Economic Observation Network Morgan Stanley has released a research report optimistic about the benefit logic of Marriott hotels (MAR) in the era of AI booking, and has raised its target price.

Institutional Perspective
Morgan Stanley's research report on October 12th is optimistic about Marriott's benefit logic in the AI booking era - in the big language model recommendation, the proportion of brand official website links is as high as 97%, far higher than the 13% of Google search, and the membership system is the core barrier Da Mo has raised its target price from 380 to 384 US dollars The realization of this logic depends on whether the gradual implementation of the distribution cost reduction in 2027-2028 can be achieved 。

The above content is based on publicly available information and does not constitute investment advice.