Marriott International signs in at the top of the lodging industry. The company is one of the world's leading hoteliers with some 4,400 operated or franchised properties worldwide. Its hotels include such full-service brands as Renaissance Hotels and its flagship Marriott Hotels & Resorts, as well as select-service and extended-stay brands Courtyard and Fairfield Inn. It also owns the Ritz-Carlton luxury chain and resort, and manages about 45 golf courses. The Marriott family, including J. W. Marriott Jr., owns about 30% of Marriott International. The company acquired Starwood Hotels & Resorts Worldwide in 2016.
While the bulk of its hotels are located in the US, about 15% of its properties are international. Marriott has operations in more than 80 countries in the Americas, the UK and Ireland, the Middle East and Africa, Asia, Australia, and Continental Europe.
Marriott reported $14.4 billion in revenue for fiscal 2015. That was an increase compared to the $13.7 billion the company reported as revenue for fiscal 2014.
Marriott's net income has been trending upward since fiscal 2011. During fiscal 2015 its net income increased by 14% compared to the prior fiscal period. The primary reason was increased total sales.
The company ended fiscal 2015 with $1.4 billion in cash flow from operations. That was an increase of 17% compared to fiscal 2014.
Marriott's business model focuses on managing and franchising hotels, rather than owning them. More than 50% of its hotel rooms are operated by franchisees that pay the company fees and royalties, as well as a percentage of their food and beverage revenue.
Mergers and Acquisitions
In 2016 Marriott acquired Starwood Hotels & Resorts Worldwide in a $13.3 billion deal. The merger created the world's biggest hotel company with more than 5,500 hotels and about 1.1 million rooms in some 100 countries worldwide. The deal gave Marriott more hotel properties in Asia, Europe, and Latin America. The two companies have combined their respective customer loyalty programs, but most of the hotels in the portfolio will retain their current branding.