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Marriott: Press Release Issued On October 28, 2015 Exhibit

The following excerpt is from the company's SEC filing.

Exhibit 99

CONTACT:

Tom Marder

(301) 380-2553

thomas.marder@marriott.com

MARRIOTT INTERNATIONAL REPORTS THIRD QUARTER 2015 RESULTS

HIGHLIGHTS

Third quarter diluted EPS totaled $0.78, a 20 percent increase over prior year results;

On a constant dollar basis, worldwide comparable systemwide RevPAR rose 4.5 percent in the third quarter;

North American comparable systemwide constant dollar RevPAR rose 4.2

Marriott repurchased 9.8 million shares of the company’s common stock for $702 million during the third quarter. Year-to-date through October 28, the company repurchased 25.1 million shares for $1.9 billion;

The company added over 10,000 rooms during the third quarter, including roughly 3,800 rooms in markets outside the U.S. and nearly 2,000 rooms converted from competitor brands;

At the end of the third quarter, the company’s worldwide development pipeline increased to more than 260,000 rooms, including roughly 20,000 rooms approved, but not yet subject to signed contracts;

The company’s adjusted operating income margin increased to 49 percent compared to 43 percent in the year-ago quarter;

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) totaled $431 million in the quarter, a 10 percent increase over third quarter 2014 adjusted EBITDA.

BETHESDA, MD - October 28, 2015 - Marriott International, Inc. (NASDAQ: MAR) today reported third quarter 2015 results.

Third quarter 2015 net income totaled $210 million, a 9 percent increase over 2014 third quarter net income. Diluted earnings per share (EPS) in the third quarter totaled $0.78, a 20 percent

increase from diluted EPS in the year-ago quarter. On July 29, 2015, the company forecasted third quarter diluted EPS of $0.72 to $0.76.

Arne M. Sorenson, president and chief executive officer of Marriott International, said, “Our company posted solid performance in the third quarter. North American systemwide RevPAR rose over 4 percent despite the impact of unfavorable holiday shifts on our group business compared to the year-ago quarter. Our hotels are full with occupancy at nearly 78 percent allowing us to continue to raise rates and reduce lower-rated business to drive RevPAR.

“Our global development pipeline continues to increase, reaching more than 260,000 rooms at the end of the quarter as owner and franchisees continue to choose our brands. Combined, our pipeline and open rooms exceed one million rooms worldwide. Recently unveiled in the U.S., Moxy and AC Hotels have a combined five hotels open and 82 hotels signed or approved domestically. Our newest brand, Delta Hotels, expects to open its first U.S. property later this year, a conversion from a competitor’s brand.

“Our asset-light business model continues to deliver significant profit growth with modest capital requirements, yielding outstanding return to shareholders. For the full year 2015, we expect to return more than $2.25 billion to shareholders through dividends and share repurchases, a record which would bring our total return to shareholders to nearly $8 billion over the last 5 years. Over the last 12 months, our return on invested capital has totaled 47 percent.

“For 2016, we expect systemwide constant dollar RevPAR will increase 4 to 6 percent in North America, outside North America and worldwide. Our group bookings for our North American full-service hotels for 2016 are up more than 7 percent with about 75 percent of expected group business volume booked thus far.

“Given our strong development pipeline, we anticipate our number of rooms will increase 7 to 8 percent, gross, in 2015, including the 9,600 rooms from the Delta acquisition, accelerating to 8 percent, gross, in 2016. Nearly 40 percent of our more than 260,000 room pipeline is already under construction.”

For the 2015 third quarter, RevPAR for worldwide comparable systemwide properties increased 4.5 percent (a 2.2 percent increase using actual dollars).

In North America, comparable systemwide RevPAR increased 4.2 percent (a 3.7 percent increase using actual dollars) in the third quarter of 2015, including a 4.2 percent increase (a 3.6 percent increase in actual dollars) in average daily rate. RevPAR for comparable systemwide North American full-service hotels (including

Marriott Hotels

The Ritz-Carlton,

Renaissance Hotels, Gaylord Hotels

Autograph Collection Hotels

) increased 3.7 percent (a 3.0 percent increase in actual dollars) with a 3.2 percent increase (a 2.5 percent increase in actual dollars) in average daily rate. RevPAR for comparable systemwide North American limited-service hotels (including

Courtyard, Residence Inn, SpringHill Suites, TownePlace

Fairfield Inn & Suites

) increased 4.6 percent (a 4.1 percent increase in actual dollars) in the third quarter with a 4.8 percent increase (a 4.3 percent increase in actual dollars) in average daily rate.

International comparable systemwide RevPAR rose 6.2 percent (a 4.0 percent decline using actual dollars) in the third quarter. International RevPAR growth was helped during the quarter by the earlier start of Ramadan and very strong demand in Europe.

Marriott added 68 new properties (10,253 rooms) to its worldwide lodging portfolio in the 2015 third quarter, including Mandapa, A Ritz-Carlton Reserve in Indonesia and The Hotel Lucerne, Autograph Collection in Switzerland. Twenty-one properties (2,596 rooms) exited the system during the quarter. At quarter-end, the company’s lodging system encompassed 4,364 properties and timeshare resorts for a total of 750,000 rooms.

The company’s worldwide development pipeline totaled 1,591 properties with more than 260,000 rooms at quarter-end, including nearly 600 properties with roughly 95,000 rooms under construction and over 100 properties with approximately 20,000 rooms approved for development, but not yet subject to signed contracts.

MARRIOTT REVENUES totaled approximately $3.6 billion in the 2015 third quarter compared to revenues of nearly $3.5 billion for the third quarter of 2014. Base management and franchise fees totaled $397 million compared to $381 million in the year-ago quarter, an increase of 4 percent. The year-over-year increase largely reflects higher RevPAR and new unit growth partially offset by $4 million of unfavorable foreign exchange. In addition, the company

recognized $2 million of deferred base management fees related to the performance of a limited-service portfolio and $8 million of relicensing fees. In the year-ago quarter, the company recognized $6 million of deferred base management fees related to the performance of a limited-service portfolio, $9 million of deferred base management fees related to an owner’s sale of a Courtyard portfolio and $9 million of relicensing fees.

Third quarter worldwide incentive management fees totaled $68 million, a 1 percent increase compared to the year-ago quarter primarily due to higher managed hotel RevPAR and house profit margins largely offset by $4 million of unfavorable foreign exchange. In the 2015 third quarter, 64 percent of worldwide company-managed hotels earned incentive management fees compared to 56 percent in the year-ago quarter.

On July 29, the company estimated total fee revenue for the third quarter would total $470 million to $480 million. Actual total fee revenue of $465 million in the quarter was modestly lower than estimated reflecting lower than expected RevPAR growth, particularly in North America and the Middle East and Africa region, renovations, and delays in new unit openings.

Worldwide comparable company-operated house profit margins increased 50 basis points in the third quarter with higher room rates, improved productivity, and lower food and utility costs. House profit margins for comparable company-operated properties outside North America increased 60 basis points and North American comparable company-operated house profit margins increased 40 basis points from the year-ago quarter.

OWNED, LEASED, AND OTHER REVENUE, NET OF DIRECT EXPENSES, totaled $54 million, compared to $55 million in the year-ago quarter. The year-over-year decrease largely reflects lower termination fees and lower results from one North American full-service hotel under renovation largely offset by higher credit card branding fees and lower pre-opening costs.

DEPRECIATION, AMORTIZATION, and OTHER expenses totaled $31 million in the 2015 third quarter compared to $33 million in the year-ago quarter.

GENERAL, ADMINISTRATIVE, and OTHER expenses for the 2015 third quarter totaled $149 million compared to $172 million in the year-ago quarter. Expenses declined in the quarter

largely due to lower compensation expense, lower legal costs and net favorable foreign exchange largely due to the devaluation of the Venezuelan Bolivar in the year-ago quarter.

On July 29, the company estimated general, administrative, and other expenses for the third quarter would total approximately $165 million. Actual expenses in the quarter were lower than expected largely due to general admin savings and lower transition expenses relating to the Delta acquisition, as well as timing.

INTEREST EXPENSE, NET increased $17 million in the third quarter. Interest expense for the third quarter increased $14 million largely due to lower capitalized interest expense and higher interest expense associated with a new debt issuance. Interest income declined $3 million largely due to a year-over-year decrease in loans receivable.

EQUITY IN EARNINGS decreased $4 million in the third quarter to $8 million. Results decreased largely due to deferred tax true-ups due to tax law changes recorded in the year-ago...


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