Marriott Company Profile Report | MAR Key Insights & Org Charts
January 3, 2024
Marriott International, Inc.
7750 Wisconsin Avenue
Bethesda, MD 20814
Main Phone: (301) 380-3000
Industry Sector: Consumer Cyclical - Lodging
Full Time Employees: 377,000
Annual Revenue: $6.13 Billion USD
Fortune 500 Rank: #192 in 2023
CEO: Anthony G. Capuano Jr., President, CEO & Director
What is Marriott’s Mission Statement and Business Philosophy?
Marriott International's mission statement is: "To enhance the lives of our customers by creating and enabling unsurpassed vacation and leisure experiences."
This mission statement emphasizes the company's commitment to providing exceptional experiences that enrich the lives of their guests. It focuses on both the creation of unique vacation opportunities and the enablement of guests to enjoy those experiences to their fullest potential.
Marriott's business philosophy is built on a set of core values:
- Putting People First: This value highlights the importance of prioritizing the needs and well-being of both employees and guests.
- Pursuing Excellence: This value underscores the company's commitment to continuous improvement and delivering top-quality experiences.
- Embracing Change: This value emphasizes the need for agility and adaptability in a rapidly evolving industry.
- Acting with Integrity: This value reflects the importance of ethical business practices and building trust with stakeholders.
- Serving Our World: This value highlights Marriott's commitment to sustainability and positive social impact.
These core values guide Marriott's decision-making and inform its approach to doing business. They help the company create a positive and rewarding experience for all stakeholders, including employees, guests, and the communities in which they operate.
What are Marriott’s growth strategies for 2024 and beyond?
Marriott International has outlined several key growth strategies for 2024 and beyond, aiming to expand its reach, enhance customer experience, and drive long-term profitability. Here are the key pillars of their growth plan:
- Expansion into Emerging Markets:
- Focus on Asia: Marriott plans to capitalize on the growing travel demand in Asia, particularly in China, India,and Southeast Asia. This includes opening new hotels, expanding existing brands, and exploring new lodging concepts tailored to the region's needs.
- Entry into Africa: Marriott sees significant potential in the African market and plans to expand its footprint through strategic partnerships and acquisitions.
- Diversification of Brands and Products:
- Filling the Gaps in Portfolio: Marriott will continue to develop and acquire brands to cater to diverse traveler segments and fill gaps in their portfolio. This includes expanding their portfolio of luxury, mid-scale, and extended-stay brands.
- Targeting Specific Customer Segments: Marriott will focus on developing brands and products tailored to specific customer segments, such as millennials, families, and business travelers.
- Investment in Technology and Innovation:
- Digitalization and Personalization: Marriott will continue to invest in digital solutions to enhance guest experience and personalize offerings. This includes mobile check-in, keyless entry, and personalized recommendations.
- Leveraging Data Analytics: Marriott will leverage data analytics to gain deeper insights into customer preferences and personalize offers, optimize operations, and improve marketing and sales efforts.
- Exploring New Technologies: Marriott will explore and invest in emerging technologies such as artificial intelligence, virtual reality, and robotics to further enhance guest experience and operational efficiency.
- Focus on Sustainability and Social Responsibility:
- Commitment to Environmental Stewardship: Marriott will implement initiatives to reduce its environmental impact, such as adopting sustainable practices in its operations and collaborating with suppliers to develop eco-friendly products.
- Supporting Local Communities: Marriott will continue to invest in local communities through social responsibility programs and initiatives that focus on education, diversity and inclusion, and community development.
- Driving Revenue Growth through Multiple Channels:
- Direct Bookings: Marriott will focus on driving more direct bookings through its own websites and mobile app,offering exclusive deals and benefits to incentivize direct engagement.
- Distribution Partnerships: Marriott will maintain strong relationships with online travel agencies and other distribution partners while exploring additional partnerships to reach new audiences.
- Loyalty Programs: Marriott will continue to enhance its loyalty programs, Marriott Bonvoy, to offer more rewarding experiences and personalized benefits to loyal customers.
- M&A and Strategic Partnerships:
- Targeted Acquisitions: Marriott will strategically acquire companies or brands that complement their portfolio and expand their reach into new markets or segments.
- Joint Ventures and Partnerships: Marriott will explore joint ventures and partnerships with other companies to access new markets, leverage expertise, and develop innovative solutions.
By implementing these growth strategies, Marriott International aims to solidify its position as a global leader in the hospitality industry, capture new market opportunities, and deliver sustainable long-term growth for its stakeholders.
What does the Marriott organizational structure look like in 2024?
Marriott International utilizes a matrix organizational structure in 2024. This structure combines both functional and divisional elements, offering flexibility and adaptability to the company's diverse operations and global reach. Here's a breakdown of the key aspects:
- Geographic Regions: The company divides its operations into four geographic regions: Americas, EMEA (Europe, Middle East & Africa), APAC (Asia Pacific), and Greater China. Each region has its own president and leadership team responsible for overseeing all aspects of the business within their territory.
- Brand Portfolio: Marriott operates a diverse portfolio of brands spanning various segments, including luxury,premium, select, extended-stay, and lifestyle. Each brand has a dedicated team that manages its brand identity, marketing, and development.
- Corporate Functions: A set of centralized functions provide support and services to all regions and brands.These functions include finance, human resources, legal, information technology, marketing, and sales.
- Shared Services: Marriott utilizes shared services centers located in various locations worldwide. These centers handle specific tasks such as accounting, payroll, procurement, and customer service, providing cost-efficiency and operational consistency across the company.
- Regional and Brand Leaders: Regional presidents and brand leaders jointly manage operations within their respective areas. This fosters collaboration and ensures that strategic decisions are aligned with both regional and brand-specific goals.
- Cross-functional Teams: Marriott often forms cross-functional teams to address specific projects or initiatives.These teams bring together experts from different functions to leverage diverse perspectives and achieve optimal results.
Benefits of Marriott's Matrix Structure:
- Adaptability: The structure allows Marriott to adapt to changing market conditions and preferences in different regions and brands.
- Efficiency: Shared services and centralized functions provide cost-effectiveness and operational scale.
- Collaboration: The matrix encourages collaboration between regions, brands, and functions, leading to innovative solutions and coordinated efforts.
- Expertise: Each brand and function benefits from dedicated teams with deep expertise in their respective areas.
Challenges of Marriott's Matrix Structure:
- Complexity: Managing a matrix structure can be complex, requiring clear communication, strong leadership,and effective conflict resolution strategies.
- Accountability: Ensuring accountability can be challenging with multiple reporting lines and shared decision-making processes.
- Duplication of Efforts: Overlapping responsibilities between functions and regions can lead to duplication of efforts and inefficient resource allocation.
Overall, Marriott's matrix structure allows the company to balance its global reach with localized expertise, driving strategic growth and operational efficiency across its diverse brand portfolio and geographic regions.
Who is the current CEO of Marriott?
The current CEO of Marriott International is Anthony Capuano. He was appointed to the position in February 2023, succeeding Arne Sorenson who held the role from 2012 until his passing in 2021. Prior to becoming CEO, Capuano served as Marriott's Group President for Global Development, Design and Operations.
Marriott International CEO Anthony “Tony” Capuano has been appointed president and CEO by the Marriott board, effective February 24th, 2023. The decision arrives following news of former president Stephanie Linnartz’s plans to exit the hotel giant and join sportswear company Under Armour as president and CEO.
“It has been one of the most significant and best experiences of my life to build a career at Marriott,” Linnartz says. “I will always be grateful for the opportunities I had to play a role in the company’s growth and industry leadership. I am thankful for the support and friendship of Mr. Marriott, Arne Sorenson, David Marriott, and Tony Capuano through the years. While I may not be walking the halls of Marriott every day, I will still be a Marriott Bonvoy member and a loyalist to our incredible portfolio of brands.”
Who are Marriott’s top competitors in the marketplace?
Marriott International faces several key competitors in the global hospitality industry, each with its own strengths and weaknesses:
- Hilton Worldwide: A leading global hospitality company with a diverse portfolio of brands, including Hilton Hotels & Resorts, DoubleTree by Hilton, and Hampton by Hilton. Hilton competes directly with Marriott across various market segments and regions.
- IHG Hotels & Resorts: Another major player with a strong presence in the luxury and upscale segments. IHG operates brands like InterContinental, Kimpton Hotels & Restaurants, and Holiday Inn.
- Hyatt Hotels Corporation: Known for its luxury and upscale offerings, Hyatt caters to discerning travelers seeking high-end experiences. Hyatt brands like Park Hyatt, Andaz, and Grand Hyatt compete directly with Marriott's luxury brands.
- Wyndham Hotels & Resorts: A major player in the economy and midscale segments, Wyndham offers a range of brands such as Ramada, Super 8, and Wyndham Grand. Wyndham competes with Marriott's select and extended-stay brands.
- Accor Group: A French multinational hospitality company with a strong presence in Europe and Asia. Accor brands like Sofitel, Pullman, and Novotel compete with Marriott across various market segments.
- Jin Jiang International Holdings Co., Ltd.: A Chinese company with a rapidly growing portfolio of brands,including Jin Jiang Hotels, Vienna Hotels, and Louvre Hotels Group. Jin Jiang poses a significant challenge in the Chinese market and other emerging economies.
Other Notable Competitors:
- Choice Hotels International: Operates brands like Comfort Inn, Quality Inn, and Econo Lodge, focusing on the economy and midscale segments.
- Best Western Hotels & Resorts: A global chain with a strong presence in North America and Asia, offering a range of brands from budget-friendly to upscale.
- Expedia Group: While not a direct hotel operator, Expedia owns various travel booking platforms like Expedia and Hotels.com, influencing customer booking decisions and impacting Marriott's distribution channels.
- Airbnb: The rise of the sharing economy presents a new challenge for traditional hotels like Marriott, offering alternative accommodation options and changing consumer travel preferences.
- Brand Portfolio: Each competitor possesses a unique portfolio of brands catering to different market segments and traveler preferences. Marriott's success depends on maintaining a diverse and well-positioned portfolio that caters to various demands.
- Global Reach: The competition extends across various geographical regions, requiring Marriott to adapt its strategies and offerings to different market dynamics and cultural nuances.
- Loyalty Programs: Strong loyalty programs play a crucial role in attracting and retaining customers. Marriott's Bonvoy program faces competition from similar programs offered by its rivals.
- Technology and Innovation: Embracing technology and digital solutions is crucial for enhancing guest experience and increasing operational efficiency. Marriott needs to stay ahead of the curve in this dynamic environment.
- Sustainability: Sustainability considerations are becoming increasingly important for travelers. Marriott needs to demonstrate its commitment to responsible practices to remain competitive.
Marriott's position in the highly competitive hospitality industry requires constant innovation, adaptation, and a focus on delivering exceptional guest experiences. Understanding the strengths and weaknesses of its competitors allows Marriott to develop effective strategies and maintain its leadership position in the global market.
Who currently sits on the Marriott Board of Directors?
The Board of Directors of Marriott International consists of 11 members:
- Anthony G. Capuano: Chairman and Chief Executive Officer
- David S. Marriott: Global Cultural Ambassador and Chairman Emeritus
- Stephanie Linnartz: President
- Isabella D. (Bella) Goren: Lead Independent Director
- Frederick A. Henderson: Audit Committee Chair
- Deborah Marriott Harrison: Global Cultural Ambassador Emeritus
- Eric Hippeau: Compensation Committee Chair
- Lauren R. Hobart: Nominating and Corporate Governance Committee Chair
- Debra L. (Deb) Reed Kolkka: Finance Committee Chair
- Aylwin B. Lewis: Risk Committee Chair
- Margaret M. (Peggy) O'Mara: Human Resources Committee Chair
- Grant F. Reid: Executive Committee Chair
- Audit Committee: Frederick A. Henderson (Chair), Isabella D. (Bella) Goren, David S. Marriott
- Compensation Committee: Eric Hippeau (Chair), Debra L. (Deb) Reed Kolkka, Aylwin B. Lewis
- Nominating and Corporate Governance Committee: Lauren R. Hobart (Chair), Frederick A. Henderson, David S. Marriott
- Finance Committee: Debra L. (Deb) Reed Kolkka (Chair), Isabella D. (Bella) Goren, Aylwin B. Lewis
- Human Resources Committee: Margaret M. (Peggy) O'Mara (Chair), Anthony G. Capuano, Stephanie Linnartz
- Risk Committee: Aylwin B. Lewis (Chair), Debra L. (Deb) Reed Kolkka, Margaret M. (Peggy) O'Mara
Who are the executive decision-makers at Marriott as of January 2024?
- Anthony Capuano: Chairman and Chief Executive Officer
- Kathleen Oberg: Chief Global Officer, Global Operations
- Erika Alexander: Chief Human Resources Officer
- Ty Breland: President, Americas
- Liam Brown: Group President, U.S. & Canada
- Don Cleary: Group President, Americas Lodging
- Jim Connelly: Group President, Europe
- Tina Edmundson: Group President, Select Brands
- Carlton Ervin: Group President, Global Development, Design and Operations
- Karen Finberg: Chief Marketing Officer
- Brian King: President, Caribbean & Latin America
- Yibing Mao: President, Greater China
- Raj Menon: President, Asia Pacific Excluding China
- Patricia O'Connell: Chief Financial Officer
- David S. Marriott: Global Cultural Ambassador and Chairman Emeritus
- Satya Anand: President, Europe, Middle East & Africa (EMEA)
Senior Vice Presidents:
- Benno Dorer: Global Officer, Technology
- Jennifer Hsieh: Chief Communications Officer
- Scott K. McLain: Chief Supply Chain Officer
- David (Dave) T. Walton: President and Chief Executive Officer, Marriott Vacation Club and Group President,Extended Stay
Presidents of Business Units:
- Douglas (Doug) L. Ridge: President, Marriott Vacation Club
- Michael (Mike) D. Bellisario: President, Select Brands North America
- Jennifer (Jenn) L. Gribble: President, Marriott International Lodging Management
- Brian (Bri) K. Kingston: President, Marriott Hotels
- Eric (Eric) M. Marcotte: President, Marriott Vacation Club Destinations
- Kevin (Kevin) F. Olszewski: President, Marriott Executive Apartments & Marriott Bonvoy Tours & Activities
- Liam (Liam) P. Ward: President, Residence Inn & TownePlace Suites
What Technology Platforms have been deployed at Marriott?
Marriott International leverages a wide range of technology platforms to enhance guest experiences, optimize operations, and drive growth across its global hospitality business. Here are some of the key technology platforms deployed by Marriott:
- Marriott Bonvoy App: This mobile app provides a seamless experience for Marriott Bonvoy members, allowing them to book and manage reservations, access mobile check-in and keyless entry, communicate with hotel staff, request services, and earn and redeem rewards.
- Marriott Online Booking Engine: This platform allows guests to search for and book hotel rooms across Marriott's diverse portfolio of brands and locations. It also offers personalized recommendations, promotions,and package deals.
- Marriott Chatbot: This AI-powered chatbot assists guests with various tasks, including booking reservations,answering questions about hotels and amenities, and providing recommendations for local attractions.
- Interactive Digital Signage: Marriott utilizes digital displays in its hotels to display information about hotel services and amenities, promote local attractions, and offer personalized recommendations to guests.
- Property Management System (PMS): This platform manages various aspects of hotel operations, including reservations, guest check-in/check-out, housekeeping, billing, and reporting. Marriott utilizes its proprietary PMS, Marriott Enterprise System (MES), to centralize and streamline operations across its hotels.
- Revenue Management System (RMS): This platform analyzes market data and guest behavior to optimize pricing strategies and maximize revenue. Marriott utilizes advanced RMS solutions to adjust room rates dynamically based on demand and competition.
- Data Analytics Platform: Marriott collects and analyzes data from various sources, including reservations,guest feedback, and operational systems, to gain insights into guest preferences, optimize marketing campaigns, and improve operational efficiency.
- Cloud Computing Platform: Marriott leverages cloud computing to store and manage data, host applications,and provide scalability and flexibility for its technology infrastructure.
- Artificial Intelligence (AI): Marriott is exploring various AI applications to personalize guest experiences,automate tasks, and improve operational efficiency.
- Internet of Things (IoT): Marriott is implementing IoT solutions, such as smart thermostats and lighting systems, to improve energy efficiency and guest comfort in its hotels.
- Virtual Reality (VR) and Augmented Reality (AR): Marriott is experimenting with VR and AR technologies to offer immersive experiences for guests, such as virtual tours of hotel rooms and destinations.
Marriott's Approach to Technology:
- Guest-Centric Focus: Marriott prioritizes technology solutions that enhance guest experiences and provide personalized services.
- Data-Driven Decision Making: Marriott leverages data analytics to gain insights and make informed decisions about various aspects of its business.
- Innovation and Adoption: Marriott actively explores and implements new technologies to maintain a competitive edge in the hospitality industry.
- Partnerships: Marriott collaborates with various technology companies to develop and implement innovative solutions.
Marriott's investment in technology platforms has been instrumental in driving its success and positioning it as a leader in the hospitality industry. By continuously investing in new technologies and enhancing existing platforms, Marriott is well-positioned to meet the evolving needs of its guests and navigate the ever-changing landscape of the hospitality industry.
Marriott SWOT Analysis
- Global Brand and Reputation: Marriott enjoys a strong global brand reputation for quality, service, and reliability. This translates to high guest satisfaction and loyalty, which drives repeat business and strengthens its competitive position.
- Diversified Portfolio: Marriott boasts a diverse portfolio of over 30 brands catering to various price points,guest preferences, and market segments. This allows them to capture a larger market share and minimize dependence on any single segment.
- Strong Financial Performance: Marriott demonstrates a consistent track record of financial stability and profitability, with strong cash flow and a healthy balance sheet. This provides them with the resources to invest in growth initiatives and navigate economic downturns.
- Operational Efficiency: Marriott has implemented efficient operating practices and a centralized management system, leading to cost optimization and improved profitability across its vast network of hotels.
- Technology Infrastructure: Marriott leverages advanced technology platforms to enhance guest experiences,personalize offerings, and optimize operations. This allows them to stay ahead of the curve and adapt to evolving consumer preferences.
- Loyalty Program: Marriott Bonvoy, its loyalty program, boasts a large and engaged member base. This program incentivizes repeat business, provides valuable guest data, and drives revenue through partnerships.
- Reliance on Cyclical Industry: The hospitality industry is susceptible to economic cycles, with downturns impacting travel demand and hotel profitability. This vulnerability makes Marriott's performance dependent on external factors.
- Complexity of Operations: Managing a vast global portfolio with diverse brands and locations poses logistical challenges and requires significant resources. This can lead to operational complexities and potential inconsistencies in service delivery.
- Competition: Marriott faces intense competition from other major hospitality chains, offering similar services and vying for the same customer segments. This necessitates constant innovation and differentiation to maintain market share.
- Exposure to Regulatory Risks: Marriott operates in various countries with diverse regulations, exposing it to potential legal and compliance challenges. Adapting to changing regulations and maintaining legal compliance can be costly and resource-intensive.
- Brand Perception: While Marriott enjoys a strong overall brand reputation, some individual brands may face specific challenges, such as perceived lack of differentiation or outdated facilities. This can limit their appeal to certain guest segments.
- Emerging Markets: Expanding into emerging markets with rising disposable incomes and growing travel demand presents significant growth potential for Marriott.
- Extended Stay Segment: Increasing demand for extended-stay accommodations due to factors like remote work and long-term travel trends offers a lucrative opportunity for Marriott to expand its offerings in this segment.
- Technology Integration: Further integrating technology into guest experiences and operations can enhance personalization, automation, and efficiency, leading to improved guest satisfaction and operational cost savings.
- Sustainability Initiatives: Consumers increasingly value sustainability, creating an opportunity for Marriott to differentiate itself through eco-friendly practices and responsible tourism initiatives.
- Partnerships and Acquisitions: Strategic partnerships and acquisitions can help Marriott expand its portfolio,enter new markets, and gain access to new technologies and expertise.
- Economic Downturn: A global economic downturn can significantly impact travel demand, leading to decreased hotel occupancy rates and reduced profitability for Marriott.
- Technological Disruption: Emerging technologies like Airbnb and home-sharing platforms can disrupt traditional hotel models and pose a threat to Marriott's market share.
- Cybersecurity Risks: Marriott, like any large organization, is susceptible to cyberattacks that can compromise guest data, disrupt operations, and damage its reputation.
- Sustainability Concerns: Growing concerns about environmental impact and social responsibility can create pressure on Marriott to adopt more sustainable practices, potentially increasing operational costs.
- Changing Consumer Preferences: Evolving consumer preferences towards unique and authentic travel experiences may require Marriott to adapt its offerings and marketing strategies to cater to these new demands.
Marriott's strong brand reputation, diversified portfolio, and operational efficiency ensure its continued position as a leader in the hospitality industry. However, the company must remain vigilant about potential economic downturns, intense competition, and evolving consumer preferences. By capitalizing on emerging opportunities in technology, sustainability, and strategic partnerships, Marriott can navigate future challenges and continue its successful growth trajectory.
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