Marriott Hotels International, is a world-known operator and franchiser in the hotel industry of a broad portfolio of mainly 5 star hotels and high-end lodging facilities. Founded by Willard Marriott, the company is now controlled by son J.W. (Bill) Marriott, Jr. Today, Marriott International operates roughly 3,150 5 star hotels and resorts.
Marriott was created by Willard Marriott in 1927 when and he opened together with his wife a small beer stand business in Washington D.C.. Marriott was the missionary in in the city and was convinced what the city needed a stand to rest for a beer in the humid, sweltering summer time. After some time they expanded their variety of services from a simple bar to a chain of restaurants and luxury hotels. The Key Bridge Marriott in Arlington, is the Marriott International’s first luxury hotel , and celebrated its 50th anniversary in 2009. Their son and present Chief Executve Officer and Chairman of the company, J.W. Marriott, Jr. had led the business to growth aross the world. Today, Marriott International has about 3,150 5 star hotels & resorts established in the USA and 67 in other countries and territories.
Marriott International was formed back in 1992 when the Marriott Corporation was divided into two different firms, Host Marriott Corporation and Marriott International.In the year of 2002 Marriott International started a large restructuring by performing a spin-off affecting many of the Senior Living Services Communities (which is now part of Sunrise Senior Living) and Marriott Distribution Services, hence the business could focus on hotel management and ownership. In 2003 the amendments were terminated.
In April 1995, Marriott Hotels acquired a 49% interest in the Ritz-Carlton Hotel Company LLC. Marriott HotelsInternational was strongly convinced that it could grow sales and profit margins at the Ritz, a less profitable and troubled luxury hotel chain with a amount of establishments either not making money or just breaking even. Marriott’s initial investment was refined to be roughly $200 million in cash and outstanding payments in form of debt. The next year, Marriott spent $331 million to purchase the Ritz-Carlton Atlanta and purchase a large share in two properties owned by William Johnson, a real estate developer who had purchased the Ritz-Carlton Boston in 1983 and expanded his Ritz holdings over the next couple of decades.
The Ritz Hotels launched expansion into the lucrative timeshare market among other new business expansion initiatives made financially possible thanks to the bigger financial resources of Marriott Hotels International, which also lent its own in-house expertise in certain areas. There were other benefits for The Ritz-Carlton flowing from its relationship with Marriott, the Ritz-Carlton made use of buying power and reservation system of its parent company. The partnership was solidified in 1998 as soon as Marriott International announced its interest in The Ritz-Carlton Hotels to 99 percent. In the year 1999 the revenue generated from the 35 5 star luxury hotels it lead worldwide totaled roughly $1.4 billion.Marriott International owned Ramada International Hotels & Resorts up to that moment when the business was sold on 15th September, in 2004 to Cendant. At all of the North American luxury hotels the Marriott International is the first luxury hotels chain to serve food that is completely free of trans fats.In 2005, Marriott International and Marriott Vacation Club International enfolded two of the 53 hotels that contributed the max of $250,000 to the second inauguration of President George W. Bush.Marriott announced on the 19th July, 2006 that all luxury hotel establishments they operate in the USA and Canada would become non-smoking beginning September 2006. “The new policy includes all guest rooms, restaurants, lounges, meeting rooms, public space and employee work areas.”
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