Marriott International Inc Class A
MAR: XNAS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$461.00 | Tvs | Dpstpwp |
Marriott’s Demand Set To Increase Further in 2023, Aided by Industry Tailwinds; Shares Fairly Valued
Narrow-moat Marriott's fourth-quarter revenue per available room, or revPAR, improved again to 107% of 2019's level from 105% in the prior quarter. And the hotelier expects further growth in 2023, with revPAR guided for a 6%-11% lift, harmonizing with our 8% estimate. We don't plan to materially alter our $180 fair value estimate, leaving shares appropriately valued.