Marriott News Center

282 posts categorized "Marriott"

11/05/2012

Marriott Honors Top Franchisees for 2012

2012 Partnership Circle Award WinnersPrestigious Partnership Circle Award Given to Five Marriott Franchise Companies.

Marriott International honored top full service franchise partners at their annual MINA Conference held last week at the Marco Island Marriott Beach Resort in Florida. Five companies – E.J. Del Monte Corporation, JHM Hotels, PCH Hotels & Resorts, White Lodging Services and Winegardner & Hammons, Inc. – were awarded the Partnership Circle Award, the highest honor Marriott presents to its franchise partners for hospitality excellence. Executives from organizations that own or franchise JW Marriott Hotels, Autograph Collection, Renaissance Hotels, Marriott Hotels & Resorts and Gaylord Hotels attended the conference.

[pictured:  back row, L to R:  D.J. Rama, JHM Hotels; Jim Fisher, Marriott International; Bob McCarthy, Marriott International; J.W. Marriott, Jr., Marriott International; Arne Sorenson, Marriott International; Dave Grissen, Marriott International; Mike Mercier, E.J. Del Monte Corporation; Liam Brown, Marriott International - Front row, L to R: Bruce White, White Lodging Services; H.P. Rama, JHM Hotels; Keith Daub, Winegardner & Hammons, Inc.; Tony Davis, PCH Hotels & Resorts; Alex Del Monte, E.J. Del Monte Corporation; Deno Yiankes, White Lodging Services; Dave Sibley, White Lodging Services]

Marriott’s Partnership Circle Award honors companies who live Marriott’s vision, share a mutual long-term commitment to the business, fully embrace Marriott’s brand initiatives, focus on associates to create a well-managed and engaged workforce, invest in hotel product and provide outstanding customer service.

“All five recipients are repeat winners, consistently performing at the upper echelon of Marriott’s industry-leading full service franchise community. Each has previously won multiple awards for service, food & beverage and product leadership,” said Jim Fisher, Chief Owner & Franchise Services Officer, Marriott International.  “It is an honor to again recognize these hospitality leaders for their shared commitment to excellence. The lodging industry has faced a number of challenges over the past several years, but it hasn’t diminished the focus that these five have demonstrated. The results bear out the level of success they have again achieved.”

Marriott’s 2012 Partnership Circle Award Winners:
• E.J. Del Monte Corporation of Rochester, NY, owns a total of 17 Marriott-branded hotels, including the award-winning Del Monte Lodge Renaissance Rochester Hotel & Spa and the completely renovated Rochester Airport Marriott, as well as 15 select-service hotels. A family-owned business for 58 years, E.J. Del Monte has consistently delivered on guest service and has been a true partner to Marriott.
• JHM Hotels of Greenville, SC, owns and operates 23 Marriott-branded hotels. They are a partner who embodies the Marriott culture every day through their strong commitment to guest satisfaction and community service.
• PCH Hotels & Resorts of Birmingham, AL, owns and operates four Marriott Hotels & Resorts and four Renaissance Hotels in their home state of Alabama. Their properties include the historic Battle House Renaissance Mobile Hotel & Spa and the Marriott Shoals Hotel & Spa, which not only consistently deliver on guest satisfaction, but showcase some of the state’s most beautiful cities and resort areas.
• White Lodging Services of Merrillville, IN, opened the first franchised Fairfield Inn hotel in 1990. White Lodging Services operates more than 130 hotels across Marriott’s portfolio of brands, including the 1,005 room JW Marriott Indianapolis. They also celebrated the official groundbreaking of the 1,012 room JW Marriott Austin late last month. One of Marriott’s largest franchisees, White Lodging Services has received Marriott’s Partnership Circle Award ten times.
• Winegardner & Hammons, Inc. of Cincinnati, Ohio, opened the Cincinnati Marriott Northeast in 1996. Since then, the company’s portfolio has grown to include 18 Marriott-branded hotels. Consistent with the Marriott philosophy, Winegardner & Hammons believes in taking care of their associates and has a strong culture of guest service, helping make them a 14-time recipient of Marriott’s Partnership Circle Award.     

In addition to presenting the Partnership Circle Awards, Marriott honored franchisees for their achievements in the following categories: Developer of the Year, Opening of the Year, Spirit To Serve, Spirit To Preserve, Best New Product, Renovation Excellence, Service Excellence and Food & Beverage Excellence. A full list of award winners follows.

2012 MINA AWARD WINNERS
Partnership Circle
E.J. Del Monte Corporation
JHM Hotels
PCH Hotels & Resorts, Inc.
White Lodging Services
Winegardner & Hammons, Inc.

Developer of the Year
Turnberry Associates

Opening of the Year
Chicago Marriott Naperville – Managed by The Bricton Group & Owned by Janko Group

Spirit To Serve
JHM Hotels

Spirit To Preserve
Winegardner & Hammons, Inc.

Best New Product
Renaissance Baton Rouge Hotel – Wampold Companies
Louisville Marriott East – RockBridge Capital, LLC

Renovation Excellence
Fremont Marriott Silicon Valley – Quorum Hotels & Resorts
Indianapolis Marriott East – Shadeland Enterprises

Service Excellence
Amway Hotel Corporation
Boyne USA
E.J. Del Monte Corporation
Greenwood Hospitality Management
Lighthouse Properties, LLC
Menna Development and Management, Inc.
Olshan Hotel Management, Inc.
Pinnacle Hotel Management
PCH Hotels & Resorts, Inc.
Winegardner & Hammons, Inc.

Food and Beverage Excellence
E.J. Del Monte Corporation
PCH Hotels and Resorts, Inc.
White Lodging Services
Winegardner & Hammons, Inc.

Visit Marriott International, Inc. (NYSE: MAR) for company information.

Connect with stephanie.hampton@marriott.com.

10/25/2012

Marriott Hotels & Resorts and WIRED Hosted an Evening of Comedy with Funny or Die

Funny Or Die Emcee and Comedian James Adomian30 Rock's Kristen Schaal brought the house down along with an All-Star Roster of Comedians at the Marina del Rey Marriott. 

Marriott Hotels & Resorts, the signature brand of Marriott International, and WIRED, hosted An Evening with Funny or Die earlier tonight at Marina del Rey Marriott. 

Funny or Die curated a lineup of today's hottest comedians including: Kristen Schaal (30 Rock, The Daily Show), James Adomian (Harold & Kumar Escape from Guantanamo Bay), Maria Bamford (Louie), Andrés du Bouchet (Conan), Jerrod Carmichael (Goodwin Games) and T.J. Miller (Rock of Ages) and surprise appearance by Sean Patton (Conan)


Michael Dail, VP Global Brand Marketing, Marriott Hotels & Resorts, Funny Or Die’s Betsey Koch and ComediansThe invite-only event was standing room only with 240 guests who were treated to nearly 2 hours of laugh out loud comedy. Special guests in the audience included singer and actor, Asher Monroe (NBC’s Parenthood and Fame). The evening topped off with a spectacular after party at Glow, where guests sipped SkinnyGirl cocktails, noshed on Tex-Mex hors d’oeuvers, cheesecake pops and listened to the spins of DJ R-Rated.

This was the second event of the WIRED + Marriott Culturazzi Series, part of WIRED and Marriott’s partnership with WIRED Insiders — startup executives, digital game changers, gadget gurus, culture vultures, and adventurers — to curate monthly events through December, hosted at Marriott hotels, aimed to inspire, inform and entertain the next generation of travelers who blend work and play. 

Marriott Hotels & Resorts has been reimagining the guest experience, transforming its lobbies and public spaces for the next generation of travelers and the Marina del Ray Marriott offers the perfect blend of productivity and tranquility, with 18,000 sq. ft. of conference, meeting and event space with breathtaking views of the Malibu Mountains and the Pacific Ocean serving as the backdrop. 

CONTACT: Jennifer Clark on behalf of Marriott Hotels & Resorts
(212) 614-4862 (O) | (646) 204-5977 (C) | jennifer.clark@bm.com 

08/29/2012

Marriott International Announces Release Date for Third Quarter 2012 Earnings

MARRIOTTBETHESDA, Md. – AUGUST 29, 2012 – Marriott International, Inc. (NYSE: MAR) will report third quarter 2012 earnings results on Wednesday, October 3, 2012, at approximately 5:00 pm Eastern Time (ET).  The company will hold a conference call for the investment community to discuss its third quarter 2012 earnings on Thursday, October 4, 2012 at 10 a.m. ET.  News media can also access the conference call in a listen-only mode.

Marriott’s 2012 third quarter covers the 12-week time period from June 16, 2012 through September 7, 2012.  Mr. Arne Sorenson, Marriott International's president and chief executive officer, and Mr. Carl Berquist, Marriott International's executive vice president and chief financial officer, will discuss the company's performance.

The conference call will be webcast simultaneously via Marriott’s investor relations website.  Investors and news media wishing to access the call on the web should log on to http://www.marriott.com/investor, and click the link for the third quarter earnings call under “Recent and Upcoming Events”.  A replay will be available at that same website until October 4, 2013.  A transcript of the call will also be available on the company’s website.

The telephone dial-in number for the conference call is 706-679-3455.  Please use conference ID 24533249 when dialing into the call.  To help ensure you do not miss any of the conference call, please dial-in or link to the call on the web five to 10 minutes prior to the scheduled start time.

A telephone replay of the conference call will be available from 1 p.m. ET, Thursday, October 4, 2012 until 8 p.m. ET, Thursday, October 11, 2012.  To access the replay, call 404-537-3406.  The conference ID for the recording is 24533249.
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Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Connect with thomas.marder@marriott.combetsy.dahm@marriott.com

 

08/28/2012

Marriott International 2011-2012 Sustainability Report Highlights Youth Employment Initiatives and Preserving the Environment

Report cover 2011 - 2012 Marriott Sustainability Report coverBETHESDA, MD – Marriott International, Inc. (NYSE:MAR) recently released its second full comprehensive Sustainability Report, using guidelines set forth by the Global Reporting Initiative (GRI).  In it, Marriott announced $2.5 million invested in its environmental portfolio over the past three years, and significant contributions to workforce development for disadvantaged youth around the world to help them gain skills and jobs. 

Brasil Eder completed the YCI program in 2011 - He is now a chef at the Renaissance São Paulo Hotel, Brazil.jpgThrough a global portfolio of partnerships called “World of Opportunity,” Marriott has been a catalyst for addressing rising youth unemployment with programs such as the Youth Career Initiative (YCI) in nine countries, SOS Children’s Villages and The Prince’s Trust in 24 European countries and The Ritz-Carlton’s “Succeed Through Service” in 26 countries.   For 21 years, the Marriott Foundation for People with Disabilities (MFPD) has provided job and life-skills training for young people with disabilities. Through the MFPD, more than 13,500 youth have been placed in mainstream employment with 3,500 employers, including Marriott, across nine cities in the U.S.

“For Marriott, creating a sustainable future includes preserving the environment, but it also means creating more jobs and stronger communities,” said Mari Snyder, vice president of social responsibility. “Over the next two years, we plan to hire approximately 100,000 people in our growing portfolio of hotels, two-thirds outside the United States. These programs are equipping disadvantaged youth with employable skills that can hopefully prepare them for jobs with Marriott.”

The results of Marriott’s 2011-2012 Sustainability Report are reported to shareholders, customers, nongovernmental organizations (NGOs) and associates, who Marriott works to inform about its priorities and actions, understand their evolving expectations and viewpoints and create opportunities to address substantive issues through partnerships and collaboration. 

In the report, Marriott captures results from 2011 in the areas of environmental, economic and social responsibility performance.  Highlights from the report include:

• A 12 percent reduction in water consumption per occupied room and a four percent reduction in energy consumption per square meter since 2007. 

Green Hotel Global, an online tool giving guests and business customers access to a comprehensive list of environmental metrics and practices for each hotel in the Marriott portfolio• The launch of a Green Hotel Global, an online tool giving guests and business customers access to a comprehensive list of environmental metrics and practices for each hotel in the Marriott portfolio.
 
• Investing in sustainable development with the announcement of plans to open the company’s first hotel in Port-au-Prince, Haiti.

• Hiring nearly 36,000 associates in 2011 with plans to hire approximately 100,000 more people around the world over the next two years.

• Becoming the first in our industry to tap into social media gaming with My Marriott Hotel on Facebook, showcasing the opportunities and growth potential attainable in hospitality careers. 

• Delivering “Human Rights and the Protection of Children” training to all associates worldwide and
participating in the International Tourism Partnership’s Human Trafficking Working Group that created an Industry Position Statement on Human Trafficking.

• Securing a $200,000 grant for YCI from the U.S. Department of State’s Office to Monitor and Combat Trafficking in Persons in order to include rehabilitated survivors of human trafficking into the YCI program in Mexico, Vietnam and Brazil.

• Marking the three-year anniversary of the company’s $2 million commitment to the Juma Sustainable Development Reserve in Amazonas, Brazil to protect 1.4 million acres of rainforest.

• Helping to protect the source of fresh water in southwestern China’s Sichuan Province through the
company’s Nobility of Nature program in partnership with Conservation International. The initiative promotes sustainable jobs—such as beekeeping and honey production.

“Our success depends on providing the information and transparency that our stakeholders increasingly expect,” said Arne Sorenson, president and CEO of Marriott International.  “It also depends on being true to this purpose: to provide the opportunity for rewarding travel experiences for our guests, the opportunity for personal and professional growth for our associates, and the opportunity for a better and more sustainable future in the communities where we live and work.”

Comments and feedback related to the report are welcome at community.engagement@marriott.com.  For more information about Marriott’s corporate social responsibility initiatives or for a full copy of the report, visit www.marriott.com/socialresponsibility.  For more about Marriott’s environmental initiatives, visit www.marriott.com/environment.

Sustainability reports based on the GRI framework are used to determine the sustainability issues most pertinent to the organization; benchmark organizational performance with respect to laws, norms, codes, performance standards and voluntary initiatives; demonstrate organizational commitment to sustainable development; and compare organizational performance over time. The Sustainability Reporting G3 Guidelines are the foundation of the framework. For more information on the GRI, visit www.globalreporting.org.

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Connect with felicia.mclemore@marriott.com

 

08/09/2012

Marriott International Declares Cash Dividend

MARRIOTTBethesda, Md. – August 9, 2012 – Marriott International, Inc. (NYSE: MAR) today announced that its board of directors declared a quarterly cash dividend of thirteen cents ($0.13) per share of common stock.  
 
The dividend is payable on September 14, 2012 to shareholders of record on August 23, 2012. 

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Connect with thomas.marder@marriott.com

07/31/2012

Marriott International Announces Significant Expansion of Global Sales Network in Spain

AC Hotel Cuzco - Madrid, SpainNew Global Sales Office Will Support Marriott’s Growth in Spain.

LONDON – Marriott International’s recent growth in Spain has led to a major expansion of its global sales network in the country.  The company’s new global sales office in Madrid, Spain is based at the AC Hotel Cuzco and is now open, complementing our Barcelona Global Sales Office and recent hotel developments in the country. 

“Marriott International’s presence in Spain has significantly grown since the AC Hotels by Marriott and Autograph Collection brands joined our global portfolio in 2010.  In fact we now have over 80 hotels in Spain, more than any other country in Europe. We are thrilled to open our new global sales office here, significantly expanding our resources in this ever-expanding and dynamic market,” said Neal Jones, vice president of Marriott’s Global Sales Europe and Global Intermediaries. [photo: AC Hotel Cuzco - Madrid, Spain]

The new team is tasked with further driving sales momentum in the market as well as forging deeper relationships with key lodging buyers who have significant local and international requirements. As a result of the changes, the former relationship between Marriott International and its General Sales Agent in Spain has ceased. Marriott International has seen its market share in to, and out of Spain, increase significantly over recent years and its grateful to all of its business partners for this success.

Jones added, “The expansion of Marriott’s global sales organization in Spain reaffirms our commitment to this important market and will deliver huge benefits to our Spanish based customers, helping to deliver the high standards of account servicing Marriott in known for.”

For more information on Marriott International, Inc. or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Connect with elizabeth.caminiti@marriott.com

 

06/18/2012

Global Expansion Fuels Marriott Earnings Growth

Shanghai Marriott LuwanLeading Brands and New Hotels Drive Strong Free Cash Flow.

• 4,000 hotels planned in 90 countries by 2014
• Over 100 hotels expected in China by 2014
• Approximately $4 Billion to $5 Billion available for return to shareholders or opportunistic investments over three years

BEIJING – Leading global hotel operator Marriott International, Inc. (NYSE: MAR) is on track to have 4,000 hotels in 90 countries across its 14-brand lodging portfolio by 2014.  With 115,000 hotel rooms in its development pipeline, it could open between 90,000 and 105,000 new rooms around the world in 2012 through 2014, not including the planned Gaylord acquisition.

In presentations at its first meeting in China for security analysts and institutional investors, Marriott said it expects to have more than 100 hotels across nine brands and nearly 40 markets in China by 2014.

Assuming 6 to 8 percent compound growth in worldwide systemwide Revenue per Available Room (RevPAR) for 2012 through 2014, diluted earnings per share (EPS) could reach $2.45 to $2.85 in 2014.

Arne Sorenson, Marriott International’s president and chief executive officer, told investors, “China is a fitting place to present our tremendous global growth story and discuss our outstanding financial prospects.  Even today, China is our second most important market after North America, representing roughly 5 percent of total fees.  On average we expect to open a hotel a month in this country over the next three years.

“Beyond our major expansion here, China also represents extraordinary opportunities for the travel sector globally.  The country is now the third largest source market for international travel behind the U.S. and Germany, with 70 million travelers annually, fueled by a dramatically growing middle class.  Chinese arrivals in the U.S. were one million in 2011 and are expected to grow to three million by 2016.   We are working with our industry to smooth the visa process in the U.S. and we look forward to welcoming more visitors from around the world,” said Mr. Sorenson.

Discussing its operating model, the company said that it could generate between $1.8 billion and $1.9 billion in worldwide fee revenue through 2014, assuming compound worldwide systemwide RevPAR growth of 6 to 8 percent.

With strong cash flow expected, Marriott assumes investment spending of $2.6 billion to $2.8 billion from 2012 through 2014.  The company expects to recycle $800 million to $1 billion of capital during the period.  Assuming this level of net investment, a 6 to 8 percent RevPAR growth scenario and new debt issuances, the company could have $4.0 billion to $4.7 billion to return to investors or deploy in additional opportunistic investments over the next three years.

Highlighting its commitment to and focus on the China market, Marriott said it plans to hire 30,000 employees in the country by the end of 2015.  The company now has one million Chinese members in its 38 million member guest loyalty program, Marriott Rewards, and has also established a fresh water conservation initiative, “Nobility of Nature,” in partnership with local communities in Sichuan Province.

“We are excited about our future, here in China, elsewhere in Asia and around the world.  Our core values are led by putting people first.  That, combined with a strong brand portfolio, hotels in outstanding locations, and operations and development closely aligned with local markets, will enable us to grow market share, enhance guest loyalty and drive long-term profitability for both our hotel owners and shareholders,” said Mr. Sorenson.

Marriott will provide a live webcast of today’s investor and security analyst conference.  The live webcast will be available for U.S. investors on June 18, 2012 from approximately 7:30 p.m. to midnight Eastern Daylight Time in the U.S. (EDT).  The presentations will take place in Beijing, China from approximately 7:30 a.m. to noon on June 19, 2012 (China GMT+8 time zone).  Slides and audio from the meeting will be provided through a live webcast via Marriott’s investor relations web site.  The slides contain financial models for the three-year period, including estimates of earnings before interest, taxes, depreciation and amortization (EBITDA), return on invested capital, and free cash flow, as well as non-GAAP financial measure reconciliations for those estimates as appropriate.  Copies of the slides will be available for download approximately one hour before the start of the presentation.  Those wishing to access the webcast should log onto http://www.marriott.com/investor, and click on the Security Analyst Meeting link under the “Recent & Upcoming Events” tab.  Presentation materials from the meeting and the webcast replay will be available online after the meeting as well. Investor or analyst questions concerning the analyst conference should be addressed to Marriott Investor Relations at (301) 380-1379.

This press release contains “forward-looking statements” within the meaning of federal securities laws, including RevPAR and earnings trends; statements concerning the number of lodging properties we expect to add in future years; our expected investment spending and amounts we could return to shareholders; and similar statements concerning anticipated future events and expectations that are not historical facts.  We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including the continuation and pace of the economic recovery; supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with governments and officials in countries where we do business, clients and property owners; the availability of capital to finance hotel growth and refurbishment; and other risk factors that we identify in our most recent quarterly report on Form 10-Q; any of which could cause actual results to differ materially from the expectations we express or imply here.  We make those statements as of June 19, 2012 Beijing Time (June 18, 2012 in the U.S.), and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. 

For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

Connect with thomas.marder@marriott.com

 

06/12/2012

Bill Marriott's Blog Turns Five

Screen shot 2012-06-12 at 11.56.34 AM80-year-old executive a social media pioneer.

Bill Marriott, Executive Chairman, Marriott International, Inc., has written (and audio recorded) more than 250 blogs in five years.  This week’s Marriott on the Move blog looks back on the journey. http://www.MarriottOnTheMove.com 

“I’ve been blown away by the reaction to my blog,” said Bill Marriott.  “To be a social media trendsetter is something I never anticipated.”

The blog has addressed everything from vacationing with his dog, Murphy, to terrorist attacks to resigning as CEO.  It has become a major channel of communication and a place where readers can leave comments – some  have even offered wedding proposals!  In the past five years, blog readers have learned a lot about Bill Marriott.  

“I value family, work and community.  I'm not afraid to tackle controversial topics such as reforming our immigration policy or putting our non-smoking policy in our hotels.  I like to talk about good news, but I'm not afraid to talk about the bad news, such as what I said after the bombing of our Islamabad hotel.”

At 80 years old, Bill Marriott will continue his blog the way he always has -- by recording it.  He doesn’t type or own a computer.   “When your family's name is above the door, you are the person clearly identified with the company.   I’ve enjoyed sharing stories with our customers.  My blog is a great way to communicate.”

Marriott on the Move is now translated into Mandarin and posted on Chinese hotel websites.  Other foreign languages will be rolled out later this year. 

Read more about why he blogs: http://bit.ly/KAXwgM

Visit Marriott International, Inc. (NYSE: MAR) for company information. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

05/31/2012

Marriott International Expands Group and Meetings Portfolio with Acquisition of Gaylord Hotels Brand and Hotel Management Company for $210 Million

Gaylord national at nightExpects transaction to be EPS accretive in 2013.

Marriott International, Inc. (NYSE: MAR) announced today that it has entered into an agreement with Gaylord Entertainment Company (NYSE: GET) to acquire the Gaylord brand and hotel management company for $210 million. The transaction is conditioned on Gaylord Entertainment’s shareholders approving the company’s conversion into a real estate investment trust. If approved, Gaylord will continue to own the existing Gaylord hotels and Marriott will assume management of these properties under long-term agreements.  The transaction will add 4 hotels and approximately 7,800 rooms to Marriott’s portfolio.

Gaylord Opryland at nightGaylord Hotels include Gaylord Opryland® in Nashville, Tennessee; Gaylord Palms® in Kissimmee, Florida near Orlando; Gaylord Texan® on Lake Grapevine near Dallas, Texas, and Gaylord National® on the Potomac in National Harbor, Maryland, near Washington, D.C. Gaylord Hotels are uniquely positioned in the group and family leisure segments with approximately 2 million square feet of meeting and event space. They offer multiple opportunities for recreation, shopping, and dining, as well as entertainment, such as the partnership with DreamWorks ™.

Arne Sorenson, Marriott International president and chief executive officer, said, “We are excited to add Gaylord Hotels to our brand portfolio and are thrilled Gaylord Entertainment selected us to manage their properties.  We have long been impressed with the hotels Gaylord has created, as well as their skill in hosting major meetings and events and attracting the family leisure market.  This is a tremendous opportunity to advance growth and opportunity for both Marriott International and the Gaylord hotel brand.

“Gaylord properties will benefit from Marriott’s economies of scale, including lower costs for central reservations, procurement and other services, plus strong sales, revenue management, marketing and distribution systems, while Marriott will be able to capture even a greater share of the major event market.  Gaylord’s “everything-in-one-place” properties are very attractive to group meeting planners.  As a new REIT owner, Gaylord Entertainment should benefit from improved hotel profitability associated with Marriott’s ability to generate substantial cost savings and incremental demand.”

Robert McCarthy, Marriott International chief operations officer, said, “Both Marriott and Gaylord have well-defined cultures that revolve around putting people first and we expect Gaylord’s ‘STARs’ and Marriott associates will find significant opportunities for career growth in this combination.   Gaylord customers will continue to enjoy the outstanding service for which that brand is known.”

"We chose Marriott – a brand that is a recognized leader in the hospitality industry - due to their  focus on providing the highest quality experience for both group and leisure customers,” said Colin V. Reed, Chairman and Chief Executive Officer, Gaylord Entertainment Company. “According to a recent survey conducted on behalf of Gaylord in February of over 400 high-quality meeting planners, Gaylord ranked first in all under one-roof offerings and amenities and Marriott ranked as the number one preferred group destination provider overall due to its service standards and wide distribution.”

Upon completion of the transaction, Marriott will operate the hotels under management agreements with an initial term of 35 years.  Marriott International expects to earn an incentive fee in its first full year of management, based on improvement in Gaylord Hotels’ profitability, and further expects the transaction to be accretive to Marriott’s earnings per share by approximately 2 cents in 2013.   

The agreement is subject to the previously mentioned Gaylord Entertainment shareholder approval, which is expected in August, as well as lender consent to amendments to Gaylord’s credit facility and other customary closing conditions and regulatory approvals.  The transaction is expected to close by October.

Mr. Sorenson will participate in a conference call Gaylord Entertainment will hold at 10:00 a.m. eastern time today to discuss this announcement.  The call can be accessed at Gaylord Entertainment’s Investor Relations web site at http://ir.gaylordentertainment.com.

Note on forward-looking statements: This press release contains “forward-looking statements” within the meaning of federal securities laws, including our expectations that we will earn an incentive fee from the Gaylord properties in the first full your, for improved profitability at those properties, and for a greater share of the major event market, and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those we identify below and other risk factors that we identify in Marriott International, Inc.’s most recent quarterly report on Form 10-Q. These risks include changes in market conditions; the continuation and pace of the economic recovery; competitive conditions in the lodging industry; and receipt of Gaylord Entertainment shareholder approval and lender consents. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release, and undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

About Marriott International, Inc.
Marriott International, Inc. (NYSE: MAR) is a leading lodging company based in Bethesda, Maryland, USA with more than 3,700 properties in 73 countries and territories and reported revenues of over $12 billion in fiscal year 2011.  The company operates and franchises hotels and licenses vacation ownership resorts under 17 brands, including Marriott Hotels & Resorts, The Ritz-Carlton, JW Marriott, Bulgari, EDITION, Renaissance, Autograph Collection, AC Hotels by Marriott, Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Marriott Executive Apartments, Marriott Vacation Club, Grand Residences by Marriott, and The Ritz-Carlton Destination Club.  There are approximately 300,000 employees at headquarters, managed and franchised properties.  Marriott is consistently recognized as a top employer and for its superior business operations, which it conducts based on five core values: put people first, pursue excellence, embrace change, act with integrity, and serve our world. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.

About Gaylord Entertainment
Gaylord Entertainment (NYSE: GET), a leading hospitality and entertainment company based in Nashville, Tenn., owns and operates Gaylord Hotels (www.gaylordhotels.com), its network of upscale, meetings-focused resorts, and the Grand Ole Opry (www.opry.com), the weekly showcase of country music’s finest performers for more than 80 consecutive years. The Company's entertainment brands and properties include the Radisson Hotel Opryland, Ryman Auditorium, General Jackson Showboat, Gaylord Springs Golf Links, Wildhorse Saloon, and WSM-AM. For more information about the Company, visit www.GaylordEntertainment.com.

Connect with thomas.marder@marriott.com

 

05/11/2012

Meetings At Marriott Hotels in Latin America: Successful, Simple And Easy At A Single Price Per Person

JW Marriott CancunBook your meeting between now and March 31, 2013 http://www.marriott.com/marriott/group_promotion2012.mi

Time invested in a meeting is more valuable than ever before, and the desire to balance this with destination experiences is becoming more and more popular. Latin American and Caribbean destinations offer an exciting and more casual atmosphere, where business can be done efficiently and recreation can offer new opportunities for learning and team building in a more relaxed setting. Whether you are from a corporation, association or an incentive groups, with Marriott’s group, meetings have never been this easy!

Between now and March 31, 2013, book your meeting at participating Marriott Hotels & Resorts, JW Marriott, Renaissance Hotels, Courtyard by Marriott Hotels, Fairfield Inn, and Marriott Executive Apartments a single price per person including:

• Room Rental
• Welcome Coffee Break (minimum of 10 people)
• Morning Coffee Break (First day)
• Lunch (First Day)
• Afternoon Coffee Break (First Day)
• Complementary projector and screen for duration of meeting
• Notes Pads and pens for all meeting participants.

“A single price per person will allow our customers to conduct their meetings in a simple and easy way while getting business priorities accomplished.  Our single price per person meeting package also will allow customers to experience great Latin American and Caribbean destinations,” said Alex Fiz, Vice President of Sales for the Caribbean and Latin America at Marriott International.
 
To book, visit http://www.marriott.com/marriott/group_promotion2012.mi and book your meeting between now and March 31, 2013 to receive the offer.

Participating Hotels
• JW Marriott Guanacaste Resort
• JW Marriott Hotel Lima
• JW Marriott Hotel Caracas
• JW Marriott Hotel Quito
• JW Marriott Hotel Rio de Janeiro
• JW Marriott Hotel Bogota
• JW Marriott Cancun Resort & Spa 
• JW Marriott Hotel Mexico City
• Renaissance Aruba Resort
• Renaissance Curacao Resort
• Renaissance Jaragua
• Renaissance La Concha San Juan Resort
• Renaissance Sao Paulo
• Renaissance Caracas La Castellana
• Aruba Marriott Resort
• Curacao Marriott
• St. Kitts Marriott
• Costa Rica Marriott Hotel
• Los Suenos Marriott Ocean & Golf Resort
• Panama Marriott Hotel
• Tegucigalpa Marriott Hotel
• Marriott Plaza Hotel Buenos Aires
• Santiago Marriott Hotel
• Venezuela Marriott Playa Grande
• Bogota Marriott Hotel
• CasaMagna Marriott Cancun Resort
• Mexico City Marriott Reforma Hotel
• CasaMagna Marriott Puerto Vallarta Resort & Spa
• Ixtapan de la Sal Marriott Hotel & Spa
• Puebla Marriott Real Hotel
• Tijuana Marriott Hotel
• Courtyard Port of Spain
• Courtyard by Marriott San Juan Miramar
• Courtyard by Marriott Bridgetown
• Courtyard by Marriott San Jose
• Courtyard San Salvador
• Courtyard by Marriott Panama MetroMall
• Courtyard by Marriott Panama Real
• Courtyard Guayaquil
• Courtyard by Marriott Monterrey Airport
• Courtyard by Marriott Monterrey San Jeronimo
• Courtyard by Marriott Toluca Airport
• Courtyard by Marriott Cancun
• Courtyard by Marriott San Luis Potosi
• Courtyard by Marriott Puebla Las Animas
• Courtyard by Marriott Mexico City Airport
• Marriott Executive Apartments Finisterre Panama
• Fairfield Inn Monterrey Airport
• Fairfield Inn Los Cabos, Mexico
• JW Marriott Santa Fe

TERMS AND CONDITIONS

Rates are commissionable. Cancellation polices will apply and vary by hotel. Blackout dates apply for individual hotels. In order to quality for this promotion, groups should have a minimum of 10 people and a maximum of 50 people.  Additional Morning coffee Breaks, lunch, or afternoon coffee breaks will be quoted and billed separately.  Internet access is not included as part of this promotional offer.  Promotion may not be available at all hotels.  Promotion only available at participating hotels. Neither local taxes nor service charges or tips are not included as part of this promotional offer. Void where prohibited. © 2012 Marriott International, Inc.

Visit Marriott International, Inc. (NYSE:MAR) for company information.

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