Marriott's core value and culture (unchanged for 80 years) have provided the framework for Marriott's international success. The "Marriott Way" as it is called is about SERVING. Serving, the associates, the customer and the community.
Serving the associates and helping them achieve success is fundamental in serving customers and the community. Satisfied employees in the service industry leads to employees that are eager to serve and satisfy customers. Satisfied customers lead to repeat business and new customers. Increased growth, market share and profitability is fully dependent on satisfied customers in this industry.
How is Marriott doing it the "Marriott Way?" Associates do whatever it takes to take care of the customer, take pride in their surroundings and pay attention to detail. Personally speaking, these attributes have resulted in one satisfied (4 satisfied counting each family member) customer with every single stay at a Marriott branded hotel. I've had numerous "bad" hotel experiences, but not once have I ever been slightly dissatisfied at a Marriott. Again, personally speaking, I like the "Marriott Way" when it comes to serving customers.
Thursday, September 23, 2010
Monday, September 20, 2010
Investor Relations/Stock Update
September 20, 2010, @ 3.05PM EST:
MAR trading on the NYSE at $36.48, up $0.86 for the day (MAR opened at $35.80). Marriott International's stock price should be interesting to watch over the next few days/weeks to see if the partnership with AMLI has any effect.
MAR trading on the NYSE at $36.48, up $0.86 for the day (MAR opened at $35.80). Marriott International's stock price should be interesting to watch over the next few days/weeks to see if the partnership with AMLI has any effect.
Strategic Partnership for Marriott?
September 16, 2010, Marriott ExecuStay is awarded exclusive contract with AMLI Residential (the leading owner and developer of luxury apartment communities in the U.S.).
This partnership places Marriott's furnished apartment service in over 1,000 AMLI upscale apartments in luxury apartment communities, bringing Marriott ExecuStay totals to more than 5,500 units available in the U.S.
How does this strategic move affect Marriott? First, this eliminates the need for the executive lease (a six-month to a year lease) of rental property. This caters to those executives that are on an extended contract job or a professional that is transitioning to a new location/job.
Relocations may not be such a chore, now that Marriott will cater to these professionals and contract workers. Six-months in Marriott extended stay hotel or six months in a rental property? You decide, but don't forget your Marriott Rewards number!
This partnership places Marriott's furnished apartment service in over 1,000 AMLI upscale apartments in luxury apartment communities, bringing Marriott ExecuStay totals to more than 5,500 units available in the U.S.
How does this strategic move affect Marriott? First, this eliminates the need for the executive lease (a six-month to a year lease) of rental property. This caters to those executives that are on an extended contract job or a professional that is transitioning to a new location/job.
Relocations may not be such a chore, now that Marriott will cater to these professionals and contract workers. Six-months in Marriott extended stay hotel or six months in a rental property? You decide, but don't forget your Marriott Rewards number!
Wednesday, September 15, 2010
marriot Investor Relations/Stock Update
September 15, 2010. Marriott is trading on the NYSE at $35.80 (down $0.40 from yesterday's close of $36.20).
Bill Marriott Announcement
I wish I could say I was a Ritz-Carlton frequent customer. However, working for a public institution funded by the Commonwealth of Kentucky, suffice it to say, my income level is not quite where one would want it to be to frequent what I consider the "creme de la creme" of the hospitality industry.
Needless to say, Ritz Carlton (part of the Marriott brand) has just announced a rewards program that mirrors, no is greatly superior to, that of the company's Marriott Rewards Program. I've always been impressed with the manner win which hte Marriot Reards program operates (I can't be too dissappointed considering I have not had to pay for a hotel room over hte last six years due to my accumulation of rewards point when I trveled significantly for business). However, this new rewards or loyalty program offered to Ritz-Carlton guests is superior to any rewards program I have ever seen. Not only can guests earn free stays at Ritz-Carlton properties world-wide, exclusinve rewards from Ntional Geographic, Vera Wang, etc. are also available.
Now, to book my reservations..... Oh yeah, I work for the government. I can still dream though!
Needless to say, Ritz Carlton (part of the Marriott brand) has just announced a rewards program that mirrors, no is greatly superior to, that of the company's Marriott Rewards Program. I've always been impressed with the manner win which hte Marriot Reards program operates (I can't be too dissappointed considering I have not had to pay for a hotel room over hte last six years due to my accumulation of rewards point when I trveled significantly for business). However, this new rewards or loyalty program offered to Ritz-Carlton guests is superior to any rewards program I have ever seen. Not only can guests earn free stays at Ritz-Carlton properties world-wide, exclusinve rewards from Ntional Geographic, Vera Wang, etc. are also available.
Now, to book my reservations..... Oh yeah, I work for the government. I can still dream though!
Thursday, September 9, 2010
Reaching out to Gen X
Gen Xers make up approximately 31% of all leisure and 36% of all business travel and take about 3.5 leisure and 7 business trips annually (http://www.ustravel.org/news/press-kit/travel-facts-and-statistics).
What does Gen X want from the hospitality industry? A clean room? Fair price? Nice amenities? Sure, but what they desire the most is a relationship with their hotel chain. To accommodate to the taste of the X Generation, Marriott has undertaken major remodeling and renovation projects across the Flagship brand, Marriott Hotels and Resorts and to the Courtyard by Marriott brand, the business traveler's hotel. These renovations are catering primarily to the desires and demands of their most frequent travelers, the Gen X, with technology improvements such as HDTVs in each room, wireless access throughout, ergonomic furniture and decorations.
In addition to the renovations and remodeling to make the hotels more appealing ot this class of business and leisure traveler, there have been upgrades and changes to the marriott Rewards program (Marriott's relationship building tool) that include discounted travel packages and amenities that appeal to this generation.
What does Gen X want from the hospitality industry? A clean room? Fair price? Nice amenities? Sure, but what they desire the most is a relationship with their hotel chain. To accommodate to the taste of the X Generation, Marriott has undertaken major remodeling and renovation projects across the Flagship brand, Marriott Hotels and Resorts and to the Courtyard by Marriott brand, the business traveler's hotel. These renovations are catering primarily to the desires and demands of their most frequent travelers, the Gen X, with technology improvements such as HDTVs in each room, wireless access throughout, ergonomic furniture and decorations.
In addition to the renovations and remodeling to make the hotels more appealing ot this class of business and leisure traveler, there have been upgrades and changes to the marriott Rewards program (Marriott's relationship building tool) that include discounted travel packages and amenities that appeal to this generation.
Thursday, September 2, 2010
Stock info, upcoming investor event
Marriott International, (NYSE: MAR), stock price as of 12:12 EST on 9/2/02 is up $0.91 to $34.51.
MAR investor's anxious for October 6, 2010. Why? That's the date scheduled for the release of the company's third-quarter 2010 earnings. Marriott International operates on an odd quarter basis (i.e., they are not the typical calendar quarters). Marriott's 3rd Q spans the period from June 19 through Sept. 10, 2010.
One day after the release, company CFO and COO (Carl Berquist and Arne Sorenson, respectively) will hold a conference call/webcast to discuss the company's financial performance and earnings report. What will they discuss? Has the travel and hospital market gained ground it lost during the middle of the economic downturn? Tune in on October 7, 2010 at 10AM EST to find out. You may access the conference webcast at the following link:
http://investor.shareholder.com/mar/default.cfm
Click the link for 3rd Q earnings under "Recent and Upcoming Events."
MAR investor's anxious for October 6, 2010. Why? That's the date scheduled for the release of the company's third-quarter 2010 earnings. Marriott International operates on an odd quarter basis (i.e., they are not the typical calendar quarters). Marriott's 3rd Q spans the period from June 19 through Sept. 10, 2010.
One day after the release, company CFO and COO (Carl Berquist and Arne Sorenson, respectively) will hold a conference call/webcast to discuss the company's financial performance and earnings report. What will they discuss? Has the travel and hospital market gained ground it lost during the middle of the economic downturn? Tune in on October 7, 2010 at 10AM EST to find out. You may access the conference webcast at the following link:
http://investor.shareholder.com/mar/default.cfm
Click the link for 3rd Q earnings under "Recent and Upcoming Events."
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