The ratings on Marriott International Inc. reflect its above-average business profile and moderate financial profile. Marriott is a leader in the hospitality industry in brand strength and diversity, as well as management depth, continuity, and experience. Its lodging group has expanded to more than 2,000 hotels and over 373,000 rooms globally. In addition to geographic diversity, the company has 10 different brands it can offer to prospective owners and franchisees in various markets. The company derives most of its cash flow from long-term management and franchise contracts. This income stream is expected to provide relative stability in a cyclical downturn. In addition, Marriott generally does not own the properties that it manages and franchises, reducing the company's exposure to a
