Marriott Hotel

Marriott International
Public (NYSE: MAR)
FoundedMay 15, 1927 in Washington, D.C.
HeadquartersBethesda, Montgomery County, Maryland, United States
Key peopleJ.W. "Bill" Marriott, Jr., chairman and CEO
William Shaw President and COO
IndustryHospitality, Hotels, Tourism
Productshotels, resorts
Revenue$15.14 billion USD (2004)
Employees143,000 (2006) [1]
Websitewww.marriott.com(USA)


Marriott International, Inc. (NYSEMAR) is a worldwide operator and franchisor of a range of value and luxury hotels and related lodging facilities. Marriott currently has 2,300 accommodation properties in North America alone.[1]

Marriott's operations are grouped into the following five business segments:

History

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Singapore Marriott Hotel
Marriott International was formed in 1993 when Marriott Corporation split into two companies, Marriott International and Host Marriott Corporation. In 2002 Marriott International began a major restructuring by spinning off Senior Living Services Communities (which is now part of Sunrise Senior Living) and Marriott Distribution Services, so that it could focus on hotel ownership and management. The changes were completed in 2003.[3]

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Marriott Hotel Zürich, Switzerland
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Marriott Hotel at Frankfurt Trade Fair in Frankfurt, Germany
In April of 1995, Marriott International acquired a 49% interest in the Ritz-Carlton Hotel Company LLC.[4] Marriott International believed that it could increase sales and profit margins at the Ritz, a troubled chain with a significant number of properties either losing money or barely breaking even. The cost of Marriott's initial investment was estimated to be about $200 million in cash and assumed debt. The next year, Marriott spent $331 million to take over the Ritz-Carlton Atlanta and buy a majority interest in two properties owned by William Johnson, a real estate developer who had purchased the Boston Ritz Carlton in 1983 and expanded his Ritz holdings over the next two decades. The Ritz began expansion into the lucrative timeshare market among other new initiatives made financially possible by the deep pockets of Marriott, which also lent its own in-house expertise in certain areas. There were other benefits for Ritz-Carlton flowing from its relationship with Marriott, such as being able to take advantage of the parent company's reservation system and buying power. The partnership was solidified in 1998 when Marriott boosted its interest in Ritz-Carlton to 99 percent. By 1999 revenues from the 35 hotels it operated around the world totaled about $1.4 billion.

Marriott International owned Ramada International Hotels & Resorts until its sale on September 15, 2004 to Cendant. It is the first hotel chain to serve food that is completely free of trans fats at all of its North American properties.[1][6]

On July 19, 2006, Marriott announced that all lodging buildings they operate in the United States 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." [7]

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Vancouver Marriott Pinnacle Hotel (foreground) and Renaissance Harbourside Hotel Vancouver (background), across the street from each other in Downtown Vancouver

Marriott Brands

Full Service Lodging

Select Service Lodging

Extended Stay Lodging

Timeshare

References

1. ^ (2007) Standard and Poor's 500 Guide. The McGraw-Hill Companies, Inc.. ISBN 0-07-147906-6. 
2. ^ "The Great Energy Scam" from TIME, October 2003
3. ^ 2003 10-K report
4. ^ fundinguniverse
5. ^ "Marriott says trans fats will check out" from USA Today
6. ^ "Marriott to Cut Trans FatAt U.S., Canada Hotels" from The Wall Street Journal online
7. ^ Marriott Goes Smoke-Free

External links

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Montgomery County of the U.S. state of Maryland is situated just north of Washington, D.C. and Southwest of Baltimore. It is one of the most affluent counties in the nation[1], and has the highest percentage (29.
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Nickname(s): Old Line State; Free State
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Official language(s) None (English, de facto
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"In God We Trust"   (since 1956)
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John Willard "Bill" Marriott, Jr. (b. March 25 1932, Washington, D.C.) is the Chairman and CEO of Marriott International.

Biography

Marriott is the son of J. Willard Marriott, the founder of Marriott International.
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William Shaw is the President and Chief Operating Officer of the Marriott International Inc. He has held this post since March of 1997. Shaw received his MBA from Washington University in 1972.
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Industry (from Latin industrius, "diligent, industrious"), is the segment of economy concerned with production of goods. Industry began in its present form during the 1800s, aided by technological advances, and it has continued to develop to this day.
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Hospitality refers to the relationship process between a guest and a host, and it also refers to the act or practice of being hospitable, that is, the reception and entertainment of guests, visitors, or strangers, with liberality and goodwill.
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HOTELS

Type business magazine
Format Paper and online magazine


Owner Reed Business Information
Editor Jeff Weinstein
Founded 1966
Language English
Headquarters Oak Brook, Illinois, USA
Circulation 62,330
ISSN 1047-2975



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Tourism is travel for predominantly recreational or leisure purposes or the provision of services to support this leisure travel. The World Tourism Organization defines tourists
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Aspinwall Classification System (Leo Aspinwall, 1958) classifies and rates products based on five variables:
  1. Replacement rate (How frequently is the product repurchased?)
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HOTELS

Type business magazine
Format Paper and online magazine


Owner Reed Business Information
Editor Jeff Weinstein
Founded 1966
Language English
Headquarters Oak Brook, Illinois, USA
Circulation 62,330
ISSN 1047-2975



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resort is a place used for relaxation or recreation, attracting visitors for holidays or vacations. Resorts are places, towns such as Sochi in Russia, Newport, Rhode Island or St. Moritz, Switzerland, or larger regions, like the Adirondack Mountains or the Italian Riviera.
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Revenue is a business term for the amount of money that a company receives from its activities in a given period, mostly from sales of products and/or services to customers.
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New York Stock Exchange (NYSE), nicknamed the "Big Board", is a New York City-based stock exchange. It is the largest stock exchange in the world by dollar volume and, with 2,764 listed securities[1], has the second most securities of all stock exchanges.
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Franchising (from the French for honesty or freedom[1]) is a method of doing business wherein a "franchisor" licenses proven methods of doing business to a "franchisee" in exchange for a recurring payment, fees and a percentage of sales or profits.
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hotel is an establishment that provides paid lodging, usually on a short-term basis. Hotels often provide a number of additional guest services such as a restaurant, a swimming pool or childcare.
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Lodging or holiday accommodation is a type of accommodation. People who travel and stay away from home for more than a day need lodging mainly for sleeping. Other purposes are safety, shelter from cold and rain, having a place to store luggage and being able to take a
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An Apartment Hotel (also ApartHotel, Apart Hotel and Apart-Hotel) is a type of accommodation, described as "a serviced apartment complex that uses a hotel style booking system".
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A timeshare is a form of vacation property ownership. With timeshares, the use and costs of running the resort are shared among the owners.
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Synthetic fuel or synfuel is any liquid fuel obtained from coal, natural gas, or biomass. It can sometimes refer to fuels derived from other solids such as oil shale, tar sand, waste plastics, or from the fermentation of biomatter.
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