November 17, 2010 - Marriott signs preferred partnership agreement with Brazil's largest real estate company for 50 GREEN Fairfield Inn Hotels:
Marriott's newly announced partnership with PDG Realty in Brazil will construct 50 new hotels in Brazil with an environmentally friendly design to gain energy efficiencies. In addition to constructing these energy efficient and environmentally friendly hotels, each partner (Marriott and PDG Realty) will make financial contributions to support the Amazon Rain Forest preservation. Contributions for this cause will be made through the Amazonas Sustainable Foundation.
This partnership is a strategic move for Marriott and moves this company into a market with significant growth potential. Brazil will be hosting two major sports events in the next six years. Further, domestic travel has increased in Brazil and makes this country a prime target for future growth in the travel industry.
For more on this new partnership, please visit: http://investor.shareholder.com/mar/releasedetail.cfm?ReleaseID=531223
Although I agree that the environment needs to be taken care of, I feel that sometimes these ventures are more of a money making opportunity for the companies providing the technology that allows a more environmentally friendly project.
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