Case | HBS Case Collection | December 1981 (Revised September 1986)

Marriott Corp.

by Thomas R. Piper

Abstract

Marriott is considering the repurchase of ten million shares. This is apparently at odds with the financial policies that the Board of Directors passed two years earlier. Students must discuss why the policies were passed and why changes are now necessary. Includes a discussion of debt policy, financing policy and dividend policy. Students also discover stock is currently undervalued.

Keywords: Stocks; Policy; Governing and Advisory Boards; Change; Financial Strategy; Valuation;

Citation:

Piper, Thomas R. "Marriott Corp." Harvard Business School Case 282-042, December 1981. (Revised September 1986.)