Marriot

Marriott was founded by J. Willard Marriott in 1927 when he and his wife opened a root beer stand in Washington D.C..[4] As a Mormon missionary in the sweltering, humid summers in Washington D.C,Marriott was convinced that what the city needed was a such a place to get a cool drink.[5] They later expanded their enterprises into a chain of restaurants and hotels.[6]
The Key Bridge Marriott inArlington, Virginia is Marriott International’s longest operating hotel, and celebrated its 50th anniversary in 2009.[7] Their son and current Chairman and Chief Executive Officer, J.W. (Bill) Marriott,Jr. has led the company to spectacular worldwide growth. Today, Marriott International has about 3,400 lodging properties located in the United States and 67 other countries and territories. Edwin D.Fuller is the current President and Managing Director of International Lodging for Marriott International.
Marriott International was formed in 1992 when Marriott Corporation split into twocompanies, Marriott International and Host Marriott Corporation.
In 2002 Marriott International began a major restructuring by spinning off many Senior Living Services Communities (which is now part ofSunrise Senior Living) and Marriott Distribution Services, so that it could focus on hotel ownership and management. The changes were completed in 2003.[8]
In April 1995, Marriott International acquired a49% interest in the Ritz-Carlton Hotel Company LLC.[9] Marriott International believed that it could increase sales and profit margins at the Ritz, a troubled chain with a significant number ofproperties either losing money or barely breaking even. The cost of Marriott's initial investment was estimated to be about $200 million in cash and assumed debt. The next year, Marriott spent $331 millionto take over the Ritz-Carlton Atlanta and buy a majority interest in two properties owned by William Johnson, a real estate developer who had purchased the Ritz-Carlton Boston in 1983 and expanded...