Marriott International Inc. / MAR
Marriott International started as a Washington D.C. root beer stand in 1927 and now has 3,000 locations in the U.S. and abroad. (Photo: Courtesy of company.)
About Marriott International Inc.
10400 Fernwood Rd., Bethesda, Md. 20817
www.marriott.com
| 301-380-3000
| Founded: 1927
Industry: Hospitality And Travel | Category: Top 100 Companies
Marriott continued its strong performance in an industry that it has come to dominate, helped by increases in business travel and a tight supply of new rooms, factors that have combined to increase room rates. Marriott's profit drop was largely the result of its leaving the synthetic fuel business, which provided hefty tax credits. Revenue cleared $12 billion. Most important, the company ended the year with fourth-quarter revenue per available room — a key measure of operating strength — up 9.4 percent.
Marriott announced an aggressive expansion in Europe, the largest lodging market in the world but one where Marriott has just 1 percent of market share. The company is betting that it can benefit from European interest in American brands and increased worldwide travel by baby boomers. Marriott is banking heavily on its limited-service Courtyard brand for the expansion. It plans to open 50 such properties in Europe within the next few years.
The company also tackled questions about its style and appeal to younger business travelers. It introduced a Great Room concept that will turn lobbies into a constantly evolving hub of activity centered on a bar that will serve breakfast in the morning and drinks at night. The idea is to make the area a place where people can work or relax. Bill Marriott, the company's longtime chief executive who recently turned 75, even took a step into cyberspace, launching his own blog. The company also banned smoking and trans-fats at its U.S. properties.
Chairman and CEO: J.W. Marriott, Jr.
2007 Financial Data
Total employees: 151,000 | Local employees: 14,556Company Leadership
| J. W. Marriott Jr. | Chairman and CEO |
| William J. Shaw | President and COO |
| Joseph Ryan | Former EVP and general counsel |
| James M. Sullivan | EVP, lodging development |
| Arne M. Sorenson | EVP, CFO and president, continental European lodging |
| Robert J. McCarthy | President, North American lodging operations and global brand management |
Source: S&P's Capital IQ
|
J. W. Marriott Jr. Chairman and CEO |
$11,919,122 Salary: $1,076,454 |
|
James M. Sullivan EVP, lodging development |
$6,388,559 Salary: $580,000 |
|
William J. Shaw President and COO |
$5,598,788 Salary: $865,497 |
|
Arne M. Sorenson EVP and CFO |
$4,283,285 Salary: $580,000 |
|
Joseph Ryan EVP and general counsel |
$2,998,234 Salary: $549,000 |
Did You Know
Marriott International Inc. is one of the world's biggest hotel companies. It manages more than 2,700 properties under brand names that include Marriott, J.W. Marriott, Renaissance, Ritz-Carlton, Residence Inn, Courtyard and Fairfield Inn. It also operates time-share vacation resorts, corporate housing and conference centers.
