VISION:to be the world’s leading provider of hospitality services. Marriott International, Inc. is a worldwide hospitality leader. We offer the most comprehensive portfolio  of hospitality brands and businesses in the industry, with nearly 2,600 operating units in 65 countries  and territories. Today, Marriott operates and franchises approximately 436,000 rooms across 18 distinct lodging, vacation ownership and corporate housing brands to meet the needs and tastes of any traveler. Our senior living brands serve over 25,000 residents in communities across the United States. Our distribution business provides food and related products to hotels and some of the largest restaurant chains in the world. Our brands are leaders in their respective segments and enjoy a high level of customer and owner preference. Marriott’s considerable competitive advantages – a full range of brands and services, expanding worldwide distribution and commitment to high-quality growth – allow us to provide our customers with world-class service and comfort wherever they go. Marriott has grown tremendously over the past decade. Our basic values and principles, however, have remained the same for 75 years: concern for our associates, hands-on management, and a tireless commitment  to excellence. Located in the heart of London, the Renaissance London Chancery Court Hotel offers both classic style and contemporary amenities in a meticulously restored Edwardian setting. CONTENTS [1] Financial Highlights [2] Brand Overview [6] Executive Letter [10] Our “Spirit to Serve” Is Stronger Than Ever [11] Financial Review [21] Financial Statements [25] Notes to Financial Statements [40] Selected Historical  Financial Data [41] Management’s Report  [41] Report of Independent Public Accountants  [42] Directors and Officers  [43] Corporate Information 