secwatch.observer — SEC 8-K summary
======================================

Issuer:     MARRIOTT INTERNATIONAL INC /MD/ (MAR)
CIK:        0001048286
Form:       8-K
Filed at:   2023-09-27T23:59:59+00:00
Accession:  0001628280-23-033068
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marriott targets $10.10-$11.45 adj. EPS by 2025 at analyst day; outlines $11.7-$13.6B shareholder returns
--------------------------------------------------------------------------------

- Net rooms to grow 5.0-5.5% CAGR (230k-270k additions), reaching ~1.8M rooms by 2025.
- Adjusted diluted EPS CAGR of 10-15% to $10.10-$11.45 in 2025; 2023 outlook reiterated.
- Adjusted EBITDA target of $5.2-$5.7B by 2025, implying 7-10% two-year CAGR.
- Plans $1.9-$2.0B dividends (25% payout) and $9.8-$11.6B in buybacks over three years.
- Growth priorities: midscale (City Express, StudioRes, Four Points Express), extended stay, luxury (225-pipeline), conversions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1048286/000162828023033068/0001628280-23-033068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1048286/000162828023033068/mar-20230927.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-033068

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer