Maria Beatriz Capistrano de Castro Pessoa
Professor Heidi M. Goetz
HFT 1000 – CRN 22552
March 30, 2018
Title: MarriottMarriott is always searching for inventive ways to serve its customers, provide opportunities for its associates, and grow its business. Marriott is recognized today as a top employer and for its superior business operations, which it conducts based on five core values: put people first, pursue excellence, embrace change, act with integrity, and serve our world. The founder’s philosophy is “Take care of associates and they will take care of the customers.”
In 1927, J. Willard Marriott and his wife Alice inaugurate the nine-stool beer stand that turn into the Hot Shoppes Restaurant chain. Good food and good service at a good fair price became a guiding principle for Hot Shoppes restaurants and for Marriott International as it grew. In 1937, Hot Shoppes begins delivery of boxed lunches to passengers at Hoover Airport, south of Washington, D.C. In 1953, Hot Shoppes, Inc. becomes public at $10.25/share and sells out in two hours of trading. In 1957, the world’s first motor hotel opened in Arlington, Virginia, under the management of J. Willard Marriott’s son, Bill. Bill Marriott became a visionary CEO whose leadership developed the hospitality industry. In 1959, Key Bridge Marriott opens. In 1969, Marriott opens its first international hotel in Acapulco, Mexico. In 1972, Marriott partners with Sun Line, becoming the first lodging company to enter the cruise business, and J.W. Marriott, Jr. is named Chief Executive Officer (CEO) of Marriott. In 1983 Marriott opens the Courtyard hotel, its first lodging for business travelers. In 1984, the first JW Marriott, named in honor of the founder J. Willard Marriott, opens in downtown Washington, D.C. In 1985, J. Willard Marriott, Sr. passes way, and J.W. Marriott, Jr. is elected Chairman of the Board. In 1987, the first Fairfield Inn and Marriott Suites hotel are opened and Marriott becomes the first lodging company to offer a portfolio of brands. Marriott acquires Residence Inn and pioneers the extended-stay lodging business. In 1988, Marriot opens its 500th hotel in Warsaw, Poland, the first western-managed hotel in Eastern Europe. In 1995, Marriott acquires 49% interest in the Ritz-Carlton Hotel Company, a historic brand. In 1997, Marriott doubles its presence overseas with the acquisition of Renaissance Hotel Group. Marriott launches TownePlace Suites in 1997 and SpringHill Suites by Marriott in 1998. In 1999, Marriott acquires ExecuStay corporate housing company. In 2000, Alice Sheets Marriott passes away at the age of 92. In 2004, The first Bulgari Hotels ; Resorts property opens in Milan, Italy. In 2008, Bill Marriott and Ian Schrager officially announce the EDITION brand. In 2009, Marriott launches Autograph Collection, a new brand of upscale and luxury independent hotels. In 2011, Marriott launches AC Hotels. In 2012, Arne Sorensen becomes President and CEO of Marriott International. In 2012, Marriott acquires Gaylord Hotels Brand adding five hotels and approximately 2 million square feet of meeting and event space. In 2013, Marriott debuts MOXY HOTELS, a three-star hospitality segment in Europe. In 2014, Marriott acquires Protea Hotel’s Brands in Africa. In 2015, Marriott International acquires Delta Hotels and Resorts and becomes the largest Full-Service Hotelier in Canada. In 2016, Marriott International acquires Starwood Hotels & Resorts, creating the largest hotel company with 5,700+ properties offering more than 1.1 million rooms across 30 brands in over 110 countries. Today, Marriott International, Inc. is a leading global lodging company with more than 6,500 properties in 127 countries and territories, reporting revenues more than $22 billion in fiscal year 2017, and has more than 177,000 employees. Marriott is considered one of the best company to work for and one of the world’s most ethical companies.
The Corporate Headquarters of Marriott International is located at 10400 Fernwood Road, Bethesda, Maryland, 20817-1102. Phone: (1) (301) 380-3000. The President, CEO ; Director of Marriott International is Arne M. Sorenson. The Executive Chairman of the Board is John Willard Marriott Jr. The Executive VP ; CFO is Kathleen Kelly Oberg. The Group President is David J. Grissen. The President of Marriott Hotels in Canada is Don Cleary. The Executive VP ; Global Chief Development Officer is Anthony G. Capuano Jr.
Marriott International, Inc. operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The stock market symbol of Marriott International is MAR. Its cusip number is 571-903-202. The stock trades on NASDAQ and other US exchanges. Existing shareholders can buy or sell stock through the company’s direct stock purchase plan, which includes a dividend reinvestment plan. Marriott issued stock in 1953 at $10.25 per share. The shareholder that purchased 100 shares at the initial public offering in 1953 and reinvest dividends, would be worth $5.5 million on December 31, 2012, yielding a 15.4% annual return. On March 29, 2018 MAR open at $134.89 and close at $135.98 and increase 2.08 or 1.55%.
The auditor of Marriott international is Ernst & Young LLP of McLean, Virginia.
In 2017 the revenue of Marriott International was almost $23 bi, in 2016 was almost $18 bi, in 2015 was almost $15 bi, in 2014 was almost $14 bi, in 2013 was almost $13 bi, in 2012 was almost $12 bi, in 2011 was more than $ 12 bi, in 2010 was more than $11 bi, in 2009 was almost $11 bi, and in 2008 was almost $13 bi.
Marriott International has teamed with two leading companies of technologies, Samsung and Legrand, to launch the hospitality industry’s Internet of Things (IoT). The IoT Guestroom Lab explores concepts that have potential to elevate the guest experience, create more efficient hotel room construction and design, and contributes to Marriott’s global sustainability efforts and goals. At the Aloft hotels, a brand of Marriott, you have already the Starwood Preferred Guest (SPG) Keyless and the Botlr. SPG Keyless is a program that permit the guess to know the number of the room, do the check in, and open the door room with the smart phone. This program is working in many Starwood Hotels, a brand of Marriott. The Botlr is a robot that deliver exactly what you need, when you need it. You can request the service with your smart phone.
The major competitors of Marriott are Hilton, Hyatt and Wyndham. In The Statistic Portal, on June 2017, Wyndham Hotel Group has 8,140 properties, Choice Hotels International has 6,553 properties, Marriott International has 6,031 properties, Intercontinental Hotels Group has 5,175 properties, Hilton Worldwide has 5,031 properties, and Best Western Hotels & Resorts has 3,617 properties. In the travel Usnews the best reward program is Marriott Rewards, in the Forbes is Starwood Preferred Rewards, and in the Points Guy is Starwood Preferred Guest. The Marriott is planning to open 40 luxury hotels in 2018, then in the end of the year will be 422 luxury properties.
In my opinion, the hotel industry will grow because more people will travel. However, the hotels will need to discover more ways to retain the guests. The hotels will need to invest more in technology and security. Most of the hotels will be eco-friendly and guests will seek for more healthy things. Marriott International will need to work hard for all the brands offer a good service.
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BIBLIOGRAPHY AuthorLastName, FirstName. Title of the Book Being Referenced. City Name: Name of Publisher, Year. Type of Medium (e.g. Print).
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