MARRIOTT INTERNATIONAL, INC. (NASDAQ:MAR) Files An 8-K Regulation FD DisclosureItem 7.01
Regulation FD Disclosure.
On November 30, 2018, Marriott International, Inc. (the “Company”) issued a press release providing important information regarding a cybersecurity incident. A copy of the press release is attached hereto as Exhibit 99 and is incorporated by reference herein.
Answers to certain frequently asked questions related to the cybersecurity incident follow.
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1. |
What will be the financial impact to the Company from this cybersecurity incident? |
It is premature to estimate the financial impact to the Company. The Company carries insurance, including cyber insurance, commensurate with its size and the nature of its operations. The Company is working with its insurance carriers to assess coverage.
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2. |
How will the Company disclose the costs related to this incident in its financial statements and public filings? |
The Company expects it will separately disclose costs specifically related to this incident, as well as any corresponding insurance reimbursements. The timing of recognition of related costs may differ from the timing of recognition of any insurance reimbursement.
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3. |
What will be the impact to the Company’s long-term financial health from this incident? |
The Company does not believe this incident will impact its long-term financial health. As a manager and franchisor of leading lodging brands, the Company generates meaningful cash flow each year with only modest capital investment needed to grow the business. The Company remains committed to maintaining its investment grade credit rating.
The information in this Form 8-K, including Exhibit 99, is being furnished and shall not be deemed incorporated by reference into any other filing with the Securities and Exchange Commission.
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Item 7.01 |
Financial Statements and Exhibits. |
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(d) Exhibits. The Company is furnishing the following exhibit with this report: |
MARRIOTT INTERNATIONAL INC /MD/ ExhibitEX-99 2 a2018ex99.htm EXHIBIT 99 Exhibit Exhibit 99Marriott Announces Starwood Guest Reservation Database Security IncidentBETHESDA,…To view the full exhibit click here
About MARRIOTT INTERNATIONAL, INC. (NASDAQ:MAR)
Marriott International, Inc. is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It operates through three segments: North American Full-Service, which includes brands, such as The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection Hotels, Marriott Hotels, Delta Hotels and Resorts, and Renaissance Hotels located in the United States and Canada; North American Limited-Service, which includes brands, such as AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites properties and Fairfield Inn & Suites located in the United States and Canada, and International, which includes brands, such as Bulgari Hotels & Resorts, Protea Hotels and Moxy Hotels located outside the United States and Canada. Its loyalty programs include The Ritz-Carlton Rewards and Starwood Preferred Guest.
