Who owns Marriott International, Inc.? Marriott is a publicly traded company, meaning ownership is distributed among shareholders who have bought the company’s shares. The company is listed on the NASDAQ stock exchange under the ticker symbol MAR. The largest shareholders are typically institutional investors, investment firms, and mutual funds, as well as individual investors who own shares.The Marriott family, namely J.W. Marriott Jr. and his family, also hold significant ownership through their shares. However, as a publicly traded company, no single individual or entity has full ownership of Marriott. The shareholders collectively own the company, and their ownership stakes might change as shares are bought and sold in the stock market.
Marriott International, Inc. is a multinational hospitality company that was founded by J. Willard Marriott and his wife, Alice S. Marriott, in 1927. It started as a small root beer stand in Washington, D.C., grew to a chain of restaurants called Hot Shoppes, and eventually transformed into a hotel empire. Today, Marriott is one of the world’s largest hotel chains, operating various brands, including The Ritz-Carlton, JW Marriott, Westin, Sheraton, Le Méridien, and Courtyard by Marriott, among others. Ownership history of Marriott International:
1. Founding and early growth (1927-1957):
In the beginning, J. Willard and Alice Marriott owned the company. In 1957, the Marriotts opened their first hotel, the Twin Bridges Marriott Motor Hotel in Arlington, Virginia.
2. Expansion into hospitality (1957-1993):
Under the leadership of J. Willard Marriott and, subsequently, his son J.W. “Bill” Marriott Jr., the company expanded across the United States and internationally. The Marriott Corporation split into two companies in 1993: Marriott International (hotel branch) and Host Marriott Corporation (real estate branch).
3. Public company and further growth (1993-present):
Marriott International went public, and its shares were listed on the New York Stock Exchange (NYSE) under the ticker “MAR.” From this point, the Marriott family no longer exclusively owned the company, and various individual and institutional investors acquired shares. However, the Marriott family continued to hold a significant amount of shares and maintain leadership roles. Bill Marriott served as CEO until 2012 when Arne Sorenson took over. Upon Sorenson’s passing in February 2021, Anthony “Tony” Capuano was named CEO.
In summary, Marriott’s ownership has evolved from being a family-owned business to a publicly traded company with various shareholders. The Marriott family continues to exert influence through its significant shareholdings and presence in the company’s management.
Who was the original founder?
Marriott International was originally founded by John Willard Marriott and his wife, Alice Sheets Marriott, in 1927. John Willard Marriott was born on September 17, 1900, in Marriott Settlement, Utah. He was a member of a devout Mormon family and grew up working on his family’s farm. After serving a mission for The Church of Jesus Christ of Latter-day Saints in New England, Marriott attended Weber College before transferring to the University of Utah.
He then moved to Washington, D.C., where he took a job with the United States Department of Agriculture. During a subsequent visit to Massachusetts, Marriott observed the popularity of a new concept – the root beer stand. In 1927, he and his wife, Alice, opened a nine-stool A&W root beer stand in Washington, D.C., called the “Hot Shoppe.” The success of this business led them to open more locations, and they soon expanded their menu to include full-service, family-style meals. In 1957, Marriott entered the hotel industry with the opening of the Twin Bridges Motor Hotel in Arlington, Virginia.
This was the beginning of the Marriott hotel chain. Over time, the business grew into a diverse hospitality empire, including hotels, restaurants, and catering services. John Willard Marriott served as president and CEO of the company until 1964 when his son, J.W. Marriott Jr., took over the leadership.
John Willard Marriott passed away on August 13, 1985. Today, Marriott International is one of the largest and most successful hotel and lodging companies in the world.
Who owns Marriott?
Marriott International, Inc., a publicly traded company, owns the Marriott brand. It is one of the largest hotel chains globally, and it operates and franchises hotels and licensing vacation ownership resorts worldwide.
Who founded Marriott?
Marriott was founded by J. Willard Marriott and his wife Alice Sheets Marriott in 1927. They started with a root beer stand, which eventually evolved into the Hot Shoppes restaurant chain, and later grew into a hotel empire.
What is the origin of the name Marriott?
The name “Marriott” comes from the last name of its founder, J. Willard Marriott. The company bears the family name and is now under the leadership of the Marriott family’s second and third generations.
What types of hotels are under the Marriott umbrella?
Marriott operates and franchises hotels across various categories, including luxury, premium, select, and long-stay lodging. Some iconic brands within the Marriott portfolio include Ritz-Carlton, St. Regis, JW Marriott, Westin, Sheraton, Renaissance, and Courtyard, among others.
How many properties does Marriott have?
As of 2021, Marriott operates more than 7,500 properties worldwide, comprising over 30 brands and spanning 131 countries and territories.
Where is the Marriott headquarters located?
Marriott International, Inc. is headquartered in Bethesda, Maryland, USA.