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Global reach. Personal service. In pictures, our Annual Report tells the story of how Marriott International has become the world's leading lodging company — not just through its diverse portfolio of 3,000 lodging properties, representing 19 brands in almost 70 countries and territories — but by training and engaging the very best employees to deliver exceptional service. In the end, success depends on the guest experience and hospitality delivered by the 300,000 employees at our managed and franchised hotels worldwide. This legendary service is the foundation of Marriott International and owes its success to our unique culture, which values opportunity and respects the goals and aspirations of our people. This, combined with a solid management team and our tested business model of managing and franchising hotels owned by others, has provided us with a significant competitive advantage. We have stayed true to these pillars even as we continue to innovate. It's why we are able to report another solid year in 2007. Our worldwide systemwide Revenue Per Available Room (RevPAR) rose 6.5 percent in 2007, driven by strong demand from our best corporate customers and other business travelers. More than 20 percent of our fee revenue derives from properties located outside North America. With our owners and franchisees, we added more than 200 properties to our system. Full year incentive management fees totaled a record-breaking $369 million in 2007, up 31 percent over the prior year. We generated diluted earnings per share (EPS) from continuing operations of $1.75 for 2007, an increase of 6 percent, as we and our hotel owners improved profit margins in our hotels by more than 1.5 percentage points. These strong improvements in hotel-level profitability resulted from efficiencies achieved through technology and workforce effectiveness. Net cash provided by operating activities totaled $778 million in 2007. We're committed to delivering value to shareholders and in 2007 we returned nearly $1.9 billion to our investors through share repurchases and dividends. The company repurchased 41 million shares for $1.8 billion in 2007, and at year-end 2007 we had 33 million shares remaining in buybacks authorized by our Board. Return on invested capital for 2007 topped 25 percent, nearly double our performance just four years ago. > Back to top of page
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