MAR
- Marriott International, Inc.
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Overview
Company Summary
Marriott International, Inc. (MAR) is a global hospitality company that operates and franchises a wide range of hotels, resorts, and related lodging facilities. With a presence in over 130 countries, Marriott is one of the largest and most recognizable hotel chains worldwide.
The company's core business is divided into three segments:
1. Managed and Franchised Hotels: Marriott operates and manages a portfolio of hotels and resorts under various brands like Marriott Hotels, JW Marriott, Ritz-Carlton, Sheraton, Westin, and many others. They provide a range of services including accommodation, dining, meeting and event spaces, and recreational facilities for both business and leisure travelers. Additionally, Marriott also licenses its brands to third-party hotel owners and operates franchises where owners retain full operational control.
2. Vacation Ownership: Marriott offers a vacation ownership program known as Marriott Vacation Club. This initiative enables customers to purchase a share or points-based ownership of vacation properties and resorts. These customers can then utilize their ownership to stay at various Marriott Vacation Club locations around the world.
3. Timeshare Resorts Development: Marriott develops and sells vacation ownership timeshare resorts. These resorts are typically multi-unit properties that provide customers with the opportunity to own a property within a specific destination for a designated period each year. These properties often come with a range of amenities and services, similar to a traditional hotel.
Marriott has a strong focus on customer loyalty and has established the Marriott Bonvoy program, which offers rewards, recognition, and enhanced benefits for frequent guests. This program encourages repeat business and fosters customer satisfaction.
Overall, Marriott International, Inc. is a global hospitality company that operates, manages, franchises, and develops properties under various brands to cater to the diverse needs of travelers seeking accommodation and vacation experiences worldwide.