| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| CHH | RRR | MCRI | H | MAR | | LCR | |
| NYSE:CHH | NasdaqGS:RRR | NasdaqGS:MCRI | NYSE:H | NasdaqGS:MAR | | DB:LCR | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | -6.6% | 0.9% | 15.9% | 5.2% | 4.3% | | -1.4% | |
| 3Y CAGR | 13.5% | 6.2% | 9.7% | 31.6% | 24.7% | | 38.7% | |
| Latest Twelve Months | 4.1% | 12.5% | 4.1% | -8.7% | 5.0% | | 8.9% | |
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| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 55.6% | 28.0% | 20.4% | -14.9% | 50.5% | | -2.9% | |
| Prior Fiscal Year | 57.3% | 34.3% | 23.1% | 9.2% | 62.3% | | 22.6% | |
| Latest Fiscal Year | 60.7% | 29.7% | 23.2% | 12.6% | 58.6% | | 21.7% | |
| Latest Twelve Months | 60.7% | 29.7% | 23.2% | 12.6% | 58.6% | | 21.7% | |
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| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 9.45x | 2.99x | 2.59x | 3.78x | 11.43x | | 3.01x | |
| EV / LTM EBIT | 15.6x | 10.1x | 11.2x | 30.0x | 19.5x | | 13.9x | |
| Price / LTM Sales | 7.26x | 2.15x | 2.67x | 3.09x | 9.17x | | 2.08x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 2.59x | 3.78x | 11.43x | | | | | |
| Historical EV / LTM Revenue | 3.01x | 9.90x | 11.51x | | | | | |
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| Selected EV / LTM Revenue | 3.47x | 3.66x | 3.84x | | | | | |
| (x) LTM Revenue | 11,298 | 11,298 | 11,298 | | | | | |
| (=) Implied Enterprise Value | 39,260 | 41,326 | 43,392 | | | | | |
| (-) Non-shareholder Claims * | (10,566) | (10,566) | (10,566) | | | | | |
| (=) Equity Value | 28,694 | 30,760 | 32,826 | | | | | |
| (/) Shares Outstanding | 715.9 | 715.9 | 715.9 | | | | | |
| Implied Value Range | 40.08 | 42.97 | 45.85 | | | | | |
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 35.17 | 37.71 | 40.24 | | 28.08 | | | |
| Upside / (Downside) | 25.3% | 34.3% | 43.3% | | | | | |