In the beginning, there was a root beer stand. Now, that root beer stand has evolved into
the multi-billion dollar hospitality company that is Marriott International. According to Marriott’s official website, the company’s journey began in 1927, when John Willard Marriott and his wife opened up an A&W root beer stand in Washington D.C. Little did these young entrepreneurs know that their shop would become so successful and that their business sense would be passed down to their son John Willard Marriott Jr., also known as Bill Marriott. The company reports that its first hotel was opened in 1957, in Virginia, under Bill Marriott’s supervision. From then on, the company widened its horizons and became one of the leading hotel and lodging companies within the hospitality industry.
Seeing as the company has grown so much over the years, it’s essential for Marriott
International to have great leadership, a headquarters, and a reliable way to be contacted. According to the “Executive Leadership” page provided by the company’s website, J.W. Marriott Jr., or Bill, is the “Executive Chairman and Chairman of the Board”, in addition to his 40 years as the previous Chief Executive Officer of the company. The current CEO is stated to be Arne M. Sorenson. The Marriott site also states that the current Chief Financial Officer (CFO) is a woman named Leeny Oberg, and she’s held that position for almost three years. Because Marriott is such a large company with properties all around the country and the world, there are many “main offices” scattered across the globe but the company’s corporate/head office is located at “10400 Fernwood Road, in Bethesda, Maryland”. If at any point, the public feels they need to get in contact with the company’s corporate office, they’d call the number “1-301-380-300” (“Corporate Overview”).
Marriott’s success in the hospitality industry comes as an outcome of the hard work that’s
been put in by the company and its employees to make/keep their customers satisfied, and returning. This is why Marriott International is viewed as one of the leading hospitality companies. With “more than 6,700 properties” under its belt, all committed to providing the customer with the best service, Marriott has become a household name associated with much praise (“Marriott Int. Brand Fact Sheet”). The company has even been acclaimed by the AAA for some of its four-diamond, five-diamond, and five-star hotels (“5-Star Hotels”). A lot of the company’s success is also due to its ability to keep up with innovating trends. In 2017, just a year ago, an article on the company’s “News Center” reported how it allowed reward members of its loyalty programs, of which there are three, to link their accounts. This development opened up more doors for members, allowing them to travel to more locations than they ever could with just one program. Marriott also launched mobile apps that make the guests’ stay easier like “Mobile Check-in, Mobile Requests, and Mobile Key” (“Forbes Names Marriott International”). These innovative developments not only benefit the consumers, but it saves the company money in the long run.
Marriott International’s stature in the hospitality industry means that there are other big companies competing right alongside it, trying to trump whatever service, or price they provide. Those companies include but are not limited to: Hilton, Hyatt, and Intercontinental Hotels Group. Having this competition is beneficial for Marriott customers because it potentially lowers room rates, and pushes the company to excel in whatever department they may be lacking in.
In addition, Marriott International is a publicly traded company that’s a part of the
NASDAQ Stock Market, and it can be found under the symbol MAR (“Corporate Overview”). As reported by the NASDAQ website, the current stock price of MAR, on the 10th of December, is $110.03; although, five years ago, the stock price was at $48.15. There’s an obvious increase that occurred which indicates that those who owned a share five years ago, now have an opportunity to make more money than that which they spent.
In essence, Marriott International is one of the biggest hotel and lodging companies in the
World. The hospitality industry is driven by companies like Marriott who strive for excellence and amazing service. Marriott International is a company that came from humble beginnings, and a family who’s dream to provide great goods and services to the public led to the creation of thousands of hotels around the globe. The company’s dedication to innovation, and great leadership is what makes it so successful in this day and age, and it would be almost impossible to imagine the hospitality industry without it.