from the International Franchise Association, for Significant
Contributions to Minorities in Franchising
|WASHINGTON, D.C. – March 16, 2006 – Marriott International, Inc. (NYSE:MAR)
received the 2006 Ronald E. Harrison Award, by the International Franchise
Association (IFA), for its significant contributions to minorities in franchising.
“We are honored to be recognized with the IFA’s highest award,” said Stephen P. Joyce, executive vice president of Owner and Franchise Services and North American full-service development, Marriott International. “We are excited about the success of Marriott’s Diversity Ownership Initiative and look forward to developing relationships with more women and minority franchisees and owners.”
Marriott launched the Diversity Ownership Initiative in 2005. Currently, there are over 300 Marriott hotels that are now owned, operated or under development by minorities and women; with a goal of reaching 500 in the next five years. Most recently, Marriott announced RLJ Development, owned by Black Entertainment Television (BET) founder Robert L. Johnson, expects to purchase 90 Marriott International hotels from White Lodging Services Corporation by year end 2006. RLJ Development will become one of Marriott’s largest franchisees upon completion of the transaction.
Marriott’s Diversity Ownership Initiative identifies and educates potential owners with significant business experience about the hospitality industry. Through workshops, Marriott brings together experts from the lending community, along with Marriott’s development and operations teams for ongoing support in preparation for opening.
Sixteen years ago, Marriott instituted a diversity program with a key component focusing on human resources training, development and recruitment. The award-winning program has had many successes–nearly tripling the number of women in executive positions and doubling the number of full-service women general managers in the past six years.
These achievements are reported to a subcommittee of Marriott’s Board of Directors, known as the “Committee for Excellence”, which is focused on achieving the highest levels of diversity in the lodging industry. The committee is chaired by board member George Muñoz, principal of Muñoz Investment Banking Group, LLC. Membership includes board members Debra L. Lee, chairman and CEO of BET Networks; Harry J. Pearce, chairman of Nortel Networks Corporation; and William J. Shaw, president and chief operating officer of Marriott International; as well as other senior executives who represent various disciplines throughout the company.
The International Franchise Association is the world’s oldest and largest organization representing franchising with members of more than 75 industries and in more than 100 countries. The award is named after Ronald E. Harrison, a retired PepsiCo Inc. senior vice president and IFA’s past chairman, for his positive role in implementing programs to ensure diversity and inclusion. He is currently chairman of the IFA Diversity Institute board of directors.
MARRIOTT INTERNATIONAL, INC. (NYSE:MAR) is a leading lodging company with over 2,700 lodging properties in the United States and 66 other countries and territories. Marriott International operates and franchises hotels under the Marriott, JW Marriott, The Ritz-Carlton, Renaissance, Residence Inn, Courtyard, TownePlace Suites, Fairfield Inn, SpringHill Suites and Bulgari brand names; develops and operates vacation ownership resorts under the Marriott Vacation Club International, Horizons, The Ritz-Carlton Club and Grand Residences by Marriott brands; operates Marriott Executive Apartments; provides furnished corporate housing through its Marriott ExecuStay division; and operates conference centers. Marriott is also in the synthetic fuel business. The company is headquartered in Washington, D.C., and has approximately 143,000 employees. In fiscal year 2005, Marriott International reported sales from continuing operations of $11.6 billion.
|Also See:||Marriott Expanding Diversity Initiative, Pledges $1 billion to Minority and Women Owned Suppliers Over the Next Five Years / February 2005|
|Norm Jenkins Named Senior Vice President for North American Lodging Development; Will Oversee Marriott's Diversity Ownership Initiative / December 2004|