Headquarters: 10400 Fernwood Road
Bethesda, MD 20817
CEO: Arne Sorenson
Stock Symbol: MAR
Marriott is the world's leading hotel company with more than 4,175 properties in 72 countries worldwide with over 715,000 rooms. Hotels range from mid-market to luxury resorts. The company operates under the following brands: Marriott, Courtyard, Renaissance, Fairfield Inn, TownePlace Suites, SpringHill Suites, Residence Inn, EDITION, Gaylord Hotels and Ritz Carlton.
Marriott reported revenues of $13.7 billion during fiscal 2014, up 8%, and net income of $753 million.
Average occupancy in North American hotels was 74.2% for 2014 with an average daily room rate of $128.39. Total international occupancy at hotels systemwide was 73.7% for 2014 with an average daily rate of $150.23.
Marriott says it will surpass one million rooms worldwide this year with 240,000 rooms under development.
CEO Arne Sorenson commented, "We post both record earnings and unit growth and conclude 2014 with the strongest worldwide development pipeline of rooms in our history. Our powerful portfolio of brands has never been better positioned or more in demand by our owners, franchisees and guests. In 2014, we signed agreements for a record-breaking 100,000 rooms, boosting our development pipeline to nearly 240,000 rooms. At year-end, our system reached nearly 715,000 rooms in 79 countries and territories. With the strength of our portfolio, we expect to reach one million rooms open or under development well before the end of 2015, offering a growing number of travel opportunities for our 49 million loyal Rewards members."
The company has been named one of the Best Companies to Work For by Fortune Magazine for 17 consecutive years. Marriott has over 330,000 employees at managed and franchised properties around the world.
Marriott announced in November it will acquire Starwood Hotels and Resorts for $12.2 billoin in a deal that will create the world's largest hotel company.
In 1927, J. Willard Marriott marries Alice Sheets in Salt Lake City, UT, and moves to Washington DC with his new bride. That spring, J. Willard and Alice open a nine-stool A&W Root Beer stand, which they later call "The Hot Shoppe."
The Hot Shoppe would expand with more locations and began offering catering services to airlines in 1937 and landed a food-services contract in 1939 with the U.S. Treasury.
With the restaurant business growing, the company went public in 1953.
In 1957, Marriott opened its first hotel, The Twin Bridges Motor Hotel, in Arlington, VA.
By 1967, the company name was changed to Marriott Corporation from Hot Shoppes Inc.
In 1993, the company splits its hotel and real estate/food businesses into Marriott International and Host Marriott Corporation.
The company spun off its timeshare business in 2011 as a separate company called Marriott Vacations Worldwide.
Marriott acquired the Gaylord Hotel Brand and Hotel Management Company for $210 million in 2012. It manages four Gaylord hotels under long-term contracts but doesn't own the hotels.
1. Medical, dental, life & disability insurance
2. 401(k) retirement savings plan
3. Continuing education/tuition reimbursement
4. Ongoing training and career development programs
5. Work/family programs and services
6. Discounts on hotel rooms, food & beverage
Updated December 8, 2015