MARRIOTT INTERNATIONAL - $33.9HILTON - $19.1

INTERCONTINENTAL HOTELS GROUP - $9.5†WYNDHAM WORLDWIDE - $8.9

HYATT HOTELS CORPORATION - $7.1

HOST HOTELS & RESORTS - $13.6PARK HOTELS & RESORTS - $5.3

HOSPITALITY PROPERTIES TRUST - $4.9APPLE HOSPITALITY REIT - $4.3

LASALLE HOTEL PROPERTIES - $3.4

LAS VEGAS SANDS - $45.7GALAXY ENTERTAINMENT - $22.3††

MGM RESORTS INTERNATIONAL - $15.8WYNN RESORTS - $11.4

BOYD GAMING - $2.3

LARGEST HOTEL REITS

LARGEST HOTEL/CASINO OPERATORS

LARGEST TRAVEL COMPANIES

LARGEST HOTEL BRANDING COMPANIES

PRICELINE GROUP - $87.5LAS VEGAS SANDS - $45.7

CARNIVAL CORP - $41.4DELTA AIR LINES - $35

MARRIOTT INTERNATIONAL - $33.9SOUTHWEST AIRLINES - $32.6

GALAXY ENTERTAINMENT - $22.3††AMADEUS - $21.8†††

AMERICAN AIRLINES - $21.1ROYAL CARIBBEAN - $21

Marriott International and Hilton clearly lead the way for publicly listed hotel companies in terms of market capitalization, but both lag well behind the largest

players in the overall world of travel.*

HOST HOTELS & RESORTS - $13.3PARK HOTELS & RESORTS - $5.1

HOSPITALITY PROPERTIES TRUST - $4.9APPLE HOSPITALITY REIT - $4.2

LASALLE HOTEL PROPERTIES - $3.3

LARGEST HOTEL REITS

MARRIOTT INTERNATIONAL - $86.5

HILTON - $43.4

INTERCONTINENTAL HOTELS GROUP - $41.9

WYNDHAM WORLDWIDE

HYATT HOTELS CORPORATION

© 2017 STR, Inc. All Rights Reserved.

illustrations: annamarie hudson

Source: New York Stock Exchange, NASDAQ, London Stock Exchange, The Stock Exchange of Hong Kong*Data as of end of business 17 March 2017

†Converted from British Pounds.††Converted from Hong Kong Dollars.

†††Converted from Euros.

All figures are in billions (U.S. dollars)