Lodging Leader to Talk About Business and Tourism Opportunities at US-Africa Business Forum
BETHESDA, MD, USA – August 4, 2014 – Joining U.S. President Barack Obama, 200 corporate CEOs from the U.S. and Africa and over 45 African heads of state at the US-Africa Business Forum tomorrow, Marriott International, Inc. (NASDAQ: MAR) President and CEO Arne Sorenson will share the company's plans to reach over 150 hotels across 16 African countries, resulting in more than 25,000 jobs, between 2014-2020.
This growth comes on a base of 14 hotels and 10,000 employees prior to the company’s acquisition of South Africa’s Protea Hotel Group in April. The Protea investment lifted Marriott into position as the largest hotel company in Africa, with the addition of 116 managed and franchised hotels, approximately 10,000 rooms and 15,000 employees across seven countries in sub-Saharan Africa.
In addition to its recent Protea acquisition, Marriott International has plans to open nearly 40 additional hotels with more than 6,000 rooms, adding more than 10,000 employees, at both its managed and franchised hotels in the following 13 African countries by 2020: Algeria, Benin, Egypt, Ethiopia, Ghana, Gabon, Mauritius, Morocco, Nigeria, Rwanda, South Africa, Tunisia, and Zambia.
Sorenson discussed Marriott’s commitment to Africa and support of the growing travel industry by easing travel to and within the continent: “It’s a great time to do business in Africa and Marriott is at the table helping to lead the discussion on trade and investment across the continent. African leaders are looking at ways to spur economic growth by lowering barriers, such as onerous visa regimes. Travel is trade and the more Africa embraces Smart Travel policies that encourage the free flow of people, the quicker growth will come,” says Sorenson.
In Rwanda, Marriott has partnered with a vocational school, Akilah Institute for Women, to bring 41 women from the school to work and train in Marriott hotels in Dubai. The women are getting on-the-job skills, leadership training, and will be prepared after 18 months to return, as part of the management team, in 2016 to open the company’s first new-build Sub-Saharan Africa hotel – the Kigali Marriott Hotel.
“Africa is going through an economic transformation,” says Sorenson. “Coupled with that transformation is a mutual promise for opportunity that Africa holds—for us as a business and for the people who are hired, trained and work in hotels across our portfolio. For them, it is like hitting the lottery and shows what a powerfully good force travel can be in the world.”
Editor’s note: Arne Sorenson will be available for media interviews during the US-Africa Leaders Summit. Tuesday, August 5, 2014 Mandarin Oriental 1330 Maryland Avenue, SW Washington, DC 20024 12:00 noon The Muze
NOTE: The statements about Marriott’s plans for growth in Africa are “forward looking statements" within the meaning of federal securities laws, not historical facts, and are subject to a number of risks and uncertainties, including supply and demand changes for hotel rooms; competitive conditions in the lodging industry; relationships with clients and property owners; the availability of capital to finance hotel growth; and other risk factors identified in Marriott International, Inc.'s most recent quarterly report to the US Securities and Exchange Commission on Form 10-Q; any of which could cause actual results to differ materially from those expressed in or implied by our statements. These statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda, Maryland, USA, with more than 4,000 properties in 79 countries and territories. Marriott International reported revenues of nearly $13 billion in fiscal year 2013. The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands, including: Marriott Hotels, The Ritz-Carlton, JW Marriott, Bulgari, EDITION, Renaissance, Gaylord Hotels, Autograph Collection, AC Hotels by Marriott, Moxy Hotels (expected opening in 2014), Courtyard, Fairfield Inn & Suites, SpringHill Suites, Residence Inn, TownePlace Suites, Protea Hotels, Marriott Executive Apartments and Marriott Vacation Club timeshare brand. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 45 million members. For more information or reservations, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.