Marriot Restructuring This is a case study on the restructuring plan of Marriot Corporation by splitting itself into two companies, namely, Marriot International and Host Marriot.
MARRIOTT RESTRUCTURING
A Written Analysis of a Case by Lloyd Ty
Brief Synopsis of Data
On October 5, 1992, Marriott Corporation announced their plan to restructure the company by splitting itself into two separate companies. The first of the two companies, Marriott International (MI), would manage and franchise over 700 hotels and motels. In addition, it would manage food and facilities for several thousand businesses, schools, retirement homes and health-care providers. On the other hand, Host Marriott (HM), …
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…a giant loophole which could surge both Marriotts back into prosperity. In wrapping up, stockholders have control (through the managers) of decisions that affect the profitability and risk of the firm and it is in their own best interests that they also reassure existing bondholders of their creditworthiness despite the lowered security rating. In the end, when all sides of the company are satisfied, it is the stockholders themselves who will feel the most benefit.
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