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By Bloomberg Business News | November 13, 1993
NEW YORK -- Marriott International Inc. said it filed with the Securities and Exchange Commission to sell $150 million of 10-year bonds.The SEC filing follows a month after Marriott International was created by Marriott Corp.'s split in two. The bond sale would be the first since the reorganization proposal in 1992, which enraged bondholders who saw their investments' value plunge as much as 30 percent.Marriott's split resulted in Marriott International, a profitable hotel management company; and Host Marriott Corp.
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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | April 26, 2013
Bethesda-based Marriott International warned the state that it will lay off 35 employees in June, and potentially several hundred others later in the year, the Maryland Department of Labor, Licensing and Regulation said Friday. The company's layoff warning notice said it is reorganizing and outsourcing some "information resources" operations. The initial cuts are planned for June 28 in Bethesda, Frederick and Gaithersburg. Marriott said several hundred more employees could be laid off between July and December.
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BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | July 8, 1994
Marriott International Inc.'s profits rose 17 percent in the second quarter, as the improved economy paid off in the form of higher hotel occupancy rates and a 3 percent-plus gain in average room rates.The Bethesda-based hotel management company said it earned million, or 36 cents a share, for the 1994 second quarter, which ended June 17. That figure compares with a pro forma 1993 second-quarter profit of $41 million and per-share earnings of 32 cents.The bigger profit was achieved on a 4.8 percent sales gain, to $1.98 billion.
NEWS
By Steve Kilar, The Baltimore Sun | November 23, 2011
A Hungarian man's attempt to blackmail a U.S. hotel chain into giving him a job landed him in U.S. custody, federal prosecutors said Wednesday. Attila Nemeth, 26, pleaded guilty to hacking the computer system of Marriott International Corp. and threatening to release the company's proprietary information unless the chain gave him a job maintaining the company's computer system, according to a statement by Maryland's U.S. Attorney's Office. Marriott is headquartered in Montgomery County.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,SUN STAFF | September 26, 1995
Marriott International Inc. said yesterday its profits jumped 24 percent during the 12 weeks that ended Sept. 8, the third quarter of the Bethesda hotel management giant's fiscal year.The company said it was helped by a strong economy that also has helped other hotel chains."All of our lodging brands are benefiting from favorable conditions in the U.S. hotel industry," company Chairman J. W. Marriott Jr. said. The company said it expects to continue strong earnings gains into 1996.Through July, the U.S. hotel industry had filled 66.3 percent of its available room nights this year, compared with 65.2 percent for the same period last year, said Randy Smith, president of Smith Travel Research Inc. in Hendersonville, Tenn.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | April 12, 1996
Marriott International Inc. continued to take advantage of the hotel industry's positive momentum in the first quarter, posting a 21 percent gain in net earnings.The Bethesda-based lodging, resort and senior living community operator generated net income of $63 million, or 47 cents per share, with increases in virtually every segment of its business.The earnings increase came amid revenue growth of 7 percent to $2.2 billion in the period that ended March 22, as compared with the same period a year ago."
BUSINESS
By Liz Bowie and Liz Bowie,SUN STAFF | April 18, 1997
Marriott International Inc. reported yesterday that its first-quarter net income rose 22 percent, to $77 million from $63 million, the result of growth in international markets and higher rates for its hotel rooms.The Bethesda-based hotel operator earned 57 cents a share for the quarter ended March 28, compared with 47 cents a share for the corresponding period the year before. Analysts had projected that earnings would be between 55 cents and 65 cents a share.Sales were up 18 percent, to $2.6 billion, from $2.2 billion in the 1996 period.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | April 17, 1998
Marriott International Inc. yesterday reported that its first-quarter income jumped 29 percent over the same period a year ago, the result of a healthy lodging industry, acquisitions and increases in average room rates.The Bethesda-based hotel giant generated net income of $89 million in the three-month period ended March 27, fueled largely by its purchase of the Renaissance Hotel Group N.V. and a 9 percent gain in daily average room rates."The U.S. lodging industry remains very robust, and Marriott lodging continues to set the pace in terms of both [revenue available per room]
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | April 14, 2000
Bethesda-based Marriott International Inc., the country's largest hotel operator, posted yesterday essentially flat earnings for the quarter ended March 24. Marriott posted earnings of $94 million, or 37 cents a share, after a one-time write-off by its food service division of a contract with Boston Chicken Inc. Without the charge, earnings were $103 million, or 40 cents a share, beating consensus analysts' estimates by a penny. In the first quarter of 1999, Marriott earned $100 million, or 38 cents a share.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | July 9, 1998
Marriott International Inc. reported yesterday that its earnings in the second quarter rose to the highest level in the company's 41-year history, thanks to gains in room rates and additions to its portfolio.The Bethesda-based company's net income of $101 million, 37 cents per share, was 20 percent higher than in the comparable period a year ago, further evidence of the strong U.S. economy and the hotel industry's continued strength. Marriott's total sales in the three months that ended June 19 also increased significantly, to $2.5 billion, a 16 percent gain from the corresponding period in 1997.
BUSINESS
October 17, 2007
Marriott International Inc. Shares rose $1.46, or 3.6 percent, to $42.14. The stock rose on speculation that Bethesda-based Marriott, the world's largest hotel operator, might be purchased, according to traders.
BUSINESS
By BLOOMBERG NEWS | October 8, 2004
BETHESDA - Marriott International Inc., the largest U.S. hotel company, said yesterday that its third-quarter earnings climbed 45 percent, the biggest gain in almost two years, as business and leisure travel picked up. Net income increased to $133 million, or 56 cents a share, from $92 million, or 37 cents, a year earlier. Revenue in the quarter that ended Sept. 10 rose 9.2 percent to $2.3 billion, the company said. It was expected to earn 55 cents a share. Marriott, the first major U.S. hotel company to report quarterly results, charged higher rates and added 6,000 rooms as business and leisure bookings, particularly from the United Kingdom and China, rose at its North American hotels.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | October 10, 2003
NEW YORK - The owner of a Midtown Manhattan hotel operated by Marriott International filed for Chapter 11 bankruptcy protection yesterday, contending that Marriott's hotel-management practices forced the move. The owner, 866 3rd Next Generation Hotel, a New York limited liability company, said in an accompanying affidavit that Marriott had engaged in mismanagement and commercial bribery and taken kickbacks while managing the Courtyard New York Manhattan/Midtown East on Third Avenue. In the affidavit, the owner said its "financial collapse is largely attributable to Marriott International's repeated breaches of its fiduciary duties, mismanagement and malfeasance."
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | November 20, 2002
The developer of the waterfront Ritz-Carlton hotel and condominium complex, stalled multiple times by the economy and other hurdles, said yesterday that the nearly 4-year-old proposal is back on track. Edward V. Giannasca II, who took over as the sole developer of the $190 million Ritz project about a year ago, said he still has no groundbreaking date. But he does have a signed agreement from the Ritz-Carlton Hotel Co. to operate the hotel and condos for 20 years and a new investor who can bring substantial cash to the project.
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | November 2, 2002
More than 200 workers are to be laid off Dec. 1 when Marriott International closes a food distribution center in Savage, company officials confirmed yesterday. The facility is being shut as part of Marriott's plan, announced several months ago, to get out of the food distribution business. The 211 employees in Savage were notified of the layoffs Oct. 1, said Tom Marder, a company spokesman. He said the workers would be eligible for severance pay, subsidized health and dental insurance and outplacement services.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | June 19, 2002
There isn't a Ritz-Carlton Hotel in Maryland, but by next summer the luxury chain's headquarters will be in Montgomery County. Ritz-Carlton Hotel Co. Inc. announced yesterday that it will move to Maryland from Atlanta to be closer to its parent, Bethesda-based Marriott International Inc., bringing 140 new jobs. No state incentives were involved in the deal, state and company officials said. Marriott, one of the state's largest employers, was given one of Maryland's most generous incentives packages - worth $44 million - in 1999 to keep its headquarters in Maryland and add jobs.
BUSINESS
By Shanon D. Murray and Shanon D. Murray,SUN STAFF | October 2, 1998
Marriott International Inc. reported yesterday net income of $86 million for its third quarter.The results came at a time of slowing growth in the lodging industry and represented a 16 percent increase over the corresponding period last year.However, the Bethesda-based company, the nation's largest hotel company, lowered its expectations for revenue and earnings growth to the mid-teens from 20 percent.Marriott's stock fell $2 per share to close at $21.875 yesterday.In the quarter that ended Sept.
BUSINESS
By Eileen Ambrose and Eileen Ambrose,SUN STAFF | December 3, 1999
Grace Lashley worked for 48 years at Hot Shoppe restaurants, so yesterday, on the last day of the last Hot Shoppe, she wore a red blazer.The 66-year-old breakfast cook figured the bright jacket would camouflage her sadness."
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | April 5, 2002
In a sign that Host Marriott Corp. is distancing itself from its parent company, Marriott International Inc., executives from each will give up seats on the other's board, according to a filing with the Securities and Exchange Commission. Marriott International spun off Host Marriott in 1993, largely to own Marriott's real estate. Marriott International wanted to focus on hotel management and franchising its brands. Host Marriott, acting as an independent public company, later also began buying non-Marriott hotel brands such as Hilton and Hyatt.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | March 29, 2002
Crestline Capital Corp., the Bethesda-based hotel management company, said yesterday that it has agreed to be acquired by a Spanish hospitality firm for $602 million and plans to move its offices to Virginia. The privately held Barcelo Hotels & Resorts, seeking to expand its U.S. presence, is to pay $34 a share in cash for Crestline's assets and create a U.S. affiliate called Barcelo Crestline. Crestline shares rose $1.94 to $33.64 yesterday. Crestline spun off from Host Marriott Corp.
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