Analysis of Reportable Segments
Marriott International Inc. operates in 4 segments: North American Full-Service; North American Limited-Service; Asia Pacific; and Other International.
Segment Profit Margin
Marriott International Inc., profit margin by reportable segment
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| North American Full-Service | 8.53% | 8.82% | 8.27% | 7.49% | 6.36% |
| North American Limited-Service | 25.22% | 24.43% | 20.39% | 19.60% | 20.39% |
| Asia Pacific | 31.03% | 40.79% | 25.67% | 23.13% | 18.99% |
| Other International | 18.47% | 25.15% | 14.52% | 12.32% | 11.52% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | North American Full-Service | North American Full-Service segment profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level. |
| North American Limited-Service | North American Limited-Service segment profit margin ratio improved from 2017 to 2018 and from 2018 to 2019. | |
| Asia Pacific | Asia Pacific segment profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level. | |
| Other International | Other International segment profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level. |
Segment Profit Margin: North American Full-Service
Marriott International Inc.; North American Full-Service; segment profit margin calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Profits | 1,148) | 1,153) | 1,182) | 777) | 561) |
| Revenues | 13,455) | 13,072) | 14,300) | 10,376) | 8,825) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 8.53% | 8.82% | 8.27% | 7.49% | 6.36% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment profit margin = 100 × Profits ÷ Revenues
= 100 × 1,148 ÷ 13,455 = 8.53%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | North American Full-Service | North American Full-Service segment profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level. |
Segment Profit Margin: North American Limited-Service
Marriott International Inc.; North American Limited-Service; segment profit margin calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Profits | 852) | 786) | 816) | 698) | 651) |
| Revenues | 3,378) | 3,217) | 4,002) | 3,561) | 3,193) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 25.22% | 24.43% | 20.39% | 19.60% | 20.39% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment profit margin = 100 × Profits ÷ Revenues
= 100 × 852 ÷ 3,378 = 25.22%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | North American Limited-Service | North American Limited-Service segment profit margin ratio improved from 2017 to 2018 and from 2018 to 2019. |
Segment Profit Margin: Asia Pacific
Marriott International Inc.; Asia Pacific; segment profit margin calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Profits | 369) | 456) | 345) | 176) | 98) |
| Revenues | 1,189) | 1,118) | 1,344) | 761) | 516) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 31.03% | 40.79% | 25.67% | 23.13% | 18.99% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment profit margin = 100 × Profits ÷ Revenues
= 100 × 369 ÷ 1,189 = 31.03%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Asia Pacific | Asia Pacific segment profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level. |
Segment Profit Margin: Other International
Marriott International Inc.; Other International; segment profit margin calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Profits | 435) | 570) | 386) | 231) | 194) |
| Revenues | 2,355) | 2,266) | 2,658) | 1,875) | 1,684) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 18.47% | 25.15% | 14.52% | 12.32% | 11.52% |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment profit margin = 100 × Profits ÷ Revenues
= 100 × 435 ÷ 2,355 = 18.47%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Other International | Other International segment profit margin ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level. |
Segment Capital Expenditures to Depreciation
Marriott International Inc., capital expenditures to depreciation by reportable segment
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| North American Full-Service | 1.36 | 3.54 | 0.19 | 0.52 | 2.18 |
| North American Limited-Service | 0.89 | 1.00 | 0.38 | 0.30 | 0.33 |
| Asia Pacific | 0.08 | 0.23 | 0.33 | 0.08 | 2.20 |
| Other International | 2.31 | 0.57 | 0.48 | 0.84 | 2.14 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | North American Full-Service | North American Full-Service segment capital expenditures to depreciation ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level. |
| North American Limited-Service | North American Limited-Service segment capital expenditures to depreciation ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. | |
| Asia Pacific | Asia Pacific segment capital expenditures to depreciation ratio deteriorated from 2017 to 2018 and from 2018 to 2019. | |
| Other International | Other International segment capital expenditures to depreciation ratio improved from 2017 to 2018 and from 2018 to 2019. |
Segment Capital Expenditures to Depreciation: North American Full-Service
Marriott International Inc.; North American Full-Service; segment capital expenditures to depreciation calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 270) | 290) | 21) | 35) | 120) |
| Depreciation, amortization, and other | 199) | 82) | 111) | 67) | 55) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.36 | 3.54 | 0.19 | 0.52 | 2.18 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, amortization, and other
= 270 ÷ 199 = 1.36
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | North American Full-Service | North American Full-Service segment capital expenditures to depreciation ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019 not reaching 2017 level. |
Segment Capital Expenditures to Depreciation: North American Limited-Service
Marriott International Inc.; North American Limited-Service; segment capital expenditures to depreciation calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 17) | 15) | 10) | 7) | 7) |
| Depreciation, amortization, and other | 19) | 15) | 26) | 23) | 21) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.89 | 1.00 | 0.38 | 0.30 | 0.33 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, amortization, and other
= 17 ÷ 19 = 0.89
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | North American Limited-Service | North American Limited-Service segment capital expenditures to depreciation ratio improved from 2017 to 2018 but then slightly deteriorated from 2018 to 2019. |
Segment Capital Expenditures to Depreciation: Asia Pacific
Marriott International Inc.; Asia Pacific; segment capital expenditures to depreciation calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 2) | 6) | 12) | 1) | 11) |
| Depreciation, amortization, and other | 25) | 26) | 36) | 12) | 5) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.08 | 0.23 | 0.33 | 0.08 | 2.20 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, amortization, and other
= 2 ÷ 25 = 0.08
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Asia Pacific | Asia Pacific segment capital expenditures to depreciation ratio deteriorated from 2017 to 2018 and from 2018 to 2019. |
Segment Capital Expenditures to Depreciation: Other International
Marriott International Inc.; Other International; segment capital expenditures to depreciation calculation
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 164) | 40) | 42) | 38) | 75) |
| Depreciation, amortization, and other | 71) | 70) | 87) | 45) | 35) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 2.31 | 0.57 | 0.48 | 0.84 | 2.14 |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
1 2019 Calculation
Segment capital expenditures to depreciation = Capital expenditures ÷ Depreciation, amortization, and other
= 164 ÷ 71 = 2.31
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Other International | Other International segment capital expenditures to depreciation ratio improved from 2017 to 2018 and from 2018 to 2019. |
Revenues
Marriott International Inc., revenues by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| North American Full-Service | 13,455) | 13,072) | 14,300) | 10,376) | 8,825) |
| North American Limited-Service | 3,378) | 3,217) | 4,002) | 3,561) | 3,193) |
| Asia Pacific | 1,189) | 1,118) | 1,344) | 761) | 516) |
| Other International | 2,355) | 2,266) | 2,658) | 1,875) | 1,684) |
| Total segment | 20,377) | 19,673) | 22,304) | 16,573) | 14,218) |
| Unallocated corporate | 595) | 1,085) | 590) | 499) | 268) |
| Total | 20,972) | 20,758) | 22,894) | 17,072) | 14,486) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Profits
Marriott International Inc., profits by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| North American Full-Service | 1,148) | 1,153) | 1,182) | 777) | 561) |
| North American Limited-Service | 852) | 786) | 816) | 698) | 651) |
| Asia Pacific | 369) | 456) | 345) | 176) | 98) |
| Other International | 435) | 570) | 386) | 231) | 194) |
| Total segment | 2,804) | 2,965) | 2,729) | 1,882) | 1,504) |
| Unallocated corporate | (837) | (302) | 357) | (499) | (111) |
| Interest expense, net of interest income | (368) | (318) | (250) | (199) | (138) |
| Income taxes | (326) | (438) | (1,464) | (404) | (396) |
| Total | 1,273) | 1,907) | 1,372) | 780) | 859) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Depreciation, amortization, and other
Marriott International Inc., depreciation, amortization, and other by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| North American Full-Service | 199) | 82) | 111) | 67) | 55) |
| North American Limited-Service | 19) | 15) | 26) | 23) | 21) |
| Asia Pacific | 25) | 26) | 36) | 12) | 5) |
| Other International | 71) | 70) | 87) | 45) | 35) |
| Total segment | 314) | 193) | 260) | 147) | 116) |
| Unallocated corporate | 27) | 33) | 30) | 21) | 23) |
| Total | 341) | 226) | 290) | 168) | 139) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
Capital expenditures
Marriott International Inc., capital expenditures by reportable segment
US$ in millions
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
|---|---|---|---|---|---|
| North American Full-Service | 270) | 290) | 21) | 35) | 120) |
| North American Limited-Service | 17) | 15) | 10) | 7) | 7) |
| Asia Pacific | 2) | 6) | 12) | 1) | 11) |
| Other International | 164) | 40) | 42) | 38) | 75) |
| Total segment | 453) | 351) | 85) | 81) | 213) |
| Unallocated corporate | 200) | 205) | 155) | 118) | 92) |
| Total | 653) | 556) | 240) | 199) | 305) |
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).