 Risk free
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LOGO Organizational chart and international strategy of Toyota Group 8 Nguyen Thi Kieu Oanh Kieu Ngoc Linh 1 Contents 1 History of Toyota 2 Toyota’s organizational chart 3 Toyota’s international strategy 4 Q&A 2 LOGO History of Toyota Founded in 1937 Headquarters: Toyota‚ Aichi‚ Japan Products: Automobiles‚ luxury vehicles‚ commercial vehicles‚ engines‚ motorcycles Service: Banking‚ Financing‚ Leasing No. of employees: 338 875 (03/31/2014) 3 LOGO History of Toyota 1937: Toyota
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Marriott Corporation: The Cost of Capital T c=income taxes of 1987 / income before income taxes of 1987 = 175.9/398.9 = 44% Step 1:From the Exhibit 3 ß equity for each firm in this industry are below Marriot Corporation 1.11; Hilton Hotels Corporation .76 ; Holiday Corporation 1.35 La Quinta Motor Inns .89; Ramada Inns‚ Inc 1.36. Step 2: For each firm in the industry‚ to estimate bunlevered using the bequity estimate: bequity = [1 + (1-TC)Debt/Equity]bunlevered bunlevered of Marriot= 1.11/[1+(1-
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I. HOUSEKEEPING ORGANIZATION Objectives: • To be familiar in the organization of housekeeping. • To know the specific job or task of each position in the organization. • To know what job that fits based on the skills one possesses. Definition of Terms Assistant Housekeeper - The assistant housekeeper usually reports to the executive housekeeper. In hotels where an additional senior position of deputy housekeeper exists‚ the assistant housekeepers
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MARRIOTT INTERNATIONAL‚ INC. { PEST ANALYSIS } External Environment Analysis Every organization has analyzed its strength and weakness. Nevertheless‚ the external environment is also the important factor that affects the future of the organization. In the environment that we are living nowadays has changed all the time. Therefore‚ it has to analyze on the external factors. PEST Analysis is the tool and method to handle the marketing‚ which is one of the well-known methods to analyze the external
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Marriott Corporation Jacob Piquette Jingjin Cen Chen Huo Wenkao Wu Accurately Measuring Debt Capacity For Marriott Corporation While management was correct in some aspects of measuring debt capacity for Marriott Corporation‚ the method used to obtain the ratio of 6.64 did not include the debt from the previous repurchase‚ grossly overstating the ratio and leading to believe that Marriott Corporation had a large unsused portion of debt capacity. This is shown in Exhibit 5. After thorough analysis
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Análisis Caso Marriott Corporation: Costo de Capital En el caso se plantea que Marriott utiliza cuatro elementos en su Estrategia Financiera las cuales apuntan a un crecimiento objetivo. Por lo que‚ se pregunta‚ ¿Son consistentes estos elementos con su crecimiento objetivo?‚ y para ello se realiza el siguiente análisis. I. Análisis de los Elementos de Estrategia Financiera: Primero debemos identificar que el alto crecimiento que busca Marriott es igual a maximizar el valor de la empresa y para
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Analysis of Marriott International: A closer look Marriott International was founded on May 15‚ 1927 by J. Willard Marriott in Washington D.C. It started out as a root beer stand which grew into a chain of restaurants and hotels (Marriott International Inc.‚ 2013). Now Marriott International has around 3‚150 properties for lodging in the United States and 67 in other countries (Marriott International Inc‚ 2012). The Executive Chairman is Bill Marriott and the President and CEO is Arne Sorenson.
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Their reputation derives from the conduct of the Marriott associates who create this professional business environment on a day to day basis. The hotel industry can be a very unpredictable environment. Employees at the Marriott are confronted with situations on a daily that test their values‚ beliefs and judgments. The reputation of the Marriot is built upon the actions of their employees at these times. It is vital for each member of the Marriott staff to understand the legal and ethical responsibility
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Marriott corporation Group -1 Akasha.J Dhivya Priya.R Gayathri.P.A Sadhana.S Srikumaran.M.A Components of Marriott’s Financial Strategy Growth Objective: Is to become the preferred employer and provider in lodging‚ contract services and restaurants‚ and to be the most profitable company in the industry. 1. Manage rather than own hotel assets: Lowers accounting assets on the books thereby increasing the ROA. Sharing of risk that comes from the properties and provide Marriott to operate with
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