VALUATION OF ESTEE LAUDER

ABSTRACT

MARRIOTT INTERNATIONAL, INC. (MARRIOTT) IS A WORLDWIDE COMPANY THAT OPERATES, FRANCHISES, AND LICENSES A DIVERSE PORTFOLIO OF HOTELS, RESIDENTIAL PROPERTIES, TIMESHARES, AND OTHER LODGING OPTIONS ACROSS VARIOUS BRANDS, CATERING TO MULTIPLE PRICE LEVELS AND SERVICE STANDARDS. CURRENTLY, MARRIOTT OPERATES IN THE U.S. & CANADA SEGMENT AND THE INTERNATIONAL SEGMENT, INCLUDING EUROPE, THE MIDDLE EAST, AFRICA, ASIA PACIFIC, THE CARIBBEAN, AND LATIN AMERICA. THE MAJOR BUSINESS SEGMENT IS THE U.S. & CANADA, REPRESENTING 80% OF THE CONSOLIDATED NET SALES IN 2023. TO PIONEER THE DEVELOPMENT IN THE INDUSTRY, MARRIOTT HAS TO EXPAND ITS INTERNATIONAL OPERATIONS TO DIVERSIFY GEOGRAPHIC REVENUE STREAMS AND REDUCE DEPENDENCE ON THE U.S. & CANADA MARKETS. MAINTAINING ITS COMPETITIVE ADVANTAGE IS A CONSTANT CHALLENGE DUE TO THE INTENSE COMPETITION IN THE GLOBAL HOSPITALITY INDUSTRY AND THE SECTOR’S SENSITIVITY TO ECONOMIC, POLITICAL, AND SOCIAL CHANGES. UNDERSTANDING HOW THESE FACTORS AFFECT BOTH THE INDUSTRY AND MARRIOTT IS CRUCIAL FOR ACCURATELY ASSESSING MARRIOTT’S INTRINSIC VALUE AND ITS FUTURE POSITIONING. COMPARING THE INTRINSIC VALUE DERIVED FROM THREE VALUATION MODELS WITH MARRIOTT’S MARKET SHARE PRICE AS OF DECEMBER 31, 2023, WILL OFFER VALUABLE INSIGHTS FOR INVESTORS.