<SEC-DOCUMENT>0001193125-23-106485.txt : 20230525
<SEC-HEADER>0001193125-23-106485.hdr.sgml : 20230525
<ACCEPTANCE-DATETIME>20230419162552
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-23-106485
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230419

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MARRIOTT INTERNATIONAL INC /MD/
		CENTRAL INDEX KEY:			0001048286
		STANDARD INDUSTRIAL CLASSIFICATION:	HOTELS & MOTELS [7011]
		IRS NUMBER:				522055918
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		7750 WISCONSIN AVENUE
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814
		BUSINESS PHONE:		3013803000

	MAIL ADDRESS:	
		STREET 1:		7750 WISCONSIN AVENUE
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20814

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW MARRIOTT MI INC
		DATE OF NAME CHANGE:	19971023
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>CORRESP</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="23%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">


<IMG SRC="g471983g0419065557897.jpg" ALT="LOGO">
</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Marriott International, Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">7750 Wisconsin
Avenue, Bethesda, MD 20814</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">(301) <FONT STYLE="white-space:nowrap">380-3000</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April&nbsp;19, 2023 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Isaac Esquivel </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Staff Accountant </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation
Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F St. NE </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, DC 20549 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Marriott International, Inc. </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the fiscal year ended December&nbsp;31, 2022 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Form <FONT STYLE="white-space:nowrap">8-K</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Filed February&nbsp;14, 2023 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">File No.: <FONT STYLE="white-space:nowrap">001-13881</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr.&nbsp;Esquivel: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On behalf of Marriott
International, Inc. (&#147;Marriott,&#148; &#147;we&#148; or &#147;our&#148;), this responds to your letter dated April&nbsp;17, 2023 to Kathleen K. Oberg, Chief Financial Officer and Executive Vice President, Development, which sets forth the
comments of the Staff of the Division of Corporation Finance of the Securities and Exchange Commission (the &#147;Staff&#148;) on Marriott&#146;s Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed on February&nbsp;14, 2023. The Staff&#146;s
comment is set forth below, followed by our related response. If you have further questions, we would be pleased to discuss the response with you at your convenience. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Form <FONT STYLE="white-space:nowrap">8-K</FONT> Filed February&nbsp;14, 2023 </U></I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Exhibit 99 </U></I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Company Outlook page 5
</U></I></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note you provide ranges for Adjusted EPS&#151;diluted for your first quarter 2023 and full-year fiscal
2023 guidance. However, you did not provide reconciliations to the most directly comparable GAAP measures. In future filings, please provide the reconciliations required by Item 10(e)(1)(i) of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT>
To the extent you are relying on the &#147;unreasonable efforts&#148; exception in Item 10(e)(1)(i)(B), revise future filings to disclose this fact and identify any information that is unavailable and its probable significance. Reference is made to
Question 102.10 of the Division&#146;s Compliance and Disclosure Interpretations for <FONT STYLE="white-space:nowrap">Non-GAAP</FONT> Financial Measures.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Response to Comment #1 </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Marriott
respectfully advises the Staff that it is relying on the &#147;unreasonable efforts&#148; exception in Item 10(e)(1)(i)(B) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> to not provide reconciliations to the most directly comparable GAAP
measure for the Adjusted EPS&#151;diluted guidance for its first quarter 2023 and full-year fiscal 2023 included on page 5 of Exhibit 99. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Isaac Esquivel </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April&nbsp;19, 2023 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page 2 </P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">When we provided ranges for the Adjusted EPS &#150; diluted metrics on page 5 of Exhibit 99,
we footnoted this disclosure with the following footnote #3: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;<SUP STYLE="font-size:75%; vertical-align:top">3 </SUP>Adjusted EBITDA
and Adjusted EPS &#150; diluted for first quarter and full year 2023 do not include cost reimbursement revenue, reimbursed expenses, restructuring, merger-related charges, and other expenses, or any asset sales that may occur during the year, each
of which the company cannot forecast with sufficient accuracy, and which may be significant.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Marriott believes this footnote
satisfies the requirements of Item 10(e)(1)(i)(B) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> as it explains that Marriott cannot &#147;forecast with sufficient accuracy&#148; certain items. It also identifies what information is
unavailable (&#147;cost reimbursement revenue, reimbursed expenses, restructuring, merger-related charges, and other expenses, or any asset sales that may occur during the year, each of which the company cannot forecast with sufficient
accuracy&#148;) and its probable significance (&#147;which may be significant&#148;). However, Marriott will revise future filings to make clear that it is relying on the &#147;unreasonable efforts&#148; exception by adding the underlined text to
the relevant disclosure: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">&#147;<SUP STYLE="font-size:75%; vertical-align:top">3 </SUP>Adjusted EBITDA and Adjusted EPS &#150; diluted for
first quarter and full year 2023 do not include cost reimbursement revenue, reimbursed expenses, restructuring, merger-related charges, and other expenses, or any asset sales that may occur during the year, each of which the company cannot forecast
with sufficient accuracy <U>and without unreasonable efforts</U>, and which may be significant.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;* </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We acknowledge that Marriott is responsible for the accuracy and adequacy of its disclosures, notwithstanding any review, comments, action or
absence of action by the Staff. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Please contact me at (301) <FONT STYLE="white-space:nowrap">380-4973</FONT> if you have any further
questions or would like to discuss our response. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Sincerely,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">/s/ Kathleen K. Oberg</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Kathleen K. Oberg</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Chief Financial Officer and Executive Vice President, Development</TD></TR>
</TABLE></DIV>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g471983g0419065557897.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g471983g0419065557897.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  T *4# 2(  A$! Q$!_\0
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MFJ7B-W/B2\,V>)2!G^[V_3%=!XBU[3)_#ZV=CC,FWY ,; .>:&[@E89\/?\
MCYO?]Q?YUS]NBR>)H4=0RM=*"#W&X5T'P]_X^;S_ '!_.L"T_P"1I@_Z^T_]
M#%+H@ZL]:$:+C"*,=,#I7D>D1I+XBM4=0RF=00>_(KUZO)-$_P"1EL_^OA?_
M $(54A1ZGK(11@A0,=.*\FT/_D9;/_KNO\Q7K=>2:'_R,MG_ -=U_F*)!'J7
M/&CL_B656/"*BCZ;0?ZUUMY$G_""!-HVBT1L>^ :YCQQ:O#KOV@J=DR*0>V0
M,8_2M:Y\06#^"U@693<&!8O+[Y& :75AT1E^ G9=<D0'Y6@;(_$5E7/_ "-$
M_P#U]M_Z&:VO -J[:E/=8/EI%LS[DC_ UB7/_(T3_P#7VW_H9I="NIZ=K?\
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' HHHH __V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
