Earlier, Frank mentioned you would need to attend a meeting with other finance and accounting analysts at MCS to discuss the differences in strategy between Choice Hotels and Marriott. Both companies have a BBB debt rating from Standard & Poors. This is the lowest investment grade rating and indicates that both companies have been aggressive with growth, finance, and Treasury Stock purchases.

• Discuss the differences in strategy related to business growth, finance, and Treasury Stock purchases.
• Discuss the similarities in strategy.
• Discuss any strategy recommendations for Choice Hotels management.