Summary

Technicals are mixed, but the stock seems rich-looking given an RSI in the high 80s and its more than 5% run-up after last week's investor conference.

For longer-term investors, demographics and declining/slow growth put Marriott at risk of being overbuilt in Europe and the USA.

The risk Marriott is overbuilt in developed economies is offset by aggressive growth in stronger growth markets with better forward-looking demographics.

Marriott should look to build out a new tier of high-margin revenue sources, beyond hotel fees and food & beverage with its existing franchisees to offset demographic and economic headwinds.

Marriott should leverage its hotel brand into a "one-stop" hospitality/convention brand, offering a national fine dining and cocktail lounge experience, and a concert venue for leading entertainers.