With 18 lodging brands our portfolio power allows us to meet the development strategies of individual owners and franchisees and propel distribution and growth. By emphasizing brand distinction under the Marriott International umbrella, guests can stay with us even as their travel needs and budgets change.

Our flagship brand, Marriott Hotels & Resorts, continues to broaden its leadership and distribution around the world while changing to meet new customer expectations. New service initiatives and a marketing campaign will be introduced in 2013. The new lobby concept, already available in more than 200 hotels, should be found everywhere by 2015.

Our luxury brands are thriving with a new Ritz-Carlton in Vienna, Austria and the star-studded opening of the JW Marriott Marquis Dubai, the tallest hotel in the world. EDITION, our newest luxury lifestyle brand, combines an energetic atmosphere, attitude and style, showcasing some of the best dining and entertainment options. Sophisticated public spaces, finishes, design and details serve the experience, instead of driving it. The EDITION London is scheduled to open in 2013. Other EDITION hotels are planned for Los Angeles, Calif.; New York, N.Y.; Miami Beach, Fla.; Abu Dhabi in the United Arab Emirates; Sanya, China; Gurgaon, India; and Bangkok, Thailand.

Our acquisition of the Gaylord brand and hotel management company in 2012 adds fuel to our already leading group and meeting portfolio. These incredible hotels bring a fresh, new focus on entertainment, lots of great opportunities to surprise and delight our guests, and enhance our leadership in the major meeting market. Gaylord should benefit from Marriott’s strong reservation system, sales organization, frequent traveler program, and back-of-the-house systems.