Marriott International is a global leading hospitality company that manages and franchises a broad portfolio of hotels and related lodging facilities. Known for its innovative approaches to customer service, Marriott has grown significantly through mergers, acquisitions, and strategic alliances, allowing it to expand its presence and diversify its offerings across various market segments.
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Marriott International was founded in 1927 by J. Willard Marriott and has grown to include more than 7,000 properties across over 130 countries.
The company's acquisition of Starwood Hotels & Resorts in 2016 made it the largest hotel chain in the world, enhancing its portfolio with brands like Sheraton, Westin, and W Hotels.
Marriott's approach to mergers and acquisitions often focuses on adding brands that cater to different market segments, such as luxury, premium, and select-service hotels.
Marriott has established strategic alliances with various companies to enhance guest experiences, including partnerships with airlines, credit card companies, and technology firms.
The company emphasizes sustainability and social responsibility in its operations, aiming to reduce its environmental footprint while providing quality hospitality services.
Review Questions
How has Marriott International utilized mergers and acquisitions to strengthen its market position in the hospitality industry?
Marriott International has strategically used mergers and acquisitions to enhance its competitive edge by expanding its portfolio and reaching new markets. A significant example is the acquisition of Starwood Hotels & Resorts, which not only increased Marriott's number of properties but also diversified its brand offerings. This strategy allows Marriott to cater to various customer preferences and maintain leadership in the ever-evolving hospitality landscape.
Evaluate the role of strategic alliances in Marriott International's business strategy and their impact on customer experience.
Strategic alliances play a crucial role in Marriott International's business strategy by enabling the company to enhance customer experiences through partnerships. Collaborations with airlines improve travel convenience for guests, while alliances with technology firms offer innovative solutions like mobile check-ins. These partnerships not only elevate the overall guest experience but also create additional revenue streams for Marriott, showcasing the effectiveness of strategic alliances in achieving business objectives.
Analyze the implications of Marriott International's approach to sustainability on its brand image and operational practices within the hospitality industry.
Marriott International's commitment to sustainability significantly enhances its brand image as a responsible corporate entity. By implementing eco-friendly practices such as reducing energy consumption and minimizing waste, Marriott positions itself favorably among environmentally-conscious travelers. This focus on sustainability not only attracts a growing segment of eco-minded consumers but also influences industry standards, encouraging other hospitality businesses to adopt similar practices for operational efficiency and enhanced customer loyalty.
Related terms
Acquisition: The process by which one company purchases most or all of another company's shares to gain control of that company.
Franchising: A business model where a company (franchisor) allows an individual or another company (franchisee) to operate under its brand name in exchange for fees and royalties.
Strategic Alliance: A partnership between two or more companies that share resources and capabilities to achieve mutually beneficial objectives without merging into a single entity.