Hotels & Motels: Global Group of Eight (G8) Industry Guide

Introduction 17

What is this report about? 17

Who is the target reader? 17

How to use this report 17

Definitions 17

Group of Eight (G8) Hotels & Motels 18

Industry Outlook 18

Hotels & Motels in Canada 22

Market Overview 22

Market Data 23

Market Segmentation 25

Market outlook 27

Five forces analysis 29

Leading companies 35

Macroeconomic indicators 40

Hotels & Motels in France 42

Market Overview 42

Market Data 43

Market Segmentation 45

Market outlook 47

Five forces analysis 49

Leading companies 56

Macroeconomic indicators 64

Hotels & Motels in Germany 66

Market Overview 66

Market Data 67

Market Segmentation 69

Market outlook 71

Five forces analysis 73

Leading companies 80

Macroeconomic indicators 92

Hotels & Motels in Italy 94

Market Overview 94

Market Data 95

Market Segmentation 97

Market outlook 99

Five forces analysis 101

Leading companies 108

Macroeconomic indicators 118

Hotels & Motels in Japan 120

Market Overview 120

Market Data 121

Market Segmentation 123

Market outlook 125

Five forces analysis 127

Leading companies 133

Macroeconomic indicators 141

Hotels & Motels in Russia 143

Market Overview 143

Market Data 144

Market Segmentation 146

Market outlook 148

Five forces analysis 150

Leading companies 156

Macroeconomic indicators 166

Hotels & Motels in The United Kingdom 168

Market Overview 168

Market Data 169

Market Segmentation 171

Market outlook 173

Five forces analysis 175

Leading companies 182

Macroeconomic indicators 192

Hotels & Motels in The United States 194

Market Overview 194

Market Data 195

Market Segmentation 197

Market outlook 199

Five forces analysis 201

Leading companies 207

Macroeconomic indicators 216

Appendix 218

Methodology 218

About MarketLine 219

LIST OF TABLES

Table 1: G8 hotels & motels industry, revenue($bn), 2010-19 18

Table 2: G8 hotels & motels industry, revenue by country ($bn), 2010-14 20

Table 3: G8 hotels & motels industry forecast, revenue by country ($bn), 2014-19 21

Table 4: Canada hotels & motels industry value: $ billion, 201014 23

Table 5: Canada hotels & motels industry volume: establishments, 201014 24

Table 6: Canada hotels & motels industry category segmentation: $ billion, 2014 25

Table 7: Canada hotels & motels industry geography segmentation: $ billion, 2014 26

Table 8: Canada hotels & motels industry value forecast: $ billion, 201419 27

Table 9: Canada hotels & motels industry volume forecast: establishments, 201419 28

Table 10: Fairmont Raffles Hotels International: key facts 35

Table 11: Four Seasons Hotels Inc: key facts 36

Table 12: Starwood Hotels & Resorts Worldwide, Inc.: key facts 37

Table 13: Starwood Hotels & Resorts Worldwide, Inc.: key financials ($) 37

Table 14: Starwood Hotels & Resorts Worldwide, Inc.: key financial ratios 38

Table 15: Westmont Hospitality Group, Inc.: key facts 39

Table 16: Canada size of population (million), 201014 40

Table 17: Canada gdp (constant 2005 prices, $ billion), 201014 40

Table 18: Canada gdp (current prices, $ billion), 201014 40

Table 19: Canada inflation, 201014 41

Table 20: Canada consumer price index (absolute), 201014 41

Table 21: Canada exchange rate, 201014 41

Table 22: France hotels & motels industry value: $ billion, 201014 43

Table 23: France hotels & motels industry volume: establishments, 201014 44

Table 24: France hotels & motels industry category segmentation: $ billion, 2014 45

Table 25: France hotels & motels industry geography segmentation: $ billion, 2014 46

Table 26: France hotels & motels industry value forecast: $ billion, 201419 47

Table 27: France hotels & motels industry volume forecast: establishments, 201419 48

Table 28: Accor SA: key facts 56

Table 29: Accor SA: key financials ($) 56

Table 30: Accor SA: key financials (€) 57

Table 31: Accor SA: key financial ratios 57

Table 32: Best Western International Inc.: key facts 59

Table 33: Carlson Rezidor Hotel Group: key facts 60

Table 34: Choice Hotels International, Inc.: key facts 61

Table 35: Choice Hotels International, Inc.: key financials ($) 62

Table 36: Choice Hotels International, Inc.: key financial ratios 62

Table 37: France size of population (million), 201014 64

Table 38: France gdp (constant 2005 prices, $ billion), 201014 64

Table 39: France gdp (current prices, $ billion), 201014 64

Table 40: France inflation, 201014 65

Table 41: France consumer price index (absolute), 201014 65

Table 42: France exchange rate, 201014 65

Table 43: Germany hotels & motels industry value: $ billion, 201014 67

Table 44: Germany hotels & motels industry volume: establishments, 201014 68

Table 45: Germany hotels & motels industry category segmentation: $ billion, 2014 69

Table 46: Germany hotels & motels industry geography segmentation: $ billion, 2014 70

Table 47: Germany hotels & motels industry value forecast: $ billion, 201419 71

Table 48: Germany hotels & motels industry volume forecast: establishments, 201419 72

Table 49: Accor SA: key facts 80

Table 50: Accor SA: key financials ($) 80

Table 51: Accor SA: key financials (€) 81

Table 52: Accor SA: key financial ratios 81

Table 53: InterContinental Hotels Group Plc: key facts 83

Table 54: InterContinental Hotels Group Plc: key financials ($) 83

Table 55: InterContinental Hotels Group Plc: key financial ratios 84

Table 56: Marriott International, Inc.: key facts 86

Table 57: Marriott International, Inc.: key financials ($) 87

Table 58: Marriott International, Inc.: key financial ratios 87

Table 59: NH Hoteles, S.A.: key facts 89

Table 60: NH Hoteles, S.A.: key financials ($) 89

Table 61: NH Hoteles, S.A.: key financials (€) 90

Table 62: NH Hoteles, S.A.: key financial ratios 90

Table 63: Germany size of population (million), 201014 92

Table 64: Germany gdp (constant 2005 prices, $ billion), 201014 92

Table 65: Germany gdp (current prices, $ billion), 201014 92

Table 66: Germany inflation, 201014 93

Table 67: Germany consumer price index (absolute), 201014 93

Table 68: Germany exchange rate, 201014 93

Table 69: Italy hotels & motels industry value: $ billion, 201014 95

Table 70: Italy hotels & motels industry volume: establishments, 201014 96

Table 71: Italy hotels & motels industry category segmentation: $ billion, 2014 97

Table 72: Italy hotels & motels industry geography segmentation: $ billion, 2014 98

Table 73: Italy hotels & motels industry value forecast: $ billion, 201419 99

Table 74: Italy hotels & motels industry volume forecast: establishments, 201419 100

Table 75: Accor SA: key facts 108

Table 76: Accor SA: key financials ($) 108

Table 77: Accor SA: key financials (€) 109

Table 78: Accor SA: key financial ratios 109

Table 79: Best Western International Inc.: key facts 111

Table 80: InterContinental Hotels Group Plc: key facts 112

Table 81: InterContinental Hotels Group Plc: key financials ($) 112

Table 82: InterContinental Hotels Group Plc: key financial ratios 113

Table 83: NH Hoteles, S.A.: key facts 115

Table 84: NH Hoteles, S.A.: key financials ($) 115

Table 85: NH Hoteles, S.A.: key financials (€) 116

Table 86: NH Hoteles, S.A.: key financial ratios 116

Table 87: Italy size of population (million), 201014 118

Table 88: Italy gdp (constant 2005 prices, $ billion), 201014 118

Table 89: Italy gdp (current prices, $ billion), 201014 118

Table 90: Italy inflation, 201014 119

Table 91: Italy consumer price index (absolute), 201014 119

Table 92: Italy exchange rate, 201014 119

Table 93: Japan hotels & motels industry value: $ billion, 201014 121

Table 94: Japan hotels & motels industry volume: establishments, 201014 122

Table 95: Japan hotels & motels industry category segmentation: $ billion, 2014 123

Table 96: Japan hotels & motels industry geography segmentation: $ billion, 2014 124

Table 97: Japan hotels & motels industry value forecast: $ billion, 201419 125

Table 98: Japan hotels & motels industry volume forecast: establishments, 201419 126

Table 99: Fujita Kanko Inc.: key facts 133

Table 100: Fujita Kanko Inc.: key financials ($) 133

Table 101: Fujita Kanko Inc.: key financials (Â¥) 134

Table 102: Fujita Kanko Inc.: key financial ratios 134

Table 103: Hankyu Hanshin Hotels Co., Ltd: key facts 136

Table 104: Prince Hotels, Inc.: key facts 137

Table 105: Resorttrust, Inc.: key facts 138

Table 106: Resorttrust, Inc.: key financials ($) 139

Table 107: Resorttrust, Inc.: key financials (Â¥) 139

Table 108: Resorttrust, Inc.: key financial ratios 139

Table 109: Japan size of population (million), 201014 141

Table 110: Japan gdp (constant 2005 prices, $ billion), 201014 141

Table 111: Japan gdp (current prices, $ billion), 201014 141

Table 112: Japan inflation, 201014 142

Table 113: Japan consumer price index (absolute), 201014 142

Table 114: Japan exchange rate, 201014 142

Table 115: Russia hotels & motels industry value: $ billion, 201014 144

Table 116: Russia hotels & motels industry volume: establishments, 201014 145

Table 117: Russia hotels & motels industry category segmentation: $ billion, 2014 146

Table 118: Russia hotels & motels industry geography segmentation: $ billion, 2014 147

Table 119: Russia hotels & motels industry value forecast: $ billion, 201419 148

Table 120: Russia hotels & motels industry volume forecast: establishments, 201419 149

Table 121: Accor SA: key facts 156

Table 122: Accor SA: key financials ($) 156

Table 123: Accor SA: key financials (€) 157

Table 124: Accor SA: key financial ratios 157

Table 125: Carlson Rezidor Hotel Group: key facts 159

Table 126: InterContinental Hotels Group Plc: key facts 160

Table 127: InterContinental Hotels Group Plc: key financials ($) 160

Table 128: InterContinental Hotels Group Plc: key financial ratios 161

Table 129: Marriott International, Inc.: key facts 163

Table 130: Marriott International, Inc.: key financials ($) 164

Table 131: Marriott International, Inc.: key financial ratios 164

Table 132: Russia size of population (million), 201014 166

Table 133: Russia gdp (constant 2005 prices, $ billion), 201014 166

Table 134: Russia gdp (current prices, $ billion), 201014 166

Table 135: Russia inflation, 201014 167

Table 136: Russia consumer price index (absolute), 201014 167

Table 137: Russia exchange rate, 201014 167

Table 138: United Kingdom hotels & motels industry value: $ billion, 201014 169

Table 139: United Kingdom hotels & motels industry volume: establishments, 201014 170

Table 140: United Kingdom hotels & motels industry category segmentation: $ billion, 2014 171

Table 141: United Kingdom hotels & motels industry geography segmentation: $ billion, 2014 172

Table 142: United Kingdom hotels & motels industry value forecast: $ billion, 201419 173

Table 143: United Kingdom hotels & motels industry volume forecast: establishments, 201419 174

Table 144: Accor SA: key facts 182

Table 145: Accor SA: key financials ($) 182

Table 146: Accor SA: key financials (€) 183

Table 147: Accor SA: key financial ratios 183

Table 148: InterContinental Hotels Group Plc: key facts 185

Table 149: InterContinental Hotels Group Plc: key financials ($) 185

Table 150: InterContinental Hotels Group Plc: key financial ratios 186

Table 151: Travelodge: key facts 188

Table 152: Whitbread PLC: key facts 189

Table 153: Whitbread PLC: key financials ($) 189

Table 154: Whitbread PLC: key financials (£) 190

Table 155: Whitbread PLC: key financial ratios 190

Table 156: United Kingdom size of population (million), 201014 192

Table 157: United Kingdom gdp (constant 2005 prices, $ billion), 201014 192

Table 158: United Kingdom gdp (current prices, $ billion), 201014 192

Table 159: United Kingdom inflation, 201014 193

Table 160: United Kingdom consumer price index (absolute), 201014 193

Table 161: United Kingdom exchange rate, 201014 193

Table 162: United States hotels & motels industry value: $ billion, 201014 195

Table 163: United States hotels & motels industry volume: establishments, 201014 196

Table 164: United States hotels & motels industry category segmentation: $ billion, 2014 197

Table 165: United States hotels & motels industry geography segmentation: $ billion, 2014 198

Table 166: United States hotels & motels industry value forecast: $ billion, 201419 199

Table 167: United States hotels & motels industry volume forecast: establishments, 201419 200

Table 168: Hilton Worldwide Holdings Inc.: key facts 207

Table 169: Marriott International, Inc.: key facts 208

Table 170: Marriott International, Inc.: key financials ($) 209

Table 171: Marriott International, Inc.: key financial ratios 209

Table 172: Starwood Hotels & Resorts Worldwide, Inc.: key facts 211

Table 173: Starwood Hotels & Resorts Worldwide, Inc.: key financials ($) 211

Table 174: Starwood Hotels & Resorts Worldwide, Inc.: key financial ratios 212

Table 175: Wyndham Worldwide Corporation: key facts 213

Table 176: Wyndham Worldwide Corporation: key financials ($) 214

Table 177: Wyndham Worldwide Corporation: key financial ratios 214

Table 178: United States size of population (million), 201014 216

Table 179: United States gdp (constant 2005 prices, $ billion), 201014 216

Table 180: United States gdp (current prices, $ billion), 201014 216

Table 181: United States inflation, 201014 217

Table 182: United States consumer price index (absolute), 201014 217

Table 183: United States exchange rate, 201014 217

LIST OF FIGURES

Figure 1: G8 hotels & motels industry, revenue($bn), 2010-19 18

Figure 2: G8 Hotels & Motels industry, revenue by country (%), 2014 19

Figure 3: G8 hotels & motels industry, revenue by country ($bn), 2010-14 20

Figure 4: G8 hotels & motels industry forecast, revenue by country ($bn), 2014-19 21

Figure 5: Canada hotels & motels industry value: $ billion, 201014 23

Figure 6: Canada hotels & motels industry volume: establishments, 201014 24

Figure 7: Canada hotels & motels industry category segmentation: % share, by value, 2014 25

Figure 8: Canada hotels & motels industry geography segmentation: % share, by value, 2014 26

Figure 9: Canada hotels & motels industry value forecast: $ billion, 201419 27

Figure 10: Canada hotels & motels industry volume forecast: establishments, 201419 28

Figure 11: Forces driving competition in the hotels & motels industry in Canada, 2014 29

Figure 12: Drivers of buyer power in the hotels & motels industry in Canada, 2014 30

Figure 13: Drivers of supplier power in the hotels & motels industry in Canada, 2014 31

Figure 14: Factors influencing the likelihood of new entrants in the hotels & motels industry in Canada, 2014 32

Figure 15: Factors influencing the threat of substitutes in the hotels & motels industry in Canada, 2014 33

Figure 16: Drivers of degree of rivalry in the hotels & motels industry in Canada, 2014 34

Figure 17: Starwood Hotels & Resorts Worldwide, Inc.: revenues & profitability 38

Figure 18: France hotels & motels industry value: $ billion, 201014 43

Figure 19: France hotels & motels industry volume: establishments, 201014 44

Figure 20: France hotels & motels industry category segmentation: % share, by value, 2014 45

Figure 21: France hotels & motels industry geography segmentation: % share, by value, 2014 46

Figure 22: France hotels & motels industry value forecast: $ billion, 201419 47

Figure 23: France hotels & motels industry volume forecast: establishments, 201419 48

Figure 24: Forces driving competition in the hotels & motels industry in France, 2014 49

Figure 25: Drivers of buyer power in the hotels & motels industry in France, 2014 50

Figure 26: Drivers of supplier power in the hotels & motels industry in France, 2014 51

Figure 27: Factors influencing the likelihood of new entrants in the hotels & motels industry in France, 2014 52

Figure 28: Factors influencing the threat of substitutes in the hotels & motels industry in France, 2014 54

Figure 29: Drivers of degree of rivalry in the hotels & motels industry in France, 2014 55

Figure 30: Accor SA: revenues & profitability 57

Figure 31: Accor SA: assets & liabilities 58

Figure 32: Choice Hotels International, Inc.: revenues & profitability 62

Figure 33: Choice Hotels International, Inc.: assets & liabilities 63

Figure 34: Germany hotels & motels industry value: $ billion, 201014 67

Figure 35: Germany hotels & motels industry volume: establishments, 201014 68

Figure 36: Germany hotels & motels industry category segmentation: % share, by value, 2014 69

Figure 37: Germany hotels & motels industry geography segmentation: % share, by value, 2014 70

Figure 38: Germany hotels & motels industry value forecast: $ billion, 201419 71

Figure 39: Germany hotels & motels industry volume forecast: establishments, 201419 72

Figure 40: Forces driving competition in the hotels & motels industry in Germany, 2014 73

Figure 41: Drivers of buyer power in the hotels & motels industry in Germany, 2014 74

Figure 42: Drivers of supplier power in the hotels & motels industry in Germany, 2014 75

Figure 43: Factors influencing the likelihood of new entrants in the hotels & motels industry in Germany, 2014 76

Figure 44: Factors influencing the threat of substitutes in the hotels & motels industry in Germany, 2014 78

Figure 45: Drivers of degree of rivalry in the hotels & motels industry in Germany, 2014 79

Figure 46: Accor SA: revenues & profitability 81

Figure 47: Accor SA: assets & liabilities 82

Figure 48: InterContinental Hotels Group Plc: revenues & profitability 84

Figure 49: InterContinental Hotels Group Plc: assets & liabilities 85

Figure 50: Marriott International, Inc.: revenues & profitability 87

Figure 51: Marriott International, Inc.: assets & liabilities 88

Figure 52: NH Hoteles, S.A.: revenues & profitability 90

Figure 53: NH Hoteles, S.A.: assets & liabilities 91

Figure 54: Italy hotels & motels industry value: $ billion, 201014 95

Figure 55: Italy hotels & motels industry volume: establishments, 201014 96

Figure 56: Italy hotels & motels industry category segmentation: % share, by value, 2014 97

Figure 57: Italy hotels & motels industry geography segmentation: % share, by value, 2014 98

Figure 58: Italy hotels & motels industry value forecast: $ billion, 201419 99

Figure 59: Italy hotels & motels industry volume forecast: establishments, 201419 100

Figure 60: Forces driving competition in the hotels & motels industry in Italy, 2014 101

Figure 61: Drivers of buyer power in the hotels & motels industry in Italy, 2014 102

Figure 62: Drivers of supplier power in the hotels & motels industry in Italy, 2014 103

Figure 63: Factors influencing the likelihood of new entrants in the hotels & motels industry in Italy, 2014 104

Figure 64: Factors influencing the threat of substitutes in the hotels & motels industry in Italy, 2014 106

Figure 65: Drivers of degree of rivalry in the hotels & motels industry in Italy, 2014 107

Figure 66: Accor SA: revenues & profitability 109

Figure 67: Accor SA: assets & liabilities 110

Figure 68: InterContinental Hotels Group Plc: revenues & profitability 113

Figure 69: InterContinental Hotels Group Plc: assets & liabilities 114

Figure 70: NH Hoteles, S.A.: revenues & profitability 116

Figure 71: NH Hoteles, S.A.: assets & liabilities 117

Figure 72: Japan hotels & motels industry value: $ billion, 201014 121

Figure 73: Japan hotels & motels industry volume: establishments, 201014 122

Figure 74: Japan hotels & motels industry category segmentation: % share, by value, 2014 123

Figure 75: Japan hotels & motels industry geography segmentation: % share, by value, 2014 124

Figure 76: Japan hotels & motels industry value forecast: $ billion, 201419 125

Figure 77: Japan hotels & motels industry volume forecast: establishments, 201419 126

Figure 78: Forces driving competition in the hotels & motels industry in Japan, 2014 127

Figure 79: Drivers of buyer power in the hotels & motels industry in Japan, 2014 128

Figure 80: Drivers of supplier power in the hotels & motels industry in Japan, 2014 129

Figure 81: Factors influencing the likelihood of new entrants in the hotels & motels industry in Japan, 2014 130

Figure 82: Factors influencing the threat of substitutes in the hotels & motels industry in Japan, 2014 131

Figure 83: Drivers of degree of rivalry in the hotels & motels industry in Japan, 2014 132

Figure 84: Fujita Kanko Inc.: revenues & profitability 134

Figure 85: Fujita Kanko Inc.: assets & liabilities 135

Figure 86: Resorttrust, Inc.: revenues & profitability 140

Figure 87: Resorttrust, Inc.: assets & liabilities 140

Figure 88: Russia hotels & motels industry value: $ billion, 201014 144

Figure 89: Russia hotels & motels industry volume: establishments, 201014 145

Figure 90: Russia hotels & motels industry category segmentation: % share, by value, 2014 146

Figure 91: Russia hotels & motels industry geography segmentation: % share, by value, 2014 147

Figure 92: Russia hotels & motels industry value forecast: $ billion, 201419 148

Figure 93: Russia hotels & motels industry volume forecast: establishments, 201419 149

Figure 94: Forces driving competition in the hotels & motels industry in Russia, 2014 150

Figure 95: Drivers of buyer power in the hotels & motels industry in Russia, 2014 151

Figure 96: Drivers of supplier power in the hotels & motels industry in Russia, 2014 152

Figure 97: Factors influencing the likelihood of new entrants in the hotels & motels industry in Russia, 2014 153

Figure 98: Factors influencing the threat of substitutes in the hotels & motels industry in Russia, 2014 154

Figure 99: Drivers of degree of rivalry in the hotels & motels industry in Russia, 2014 155

Figure 100: Accor SA: revenues & profitability 157

Figure 101: Accor SA: assets & liabilities 158

Figure 102: InterContinental Hotels Group Plc: revenues & profitability 161

Figure 103: InterContinental Hotels Group Plc: assets & liabilities 162

Figure 104: Marriott International, Inc.: revenues & profitability 164

Figure 105: Marriott International, Inc.: assets & liabilities 165

Figure 106: United Kingdom hotels & motels industry value: $ billion, 201014 169

Figure 107: United Kingdom hotels & motels industry volume: establishments, 201014 170

Figure 108: United Kingdom hotels & motels industry category segmentation: % share, by value, 2014 171

Figure 109: United Kingdom hotels & motels industry geography segmentation: % share, by value, 2014 172

Figure 110: United Kingdom hotels & motels industry value forecast: $ billion, 201419 173

Figure 111: United Kingdom hotels & motels industry volume forecast: establishments, 201419 174

Figure 112: Forces driving competition in the hotels & motels industry in the United Kingdom, 2014 175

Figure 113: Drivers of buyer power in the hotels & motels industry in the United Kingdom, 2014 176

Figure 114: Drivers of supplier power in the hotels & motels industry in the United Kingdom, 2014 177

Figure 115: Factors influencing the likelihood of new entrants in the hotels & motels industry in the United Kingdom, 2014 178

Figure 116: Factors influencing the threat of substitutes in the hotels & motels industry in the United Kingdom, 2014 180

Figure 117: Drivers of degree of rivalry in the hotels & motels industry in the United Kingdom, 2014 181

Figure 118: Accor SA: revenues & profitability 183

Figure 119: Accor SA: assets & liabilities 184

Figure 120: InterContinental Hotels Group Plc: revenues & profitability 186

Figure 121: InterContinental Hotels Group Plc: assets & liabilities 187

Figure 122: Whitbread PLC: revenues & profitability 190

Figure 123: Whitbread PLC: assets & liabilities 191

Figure 124: United States hotels & motels industry value: $ billion, 201014 195

Figure 125: United States hotels & motels industry volume: establishments, 201014 196

Figure 126: United States hotels & motels industry category segmentation: % share, by value, 2014 197

Figure 127: United States hotels & motels industry geography segmentation: % share, by value, 2014 198

Figure 128: United States hotels & motels industry value forecast: $ billion, 201419 199

Figure 129: United States hotels & motels industry volume forecast: establishments, 201419 200

Figure 130: Forces driving competition in the hotels & motels industry in the United States, 2014 201

Figure 131: Drivers of buyer power in the hotels & motels industry in the United States, 2014 202

Figure 132: Drivers of supplier power in the hotels & motels industry in the United States, 2014 203

Figure 133: Factors influencing the likelihood of new entrants in the hotels & motels industry in the United States, 2014 204

Figure 134: Factors influencing the threat of substitutes in the hotels & motels industry in the United States, 2014 205

Figure 135: Drivers of degree of rivalry in the hotels & motels industry in the United States, 2014 206

Figure 136: Marriott International, Inc.: revenues & profitability 209

Figure 137: Marriott International, Inc.: assets & liabilities 210

Figure 138: Starwood Hotels & Resorts Worldwide, Inc.: revenues & profitability 212

Figure 139: Wyndham Worldwide Corporation: revenues & profitability 214

Figure 140: Wyndham Worldwide Corporation: assets & liabilities 215