Choice Hotels				Marriott International					(2016/2015)-1	(2016/2015)-1
10-K	CHH 2016 10-K Report	CHH 2015 10-K Report		10-K	MAR 2016 10-K Report	MAR 2015 10-K Report			Choice percent change from 2015 to 2016	Marriott percent change from 2015 to 2016
Account Name	2016 10-K	2015 10-K		Account Name	2016 10-K	2015 10-K			Choice	Marriott
REVENUES				REVENUES				REVENUES
Total revenues	$                      924,641.00	$                      859,878.00		Total revenues	$                         17,072.00	$                 14,486,000.00		Total revenues	-7%	-100%
OPERATING COSTS AND EXPENSES				OPERATING COSTS AND EXPENSES				OPERATING COSTS AND EXPENSES
Operating income	$                      238,895.00	$                      225,319.00		Operating income	$                   1,368,000.00	$                   1,350,000.00		Operating income	6%	1%
OTHER INCOME AND EXPENSES, NET				OTHER INCOME AND EXPENSES, NET				OTHER INCOME AND EXPENSES, NET
Net income	$                      139,371.00	$                      128,029.00		Net income	$                       780,000.00	$                       859,000.00		Net income	9%	-9%

1. Based on your horizontal analysis of Choice Hotels' and Marriott International's total revenue, total expenses, and net income, which company would be a more attractive target for an aquisition by the equity firm and why?

2. Given the changes in total revenue, operating income, and net income from 2015 to 2016, did Choice Hotels or Marriott International experience more change? Which area (total revenue, operating income, or net income) changed most?

3. Based only on the income statement, which company would you invest in and why?