BYP11-4 Marriott Corporation split into two companies: Host Marriott Corporation
and Marriott International. Host Marriott retained ownership of the corporation's vast
hotel and other properties, while Marriott International, rather than owning hotels,
managed them. The purpose of this split was to free Marriott International from the
"baggage" associated with Host Marriott, thus allowing it to be more aggressive in its
pursuit of growth. The following information (in millions) is provided for each
corporation for their first full year operating as independent companies.
(a) The two companies were split by the issuance of shares of Marriott International to all shareholders of the previous combined company. Discuss the nature of this transaction.
This question was answered on: Sep 16, 2020
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