...TABLE OF CONTENT Introduction………………………………………………………2 Problem statement………………………………………………..3 Literature review…………………………………………………3 Analysis……………………………………………………….….6 Solutions……………………………………………………….…6 Reflection………………………………………………………..10 References…………………………………………………….…11 INTRODUCTION According to the 2014 sustainability report for Marriott International, the introductory remarks stated that, for a company to be a great leader in its industry, it has to possess a set of core values that inform every decision the company makes. Hence, Marriott’s core values have stood the test of time: putting people first, pursuing excellence, embracing change, and acting with integrity to serve our world. (team, 2014) Marriot has been a leading lodging company based in Bethesda, Maryland, USA, with nearly 3,900 properties in 72 countries. The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands. In January 16th 2014, the Marriott once again was named one of FORTUNE magazine’s “100 Best Companies to Work For”, it has maintained its excellent status of high performance as one of the only 13 companies that have appeared on this list ever since 1998 (Wiggins, 2014) In addition, this luxurious hotel has attracted and held most of its customers, employees and other stakeholders due to its rich commitment to Corporate Social Responsibilities (CSR). The legacy growing deep from its founders hiring a doctor and a surgeon to...
Words: 2860 - Pages: 12
...Providence, Rhode Island Feinstein Graduate School Company Project of Marriott A Writing Project Submitted in Partial Fulfillment of the Requirements for the MBA Degree Course: HOSP 6509 Prof. Kim Chunzi Wang Oct 22, 2012 Company information * Company history Marriott International is one of the biggest and finest hospitality business groups around the world. It owns a variety of famous brands which includes Ritz-Carlton, Bulgari Hotels & Resorts, JW Marriott, and Renaissance. All these brands represent luxury accommodations and services as well as unique visual experiences. Marriott emphasizes on improvement of guests’ satisfaction and loyalty. It also focuses on social responsibilities and community relationships. It possesses over 80 years old history which started by Mr. J. Willard Marriott, a restaurant owner at very beginning. After half century development, Marriott now has over 3000 hotels around the world with the annual sales over $30 billion and employees over 300,000 (Marriott International, 2012). * Mission and goals Mission: According to Marriott (2012), “putting people first, pursuing excellence, embracing change, acting with integrity and serving our world” Goals: Expand market to middle east and Africa in 2012 (Marriott International, 2012) invest on new, refreshed, and reinvented properties, new room and public space designs, and enhanced amenities and technology offerings maintains the superior customer services with...
Words: 2528 - Pages: 11
...How Marriott Never Forgets a Guest When retiree Ben B. Ussery Jr. goes on vacation, he typically spends hours beforehand nailing down golf dates, scouting shops for his wife, and making restaurant reservations. But last year, when the Usserys and another Richmond (Va.) couple chose to spend a week at Marriott's Desert Springs resort in Palm Desert, Calif., he let the hotel do the legwork. Weeks in advance, Marriott planning coordinator Jennifer Rodas called Ussery to ask what he wanted to do. When all was set, she faxed him an itinerary. She had even ordered flowers for his wife. ''Marriott made it a real smooth experience,'' says Ussery. ''I'm ready to go back.'' What makes such velvet-glove treatment possible is Marriott International Inc.'s (MAR) use of customer management software from Siebel Systems Inc. (SEBL) The hotel chain, based in Bethesda, Md., is counting on such technology to gain an edge with guests, event planners, and hotel owners. The software lets Marriott pull together information about its customers from different departments, so that its reps can anticipate and respond more quickly to their needs. It starts with reservations. Says Chairman J.W. Marriott Jr.: ''It's a big competitive advantage to be able to greet a customer with: 'Mr. Jones, welcome back to Marriott. We know you like a king-size bed. We know you need a rental car.''' Marriott, America's No. 1 hotel chain, is the industry leader in using technology to pamper customers. The company...
Words: 556 - Pages: 3
...will keep coming back..." This is one of Marriott International's most important and enduring principles. The company's Awards of Excellence program is one of the ways Marriott celebrates its associates and how the company especially honors those associates and business units that exemplify this legendary spirit to serve the customer, the community and coworkers. In 2011, we celebrate the 25th anniversary of this prestigious recognition program. [pic] |[pic] | |J. Willard Marriott Award of Excellence | | | |[pic] | | | |[pic] | | | |Established in 1987, the J. Willard Marriott Award of Excellence honors Marriott International's finest associates for their...
Words: 3883 - Pages: 16
...paper provides background on Marriott International, Inc (Marriott) before delving into the company’s stated current mission and vision statements. Revisions to the mission statement are provided and the expected impact to the culture of the organization is explored. Finally, this paper addresses some important considerations on the effect on the leadership of the suggested mission statement revisions. Marriott International, Inc. Background Marriott is a global hospitality company operating more than 2,600 lodging facilities, primarily in the U.S., but also in 69 other countries and territories (Datamonitor, 2009; Datamonitor, 2006). The corporation has developed several brands in the mid to luxury sectors of the hotel industry, including The Ritz-Carlton in the luxury sector; Marriott Hotels and Resorts, and Renaissance Hotels and Resorts in the upscale sector; Courtyard by Marriott in the upper mid sector; and Fairfield Inn by Marriott in the mid-scale market. Extended stay properties, time-shares and golf finish the list of property types owned or operated by Marriott (Datamonitor, 2009; Marriott International, Inc., 2009a). The company had $12.9 billion in revenue during 2007, earning a net profit of nearly $700 million through the efforts of approximately 151,000 employees (Datamonitor, 2009). That revenue held steady during the difficult economic conditions of 2008, at $12.8 billion, with net profit declining to almost $400 million (Marriott International, Inc., 2009b)...
Words: 1704 - Pages: 7
...Marriott International Vs Hilton Worldwide As an employee of Marriott International, this assignment gives us the opportunity, to compare the company I work for to our competitor Hilton Worldwide. Both companies are the largest ever in the hospitality industry around the world, and both are growing faster than ever. Company’s history The Marriott was founded in 1927. All began with an A&W root beer stand a family owned business in Washington, D.C. Founder J.Willard and his wife Alice, got their young business by quenching people’s thirst during Washington DC‘s hot, muggy summers. Then The Marriotts add hot food items to their menu and the name “Hot Shoppes was born (International, 2014). Today, with his headquarter based in Bethesda, Md., Marriott operates more than 4,087 properties in over 80 countries and territories around the world, over 697,000 rooms under 16 brands including Courtyard, Renaissance and Ritz-Carlton; more than 800 new Marriott-operated properties are in the works worldwide. Founded by J. Willard Marriott, the company is now led by President and Chief Executive Officer Arne Sorenson and J. Willard Marriott's son, J. W. Marriott, Jr. is the Executive Chairman. 19 1111119 Hilton International began around 1919, when Conrad Hilton bought The Mobley, a hotel in Cisco, Texas. Mr. Hilton had greater ambitions, over the next few years; he added other Texas hotels in his assets. In 1943, with the purchase of the Roosevelt and Plaza hotels in New York City...
Words: 2135 - Pages: 9
...4089 www.soeagra.com/ijert/ijert.htm © Society of Education, India IJERT Original Article Marriott India: Managing Its Hospitality through Gearing Service Quality Shikha Singh, Dinesh Kumar, Nilosha Sharma Bahadur Shastri Institute of Management, Delhi Nurture Education Solutions Private Limited, MBA College, Gujarat University, Ahmedabad Email: shikhabirsingh@gmail.com , dineshkumar.kumar02@gmail.com, niloshasharma05@gmail.com 3i1,2Lal ABSTRACT The Marriot group of Hotels launched back in 1983 are one of the largest brand and the world’s 12th largest lodging chain.1 The Marriott had around 8,000 hotels worldwide. The company operated and have franchisees under the brand names Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Bulgari. The Marriott group in India has being focusing on its quality of service delivered and the various other factors like customer satisfaction. The case highlights the journey of Marriott group and the various services provided by Mariott. The case also discusses the various challenges upcoming for Marriott group in India related to customer service and customer satisfaction. Pedagogical Objectives The case study helps to understand and analyse: 1. The dynamics of Indian service Industry/Hospitality Industry 2. Challenges and Opportunities for Marriott in India Mariott Group: An Overview "When you take good care of your people, they'll take pride...
Words: 5911 - Pages: 24
...Marriott Corporation 02/11/15 BUS 590: Innovative Business Models for the ‘Next’ Economy Team A: Congying Ling | Devon Nobles | Sai Prashant Boy Reddy | Snehal Ramtekkar Introduction J.W. Marriot founded the Marriot Corporation (MC) in the year 1927. The main business of this corporation was developing hotel properties around the world and selling them to outside investors while retaining lucrative long-term management contracts. By 1991, MC had around 202,000 employees ranking it as the 12th largest employer in the United States. The 1986 tax reform act ended most of the tax incentives for real estate investment. In order to maintain its reputation, MC continued to invest in Real Estate development activities till the market collapsed in 1990. MC started focusing on contract and management opportunities that required less capital. This along with a complete halt of real estate operations helped MC to improve from its position in 1990 but it was not still very far from its former glory. Bollenbach had served as treasurer of MC in the early 1980s and returned to MC as CFO in February 1992. His proposed solution to bring MC out of its troubles is “Project Chariot”. Under Project Chariot, MC would become two separate companies. One of the companies would be named Marriott International Incorporated (MII), which would comprise of MC’s lodging, food and...
Words: 2127 - Pages: 9
...Analysis of Marriott Corporation’s ‘Project Chariot’ Introduction In the spring of 1992, J.W. Marriott Jr., Marriott Corporation’s Chairman and CEO, must decide whether to recommend a proposal to the Board of Directors for a complete restructuring of the firm due to financial distress and a hefty current debt burden. While restructuring seems promising to executives, there are serious ethical considerations at hand regarding the fiduciary duty of management to both shareholders and debtholders. In theory, Project Chariot is a leveraged buyout that would diminish the value of Marriott’s current debt and distribute it to existing shareholders who may realize capital gains from stock appreciation. Our analysts hypothesize that CFO Stephen Bollenbach’s proposal, Project Chariot, will ultimately satisfy its outstanding debt payments to creditors in the long term despite an imminent credit downgrade, and more than anything leave shareholders extremely pleased. Project Chariot: A Brief Overview Stephen Bollenbach is proposing Project Chariot in an effort to combat the problems causing Marriott Corporation (MC) severe financial distress. The most immediate problem to fix is MC’s debt issue. Economic downturns in the 80s and the 1990 crash of the real estate market have left MC with debt issues that have weighed heavily on the company. Once the debt issues are resolved, Marriott Corporation will be able to raise capital. The new company will have the ability to take advantage...
Words: 1821 - Pages: 8
...2013 AnnuAl RepoRt Find Your WorldSM ONLINE. TOuR OuR INTERACTIvE ANNuAL REpORT AT MARRIOTT.COM/INvESTOR. MARRIOTT INTERNATIONAL , INC. A MESSAGE FROM OuR EXECuTIvE CHAIRMAN J.W. Marriott, Jr. Executive Chairman and Chairman of the Board There are so many ways to Find Your World at Marriott International. Our more than 3,900 hotels in more than 70 countries provide the stage for you to close that important business deal, take your loved ones on a beach vacation, or explore new destinations on a journey of personal discovery. For our guests and approximately 325,000 associates at headquarters and our managed and franchised hotels, we are working hard to help you meet your goals, whether it’s creating lasting memories or building on life’s successes. I am so proud of our company. Something I’ve noticed even more in my role as Executive Chairman is that Marriott’s history and culture are the foundation for our future. Our stakeholders recognize this, too. I am confident we’ll continue our success and come even closer to realizing our vision of being the best lodging company in the world. In 2013, our strategy delivered great results. We grew our portfolio, and had more hotels in the pipeline than any time in Marriott’s history. Our leadership teams created new opportunities for growth across the globe, from opening one of every five new rooms in the u.S. and setting us up for growth in Africa, to accelerating our growth in Asia and creating and launching...
Words: 54657 - Pages: 219
...“J. Willard Marriott began his dream in 1927 with a nine stool root beer stand. His goal was to build a successful business and a brand that is guided by strong values.” Marriott International, Inc. (1996 – 2014). Now almost 90 years later, Marriott is a leading hotel chain operating in 70 countries, with over 4000 properties. Strategic planning, community involvement, responsible business principles, and environmental awareness are the characteristics that have made Marriott successful. Analyzing our personal and workplace values will help explain how these coincide with our actions and behaviors. This will also help to analyze the alignment between our values in comparison to the values and behaviors of Marriott. Last this process will help show if the values and behaviors of Marriott are expressed in the plans and actions of the organization. The values learned from my parents are solely responsible for my current personal values; but not completely. Values are absorbed by the core consciousness of a person, and are modified by the physical environment these influences include school, friends, society’s beliefs, but the core remains the same spiritual self. I have been provided with a Christian influence that I thank god for daily. Through sports I learned team work as well as individual responsibility, while my brother taught me the fun of competition. Over the last three decades I have not observed a difference between my personal and workplace values. I have listed...
Words: 1001 - Pages: 5
...экономики и финансов фирмы Домашнее задание №8 По курсу «Корпоративные финансы-2» Кейс на тему «Анализ дивидендной политики компании «Mariott» Выполнили студенты: Группа 1 Абдухамидов Антон Гусамов Степан Данилова Екатерина Жегусов Владимир Исайчев Дмитрий Козловская Анна Москва 2011 Цель работы: Проанализировать решение компании по выкупу акций Задачи: * Дать описание компании и ее положения на рынке * Обосновать решение компании на основе теории * Провести практический анализ решений компании * Сделать выводы по проделанной работе Постановка проблемы Компания “Marriott” считает, что ее акций существенно недооценены (на рынке торгуются по цене $19,625). В связи с этим компания планирует выкупить 10 млн. акций (из 32 млн. выпущенных). Однако, выкупать акции планирует по цене на $4 выше текущей рыночной. Описание компании Marriott Corporation была основа в 1927 году. Изначально, компания специализировалась на ресторанном бизнесе и предоставляла контрактные услуги по обеспечению питанием на самолетах. В начале 40-х годов компания начинает предоставлять услуги в сфере гостиничного бизнеса. Гостиничный бизнес (35% выручки): компания распоряжается 23,000 комнат в 55 отелях, расположенных, в основном, в США. 70% комнат принадлежат внешним инвесторам и управляются компанией на основе 70-летних соглашений. Контрактное питание (32% выручки): компания предоставляет услуги широкому спектру клиентов. Ресторанный бизнес (25% выручки): компания...
Words: 1738 - Pages: 7
...CHICAGO Marriott Corp. Spinoff (A) by Professors Robert Gertner and Steven Kaplan On October 5, 1992, the Marriott Corporation announced plans to spin off its profitable hotel management business leaving its real estate assets as part of the successor corporation. At first glance the deal did not seem very different from many other corporate restructurings. However, because much of Marriott's existing debt was to become an obligation of the real estate assets only, the default risk on that debt would increase significantly as a result of the spinoff. The spinoff announcement was greeted with an unusually large amount of resistance and controversy that had wide-ranging implications for the business, fiduciary, and ethical obligations of management, directors, shareholders, debtholders, and financial advisers. The Marriott Corporation The Marriott Corporation was founded in 1927 by J. Willard Marriott as an A&W root beer franchise. The company soon expanded into the restaurant, airline catering, food service, and hotel businesses. J.W. "Bill" Marriott Jr., who became president of the company in 1964 at the age of32, was the chairman and CEO in 1992. Despite having gone public in 1953, Marriott and his family still owned 25.8% of the company's equity. Marriott's use of innovative financing techniques permitted its rapid growth in the 1970s. Marriott's strategy was to build hotels, and then sell them offto investors, maintaining control through long-term management contracts...
Words: 2177 - Pages: 9
...Business-level strategy defines an organization’s approach to competing in its chosen markets Major business-level strategic management responsibilities: Direction setting Establishment & communication of mission, vision, ethics, & long-term goals of a single business unit Creation & communication of shorter-term goals & objectives Analysis of business situation Compilation & assessment of information from stakeholders, broad environment analysis, & other sources Internal resource analysis Identification of strengths, weaknesses, opportunities, threats, sources of sustainable competitive advantage Selection of strategy Selection of a generic approach to competition – cost leadership, differentiation, focus, or best value Selection of a strategic posture – specific strategies needed to carry out the generic strategy Management of resources Acquisition of resources &/or development of competencies leading to a sustainable competitive advantage Ensuring development of functional strategies & an appropriate organizational design (management structure) to support business strategy Development of control systems to ensure that strategies remain relevant & that the business unit continues to progress toward its goals The generic strategy types proposed by Michael Porter are perhaps the most widely used & understood A sustainable competitive advantage is related to the amount of value a firm creates for its most important stakeholder, the customer...
Words: 1360 - Pages: 6
...com/Travel-News/Hotel-News/Marriott-International-grew-vastly-under-Bill-Marriott/ 1957 opened their first hotel in Virginia. 1969 opened their first international hotel in Mexico. And 1975 opened their first hotel in Europe in Amsterdam. During the past 30 years, Marriott International grew from 100 hotels to 3,700 hotels in more than 70 countries The family’s first retail operation was an A&W root beer stand that opened in Washington in 1927. It opened its first hotel in Arlington, Va., in 1957. the company opened its first international hotel in 1969, in Acapulco, Mexico, and debuted its first European hotel in Amsterdam six years later. During the past 30 years, Marriott International grew from 100 hotels to almost 3,700 hotels in more than 70 countries while acquiring brands such as Ritz-Carlton and Renaissance. it split in 1993 into Marriott International, which was to specialize in managing and franchising hotels, and hotel-ownership company Host Marriott International (now Host Hotels & Resorts), whose chairman is his brother Richard Marriott. http://www.prnewswire.com/news-releases/marriott-international-celebrates-more-than-40-years-of-service-in-mexico-105346073.html "Marriott opened its first international hotel in beautiful Acapulco, Mexico, 41 years ago, and right away we realized that this country is a fantastic travel destination and would provide great opportunity for the company to grow globally," said J.W. Marriott, Jr., chairman and chief...
Words: 697 - Pages: 3
