Marriott International Releases Annual Serve 360 Report

Rhea-AI Summary

Marriott International has published its 2023 Serve 360 Report, highlighting its progress on environmental, social, and governance (ESG) efforts. The report showcases achievements in environmental stewardship, social impact, and diversity in leadership. Key highlights include the installation of over 5,500 electric vehicle chargers at Marriott properties worldwide, transitioning to residential-sized bath amenities to reduce waste, and allocating $50 million to increase hotel ownership among historically underrepresented groups. Marriott also contributed over $5 million to support those impacted by the war in Ukraine and the earthquakes in Turkey and Syria. The company is committed to reaching net-zero emissions by 2050 and increasing diverse representation in leadership positions.

Positive

• Marriott has installed over 5,500 electric vehicle chargers at its properties worldwide.
• The company is transitioning to residential-sized bath amenities to prevent around 500 million small bottles from going to landfills annually.
• Marriott has allocated $50 million to increase hotel ownership among historically underrepresented groups.
• The company has contributed over $5 million to support those impacted by the war in Ukraine and the earthquakes in Turkey and Syria.
• Marriott is committed to reaching net-zero emissions by no later than 2050.
• The company aims to achieve executive gender parity by the end of 2023.
• Marriott plans to increase diverse representation in U.S. executive positions to 25% by the end of 2025.

Negative

• None.

Report Highlights Progress on Marriott's Environmental, Social, and Governance Efforts    

BETHESDA, Md., July 12, 2023 /PRNewswire/ -- Marriott International, Inc. (NASDAQ: MAR), today published its 2023 Serve 360 Report highlighting data as of year-end 2022, and shared the company's continued progress on its Environmental, Social, and Governance (ESG) efforts. Marriott's sustainability and social impact platform, Serve 360: Doing Good in Every Direction, guides the company's efforts towards its 2025 Sustainability and Social Impact Goals. The full report can be accessed on the company's Serve 360 website. Key report takeaways can be seen in the video below.

Experience the full interactive Multichannel News Release here: https://www.multivu.com/players/English/9178651-marriott-international-2023-serve-360-report/ 

"Since its founding in 1927, Marriott has placed a priority on serving its communities and creating a positive impact wherever we do business," said Anthony Capuano, President and CEO, Marriott International. "With our size and global scale, we recognize the part we can play in driving meaningful change, which we believe adds value for our business and for our customers. Marriott is integrating sustainability across hotel operations, design, and its supply chain, providing humanitarian aid to those in need, creating access to opportunity for underserved communities, and welcoming all who walk through our doors. We have been unwavering in our focus on driving change toward a more sustainable and equitable future."

Marriott's Serve 360 platform was launched in 2017 in support of the United Nations' Sustainable Development Goals. The 2023 report highlights progress made by Marriott and its properties around the globe, including:

Strengthening Environmental Stewardship

• Committed to set a near-term science-based emissions reduction target and set a long-term science-based target to reach net-zero emissions by no later than 2050.
• Developed a program to accelerate the installation and adoption of electric vehicle (EV) charging stations at hotels across the globe; as of year-end 2022, over 5,500 EV chargers have been installed at Marriott properties worldwide.
• Transitioning to residential-sized bath amenities, which the company expects will prevent around 500 million small bath amenity bottles from going to landfills each year when fully implemented.
• Supported mangrove restoration in Mexico and the UAE, reforestation in the U.S., and renewal of fisheries in Thailand and South America, helping to promote ecosystem resilience and protect biodiversity.

Stepping Up Social Impact

• Allocated $50 million to increase hotel ownership among historically underrepresented groups through "Marriott's Bridging the Gap" development program in the U.S. and Canada.
• Trained over one million managed and franchised associates since 2016 to recognize and respond to the signs of human trafficking.
• Spent nearly $660 million with diverse suppliers across the Marriott portfolio in 2022.
• With The J. Willard and Alice S. Marriott Foundation, contributed over $5 million to support those impacted by the war in Ukraine in 2022 and $2 million to support those affected by the earthquakes in Türkiye and Syria in 2023 through the Marriott Disaster Relief Fund, Marriott Bonvoy points donations, cash and in-kind giving by hotels.
• Volunteered more than 1.6 million hours in local communities around the world in 2022.

Driving Diversity in Leadership

• 8 of 13 members on Marriott International's Board of Directors are women and/or people of color as of May 12, 2023.
• Women made up 47% of Marriott's global executives (VP level and above) at year-end 2022, with a goal to reach executive gender parity by year-end 2023.
• People of color hold 22% of U.S. executive positions with a goal of increasing diverse representation to 25% by year-end 2025.

More details about Marriott International's ESG efforts and Serve 360 can be found at www.Marriott.com/Serve360.

Note on Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of federal securities laws, including statements regarding Marriott's ESG targets, goals, commitments, expectations, and objectives, and similar statements concerning possible future events or expectations that are not historical facts. We caution you that these statements are not guarantees of future performance or results and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including the risk factors that we identify in our Securities and Exchange Commission filings, including our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. Any of these factors could cause actual results to differ materially from the targets, goals, commitments, expectations, and objectives we express or imply in this press release. We make these statements as of the date of this press release, and we undertake no obligation to publicly update or revise these statements, whether as a result of new information, future events or otherwise.

Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 8,500 properties under 31 leading brands spanning 138 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.

 

 

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SOURCE Marriott International, Inc.

FAQ

What is the purpose of Marriott's 2023 Serve 360 Report?

Marriott's 2023 Serve 360 Report highlights the company's progress on environmental, social, and governance (ESG) efforts.

What are some key achievements mentioned in the report?

Key achievements include the installation of over 5,500 electric vehicle chargers, transitioning to residential-sized bath amenities, allocating $50 million to increase hotel ownership among historically underrepresented groups, and contributing over $5 million to support those impacted by the war in Ukraine and the earthquakes in Turkey and Syria.

What are Marriott's sustainability goals?

Marriott is committed to reaching net-zero emissions by no later than 2050.

What are Marriott's diversity goals?

Marriott aims to achieve executive gender parity by the end of 2023 and increase diverse representation in U.S. executive positions to 25% by the end of 2025.