- published: 26 Jul 2013
- views: 37764
Marriott International, Inc. (NASDAQ: MAR) is an American diversified hospitality company that manages and franchises a broad portfolio of hotels and related lodging facilities. Founded by J. Willard Marriott, the company is now led by his son, Executive Chairman Bill Marriott and President and Chief Executive Officer Arne Sorenson. Marriott International has more than 4,087 properties in over 80 countries and territories around the world, over 697,000 rooms (as of July 2014), and additional 195,000 rooms in the development pipeline.
In June 2014, Marriott International opened their 4,000th hotel, the Marriott Marquis in Washington, D.C.
On November 16, 2015, Marriott said it would purchase Starwood Hotels and Resorts Worldwide for $12.2 billion. The deal would create the world's largest hotel company.
Marriott was founded by John Willard Marriott in 1927 when he and his wife, Alice Sheets Marriott, opened a root beer stand in Washington, D.C. As a Mormon missionary in the humid summers in Washington D.C, Marriott was convinced that what residents of the city needed was a place to get a cool drink. The Marriotts later expanded their enterprise into a chain of restaurants and hotels.