Marriott (MAR) Tops Q2 EPS by 11c

Third Quarter 2017

Fourth Quarter 2017

Full Year 2017

Total fee revenue1

$810 million to $825 million

$804 million to $849 million

$3,245 million to $3,305 million

Owned, leased and other revenue, net of direct expenses1

Approx. $75 million

Approx. $97 million

Approx. $355 million

Depreciation, amortization, and other expenses

Approx. $70 million

Approx. $73 million

Approx. $290 million

General, administrative, and other expenses

$215 million to $220 million

$229 million to $234 million

$880 million to $890 million

Operating income

$595 million to $615 million

$594 million to $644 million

$2,420 million to $2,490 million

Gains and other income

Approx. $0 million

Approx. $0 million

Approx. $25 million

Net interest expense2

Approx. $60 million

Approx. $67 million

Approx. $255 million

Equity in earnings (losses)

Approx. $5 million

Approx. $7 million

Approx. $35 million

Earnings per share3

$0.96 to $0.99

$0.96 to $1.05

$4.06 to $4.18

Tax rate4

33.0 percent

33.0 percent

30.5 percent