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Public ( NYSE : MAR )
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May 15 , 1927 in Washington, DC
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Bethesda , Montgomery County , Maryland , United States
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JW "Bill" Marriott, Jr , chairman and CEO<br> William Shaw President and COO
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Hospitality , Hotels , Tourism
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Hotels , Resorts
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$1514 billion USD ( 2004 )
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() is a worldwide operator and
Franchisor of a range of value and luxury
Hotel s and related
Lodging Facilities . Marriott currently has 2,300 accommodation properties in North America alone.
Marriott's operations are grouped into the following five business segments:
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 .
2003 10-K report
,
Switzerland ]]
in
Frankfurt ,
Germany ]]
In April of 1995, Marriott International acquired a 49% interest in the 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 ''
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."
Marriott Goes Smoke-Free
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