History of the Marriott Hotel
JW Marriott Hotels, Resorts and Suites is owned by the Washington, D.C.-based Marriott International. Marriott owns more than 480 hotels and resorts worldwide. The company divides its operations by providing 65 percent of its lodging as full service; 11 percent as select service; and 5 percent for extended stay lodging. Fifteen percent of its hotels and resorts are used as timeshares.
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Founding
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Marriott was founded by J. Willard Marriott when he and his wife, Alice, opened a root beer stand in 1927 in Washington, D.C.
Early Hotel
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Marriott's longest running hotel is the Key Bridge Marriott, which opened its doors in Arlington, Va., in 1959, and ignited rapid international growth to include 3,150 properties.
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New Corporation
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In 1992, Marriott Corporation split into the Marriott International and Host Marriott Corp., and then reorganized in 2002 to allow Marriott International to focus on hotel management and ownership.
Acquisition
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In 1995, Marriott purchased a 49 percent interest for $200 million in the Ritz-Carlton Hotel Co.
Revenue Generator
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With Marriott's financial backing, the Ritz-Carlton embarked on a lucrative timeshare program. It also generated $1.4 billion in revenue after acquiring 99 percent of Ritz-Carlton by 1999.
Health and Comfort
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In 2004, Marriott became the first hotel chain to serve its food without trans fats. It overhauled its room designs in 2005.
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References
Resources
- Photo Credit Marriott International
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Comments
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perfact I would say.
