Marriott Intl Inc Stock Price, News & Analysis

Marriott International has launched a $50 million program named "Marriott's Bridging The Gap" aimed at increasing hotel ownership among historically underrepresented groups like Black, Hispanic/Latino, Native American/First Nation, and women in North America. Announced at the 44th Annual NYU International Hospitality Investment Conference, the initiative will provide financial incentives for new franchise applications submitted after June 1, 2022. Over three years, it’s projected that cumulative development projects will achieve a total asset value of up to $1 billion.

The Ritz-Carlton has officially opened its doors in Amman, Jordan, introducing a new standard of luxury hospitality. Located in the Fifth Circle, the hotel features 228 rooms, including 34 suites, designed to reflect Jordan's rich culture and history. Guests can enjoy diverse dining options, including the Italian restaurant Roberto's, and extensive facilities for corporate and leisure travelers, such as a Grand Ballroom and a full-service spa. According to the management, this opening marks a significant milestone, redefining luxury and hospitality in the region.

On June 1, 2022, Marriott International announced that CEO Anthony Capuano will speak at the 2022 Goldman Sachs Travel and Leisure Conference on June 7 at approximately 9:20 a.m. ET. The remarks will be available via a live webcast. Interested parties can access the webcast through the Marriott investor relations page and it will be available until August 30, 2022. Marriott operates over 8,000 properties worldwide, providing a diverse portfolio of accommodations under various brands, along with their travel program, Marriott Bonvoy®.

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Marriott International (NASDAQ: MAR) has partnered with Ant Group to enhance its digital operations in China by offering Alipay members exclusive benefits when signing up for the Marriott Bonvoy Rewards Program. This initiative aims to expand Marriott's customer base, building on its previous success of enrolling over 10 million members since 2017. The collaboration will focus on improving consumer experience and providing innovative offerings, particularly for high-net-worth clients. New benefits include digital coupons and reduced costs for meals at select Marriott hotels.

Marriott International has signed an agreement with The Red Sea Development Company to introduce the Ritz-Carlton Reserve brand in Saudi Arabia. Set to open in 2023, 'Nujuma' will be the first Ritz-Carlton Reserve in the Middle East, located within a luxury regenerative tourism project covering 28,000 square kilometers. The resort will feature 63 luxurious villas and a variety of high-end amenities, including a spa and multiple dining options. The initiative underlines Marriott's commitment to sustainability within the tourism industry.

Marriott International (NASDAQ: MAR) has announced it will redeem all $173,388,000 of its outstanding 3.250% Series L Notes on June 15, 2022. The redemption price will include 100% of the principal amount plus accrued interest up to that date. Post redemption, the Notes will cease to accrue interest and will no longer be outstanding. Marriott cautions that forward-looking statements in this release aren't guarantees of future performance and are subject to various risks and uncertainties. For more details about the redemption, visit Marriott's investor relations website.

Marriott International has launched the Marriott Media Network, the first global omnichannel advertising solution in the hospitality industry. This initiative, developed in collaboration with Yahoo, aims to enhance curated content experiences for travelers. Initially targeting guests in the U.S. and Canada, it will expand globally to Marriott Bonvoy's 164 million members. The network promises advertisers a unique chance to engage with high-intent travelers through various media formats. This partnership aims to boost growth and redefine advertising strategies in a cookieless environment.

Equity Residential (NYSE: EQR) mourns the passing of Raymond “Ray” Bennett, a Board member since 2018, who died at 53. As President of U.S. and Canada Franchising at Marriott International (NASDAQ: MAR), Bennett contributed significant operational expertise to the company. Equity Residential's President and CEO, Mark J. Parrell, expressed deep condolences and highlighted Bennett's positive influence and contributions. Equity Residential focuses on managing residential properties in thriving urban areas, owning 310 properties with 80,227 apartment units across major U.S. cities.