2006 Annual Report

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A Place to Recharge Marriott International offers nearly 90 spas around the world, including locations at The Ritz-Carlton, JW Marriott Hotels & Resorts, Marriott Hotels & Resorts, and Renaissance Hotels & Resorts. In settings ranging from mountain retreats to cosmopolitan centers to beachside resorts, these spas help guests achieve that elusive harmony of mind and body. Each spa reflects the regional flavor of its location, providing guests with signature treatments and distinctive sanctuaries to recharge and revitalize. Guests at Marriott Hotels & Resorts spas can bring the experience home with an exclusive line of personal care products available for purchase on ShopMarriott.com. ABOVE: Renaissance Mumbai Hotel & Convention Centre. RIGHT: The Ritz-Carlton, Jakarta 6 | MARRIOTT INTERNATIONAL, INC. <strong>2006</strong>
A Place to Let Go For many, leisure time is a precious commodity — every moment to be treasured and committed to memory. Marriott makes the leisure experience a pure pleasure — from initial planning to the moment of realization that this is what life is all about. With Marriott.com, the award-winning web site, visitors can search for the perfect getaway or vacation package, plan a wedding, create a honeymoon registry and track progress toward a desired vacation. Marriott fulfills the dream, with more than 135 resorts around the world, including 45 Marriott Vacation Club resorts in 29 exceptional destinations. Golf enthusiasts will find more than 70 hotels and resorts offering golf on-site. Marriott’s Waiohai Beach Club ® , Koloa in Kauai, Hawaii MARRIOTT INTERNATIONAL, INC. <strong>2006</strong> | 7
Page 1 and 2: MARRIOTT INTERNATIONAL, INC. 2006 A
Page 3 and 4: Our Brands The Ritz-Carlton ® Hote
Page 5 and 6: As the brand catering to the “enj
Page 7: A Place to Achieve At Marriott, we
Page 11 and 12: To Our Shareholders J.W. MARRIOTT,
Page 13 and 14: Risk Factors FORWARD-LOOKING STATEM
Page 15 and 16: ownership could prevent potential c
Page 17 and 18: Management’s Discussion and Analy
Page 19 and 20: eceipt in 2005, of a $10 million te
Page 21 and 22: “Accounting for Real Estate Time-
Page 23 and 24: everage and other revenue, and new
Page 25 and 26: Comparable Company- Comparable Oper
Page 27 and 28: 2006 COMPARED TO 2005 Across our No
Page 29 and 30: increase in base management and inc
Page 31 and 32: The table below details the impact
Page 33 and 34: production, our synthetic fuel prod
Page 35 and 36: Dividends. In April 2006, our Board
Page 37 and 38: previously deferred and recognize t
Page 39 and 40: Consolidated Statement of Income Fi
Page 41 and 42: Consolidated Statement of Cash Flow
Page 43 and 44: Notes to Consolidated Financial Sta
Page 45 and 46: “Other long-term assets” line i
Page 47 and 48: FIN 48, only tax positions that mee
Page 49 and 50: 3 | INCOME TAXES See the “Future
Page 51 and 52: weighted average remaining term was
Page 53 and 54: 7 | PROPERTY AND EQUIPMENT ($ in mi
Page 55 and 56: 2004 Dispositions We sold two lodgi
Page 57 and 58: At year-end 2006, $1,123 million of
Page 59 and 60:
the Series F Notes and Series G Not
Page 61 and 62:
Audit of Employee Stock Ownership P
Page 63 and 64:
Depreciation and Amortization ($ in
Page 65 and 66:
JWM Family Enterprises, L.P. JWM Fa
Page 67 and 68:
Selected Historical Financial Data
Page 69 and 70:
Non-GAAP Financial Measure Reconcil
Page 71 and 72:
Report of Independent Registered Pu
Page 73 and 74:
Board of Directors [BACK ROW, LEFT
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2006 Annual Report

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