...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 attend to the associates’ healthcare needs. Back in the years after the Great Depression. Since then, its CSR has grown and evolved powerfully in over the 72 countries. (team, 2014) It is highly competitive over its competitors such as: Starwood Hotels, Hyatt Hotels Corporation, Choice Hotels International, and Intercontinental Hotels among many others...
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...Executive J. W. Marriott, Sr. | About MarriottA reflection on the life, legacy and contributions to the hospitality industry of J.W. Marriott, Sr. Group A Partners Robert Manuel and Kody Wood | Hospitality Industry Executive J. W. Marriott, Sr. | About MarriottA reflection on the life, legacy and contributions to the hospitality industry of J.W. Marriott, Sr. Group A Partners Robert Manuel and Kody Wood | John Willard Marriott September 17, 1900 – August 13, 1985 Born on September 17, 1900 in Marriott Settlement, Utah, as the eldest son of a poor farmer, J.W. Marriott was said to have learned to ride a horse before he could walk. Early in his upbringing, Marriott was held to a very strict and high standard of conduct from his father. His father also gave him responsibility at an early age making him a sheepherder on the farm to help his family. At the age of 19, he preached the gospel as a Mormon missionary around the New England area. Once Marriott completed his mission, he traveled through Washington D.C. on his way back to Utah and thought how great of an opportunity it would be to sell A&W root beer there during the hot summer days. Unfortunately, at this time he had to put this idea on hold, as the country was under the Great Depression and all the money the family had was needed to pay off loans to the banks. Marriott experienced poverty throughout his childhood and vowed to go back to school and create a better living. Although, Marriott did not complete...
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...Marriott International (Marriott) is global chain of hotels and lodging accommodations that are designed to fit varying needs and budgets. Marriott has several business units such as Marriott Hotels & Resorts, Courtyard by Marriott, Residents Inn, Fairfield Inn, and Marriott Vacation Club International. The commonality between all of the properties that Marriott International owns is that they all have a clear business-level strategy that allows them to focus on particular customer groups. Examples include the Residents Inn is focused on customers that need amenities that go beyond the average but allow the traveler to have a sense of freedom, like they are at home or the Marriott Vacation Club International, which is classified as a luxury timeshare operation. The particular business unit that is described in this report is Fairfield Inn. The Fairfield Inn chain is currently using a focused cost leadership business-level strategy. In Fairfield Inns, there are several things that allow the Marriott Company to control cost and offer accommodations at a reduced rate to customers. There are usually no full-scale restaurants within in the main hotel. This means that the company does not have to employ staff to run it, which is costly to the bottom line. Also, the company uses value linens and furnishings to decorate the rooms. This provides a clean look and feel at a low cost. The target audience, or focus, of Marriott International is the traveler who is looking...
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...facilities, leading technology, sophisticate management and enthusiastic servicing team to achieve complete customer satisfaction. Our hospitality management service strive to sustain ongoing business growth and financial strengths in order to maximize every stakeholder’s interests and provide endless contribution back to the community, through service diversification and enduring global expansion. Executive Summary This report analyzes the current strategies of Marriott International and based on the given and researched information to develop a number of recommended future strategies in order to sustain the growth of the corporation. I believe that Marriott has a good chance for success even through the market is highly competitive. Marriott can successful by developing market to Asia Pacific and using the two recommendations that have been discussed, whilst being backed up throughout with the core competency of marketing. I believe that the multi-brand and product advantage can be achieved despite other hotel corporation to penetrate any market for a period of time. As the leading hospitality corporation develop over 13 multi-brand products in serving various customer needs that no other hospitality group has. However, this advantage is not sustainable in the long term and will be lost if the service is not keep advantage hospitality knowledge and up-to-date. Professional team and leading technology should be use to ensure the service stays at the forefront of the...
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...“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...
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...Marriott International Founded in 1927 by J.Willard ,originally called Hot Shoppes,Inc.During the 1930s and 1940s,Marriott established his own chain of “Hot Shoppes” cafeteria-style restaurants. In 1953 Marriott went public,selling one-third of its shares in its Initial Public Offering.Although they continued to sell public stock, the Marriott family always kept 25% ownership over the business. Willard’s son ,J.W.Marriott Jr, took over the corpporate reins in the 1960s and refocused the business on lodging.In the 1970s Marriott began to use bank credit and unsecured debt instead of martgages to the finance development which was considered beneficial at that time due to substantial higher cash flows than the interest charges.Later,Marriott experienced two financial crises,which were due to limited partnerships in 1989,where Mariott experienced a sharp drop in income and the 1990 real estate market crash.This resulted in Marriott’s stock prices to fall more than two-third,which means a drop of $2 billion in market capitalization. This was the first time that investor-owned Marriott hotels went bankrupt. In order to improve and bring back the financial stability and also inprove the financial condition of Marriott, the CFO proposed restructuring the company under a project named Project Chariot.Due to the economic downturn in the early 90s and the Tax Reform Act of 1986,Marriott had limited ability to raise funds.This resulted in large interest payments...
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...Competition (Starwood, Intercontinental) * Alternative lodging * Terrorist attacks * Economic slowdown | There are many strengths, weakness, opportunities, and threats to Marriott International. To give a better overview of this company, a few of these will be explained. Starting off with strengths, Marriott International is a well-known brand; from Courtyard to Fairfield Inn, it is known world-wide. Anyone will agree that one of the many perks of Marriott is that it is not for just one type of person; it caters to people from all different socio-economic backgrounds. Depending on the time and location, rooms average around $150 per night at the more practical Courtyard or Residence Inn and go up to about $300+ per night at the more luxurious Ritz Carlton or the JW Marriott. However, just like any business that is in demand, Marriott International has to deal with some strong competition as more and more hotel chains and local hotels emerge. Apart from competition, another issue Marriott international faces is global expansion. While Marriott International has aggressively grown throughout the years, there are still areas that they have yet to permeate so there is still ample room for more growth. Furthermore, a profit margin is another concern of Marriott International. Although Marriott is increasing its revenue, it is growing at extremely slow rate. At the latter end of 2014, the company reported earnings of $1,224 million locations, up by a whopping $84 million...
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...project basically is talking about the investment of the stock portfolio, that mostly focus on investing of the different stocks from different company in different sector, analyzing how much percentage that we expected to invest in each stock under the expected return that we want to gain. This portfolio project covers four companies from four different sectors, which have their own advantages. The main goal of this portfolio project is focusing on the stable return of the portfolio, and the reason for choosing these companies. The four companies that I choose for this project are Toyota Motor Corporation (-TM-), The Coca-Cola Company (KO), Bank of American Corporation (BAC), and Marriott International, Inc. (MAR). The reason that I choose The Coca-Cola Company (KO) and Marriott International, Inc. (MAR) is these two companies have a stable historical price movement. Stable return of the portfolio is the first goal for all the investors, which can gain a stable profit. The Coca-Cola Company (NASDAQ: KO) The Coca-Cola Company is one of the largest corporations in the non-alcoholic beverage industry. Coca-Cola has a market cap of $186 billion and focuses exclusively on beverages. Coca-Cola has been a publicly traded company since 1920. One share of stock purchased in 1919 for $40, with all dividends reinvested, would be worth $9.8 million in 2012, a 10.7% annual increase, adjusted for inflation. In 1987, Coca-Cola once again became one of the 30 stocks, which make up the...
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...Harvard Business School 9-282-042 Rev. September 15, 1986 Marriott Corporation The idea of repurchasing shares was no stranger to Bill Marriott by January 1980. Almost five million shares of common stock had been repurchased on the open market by Marriott Corporation during 1979 at a total cost of $74 million and an average price of $15.16 in the belief that they were undervalued—a belief that still was not fully reflected in the market price. At $19 5/8, the stock was selling at only six times cash flow per share; and its price/earnings ratio of nine was a far cry from historical multiples as high as fifty times as recently as 1973. Its low price seemed to offer once again an obvious opportunity to benefit shareholders. However, the proposal to repurchase 10 million of the 32 million still outstanding shares aroused some uneasiness. If successful, it had the potential of enhancing Marriott's EPS and of increasing family and management control from 20% to 29% of outstanding shares. However, it represented a move that was almost entirely financial—one that would run the debt well above the levels advocated before the Board of Directors only two years earlier. The repurchase would also necessitate renegotiation of restrictive covenants in existing loan agreements. Lastly, the huge size of the proposed program would require a tender price of $23 1/2, a hefty premium of $4 over the current market price. All of this seemed somewhat out of character for a corporation...
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...this case Marriott Corporation with their Birmingham represented hotel Forest of Arden, A Marriott hotel and Country Club, satisfies their target market’s needs. Threats and opportunities will be detailed from caring a PEST analysis and by recommending marketing mix changes in line with the target markets needs and wants. Target market and marketing mix Marriott’s target marketing strategies have been enhanced in its several categories of segmentation through the various brands. The different flagships of Marriott’s brands support the overall target segmentation by the hotel. The various facilities like Marriott’s Hotels and Resorts, Courtyard by Marriott, Renaissance Hotels, Fairfield Inn and several others form the core brands that serve customer needs in the various target market segments according to Marriott.com. Being part of the brand Marriott’s Hotels and Resorts the Forest of Arden focuses on business, leisure or group events. Location can be a way to target a certain market; this hotel is located just 4 miles from Birmingham Airport and International train station within easy access of the M6/M42 and M40 so a great part of their target market is represented by business customers Considering the close proximity to the NEC, UK's largest exhibition centre, another target market is covered by clients, who come to Birmingham for a specific event. As advertised on their website they target golf practitioners as well.(Marriot.com) Marketing mix in a hotel is an important...
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... Marriott International, Incorporated is a leader in the global hospitality industry with more than 3,500 properties and the broadest portfolio of brands in the industry. Since the beginning of its existence, “Marriott has firmly established a culture and a tradition of innovation, service and leading performance” (Marriott Website). I chose to conduct a business analysis of this company because one of my interests is managing a prestigious international hotel and resort. After conducting a research about Marriott, I learned the strengths, weaknesses, opportunities, and threats (SWOT) analysis about the company. Their strengths are on technical innovations, higher brand recognition and recall, and global presence, and strong brand portfolio. The company adopted the so-called Marriott’s Automated Reservation System for Hotel Accommodations (MARSH), “a technical innovation to ease the business process and increase hassle-free experience for the customers” (Marriott International, Inc. Datamonitor). MARSH is a well-known reservation system to assist the customers wherever they go around the world. This technology gives the Marriott an advantage over its competitors. Another technical innovation that the company is using is the Property Guest Object Oriented System (PGOOS). This is “an auditing tool which automatically audit every night its central reservations system, i.e. MARSH” (Marriott International, Inc. Data Monitor)...
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...Marriott Corporation Marriott International is the current leader in the hotel/lodging industry. Founded in 1927, by J Willard Marriott, and his wife Alice, it had its beginning as the first A&W Root Beer franchise. By 1957, Marriott made a historic move into the hotel industry, opening their first hotel in Arlington, Virginia, under the management of their son, Bill Marriott. (Marriott International, 2015). Between 1957 and 1985, the Marriott Corporation had expanded into Mexico, began providing lodging for the cruise industry, and debuting the first Courtyard hotel. Between 1986 and 2011, they acquired several more hotels, including Fairfield Inn, Residence Inn, Renaissance, Executive Stay, and 49% of the Ritz-Carlton Hotel Company. By 2012, Marriott had added an additional five hotels after acquiring Gaylord Hotels Brand, bringing the current number of properties owned by the corporation to 4,300, in 81 countries (Marriott International, 2015). Most of its current properties are franchised, with the Marriott family owning about 30% of the corporation (Yahoo Business). Marriott International, Inc. is one of the leaders in lodging, and is currently headquartered in Bethesda, Maryland. They have made their mark worldwide, as operator, franchisor, and licensor of hotels and timeshare properties. Under its current model, the hotels are typically franchised, rather than owned. “At year-end reporting, in 2014, of the total number of hotels available worldwide...
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...following paper, I would like to focus on Marriott International, Inc., a leading lodging company with over 3,100 lodging properties in the United States and 66 other countries and territories (Marriott International, Inc. Corporate Headquarters, 2008). My key task is to discuss market segmentation, targeting and positioning strategies of the company with the following brands: Marriott Hotels & Resorts and Courtyard by Marriott in the same marketplace, Asia-Pacific. As the fast expansion in economy of Asia-Pacific, the hospitality industry has a bright perspective in this region. Especially in China, the hospitality industry during the past 30 years is a prime example of how the nation’s economy has also sharply developed. In recent years many big hotel chains became aware that seizing the market in Asia-Pacific is pretty important for their development. Marriott International is one of them. Since 1989, Marriott International has grown from one property in Asia-Pacific to over eighty properties. Over the past 16 years, Marriott has expanded its resort portfolio to include 15 resorts across the region. And in China since 1989, Marriott has grown from one property in Hong Kong to 32 hotels throughout the country (Marriott International, Inc. Corporate Headquarters, 2008). The hospitality industry today, customers don’t just need a place to stay and eat; people choose a hotel for more complex reasons like the location, hotel category and services provided. Given...
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...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...
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...different brands in Marriott International Course: Principles of Marketing Faculty responsibility: D. Sleeman Program: PGD2 Name: YAO Feng (Emma) Words Count: 2632 Date: 02.10.2008 Statement of Authorship “I certify that the totality or assigned portion of this assessment is my own work and contains no material which may have been used for the award of any degree or diploma in any institute, college or university. Moreover, to the best of my knowledge and belief, it contains no material previously published or written by another person, except where due appropriate reference is made.” YAO Feng Table of Contents INTRODUCTION 3 Aim & Objectives 3 Limits of research 3 Methodology 3 SEGMENTATION 4 Market Overview 4 Market Segments 4 TARGETING 6 Segment Strategy 7 POSITIONING 8 Product and branding strategy 8 Pricing 14 Promotion 15 Marketing Channels 16 CONCLUSION 16 REFLECTIVE COMMENT 16 REFERENCES 18 APPENDICES 20 INTRODUCTION In the following report I would like to focus on Marriott International, Inc. (NYSE:MAR), a leading lodging company with over 3,100 lodging properties in the United States and 66 other countries and territories (Marriott International, Inc. Corporate Headquarters, 2008). My key task is to critically analyze the segmentation, targeting and positioning strategies of the company with the following brands: “Marriott Hotels & Resorts” and “Courtyard by Marriott” in the same marketplace...
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