Marriott International: Managerial Analysis
Today the tourism industry is one of the largest rapidly developing sectors of the world economy. This is largely due to social, economic and political progress, as over the past decade, tourism has become available to the general public. Along with the growth of the total number of tourists, the tourism infrastructure and its main component – the hotel sector – have developed noticeably. Over the years, the hotel business has undergone different models: from family ownership to participation in international hotel chains. Thus, an example of the most effective ownership in tourism is the establishment of hotel chains – such as Marriott International.
As one of the strongest brands in the world, Marriott has won unconditional consumer acceptance, and has an incomparable international reach and a reputation for excellence. According to Marriott International Reports Second Quarter 2021 Results (2021), the company’s “second quarter net income totaled $422 million, while worldwide development pipeline totaled 2,750 properties and nearly 478,000 rooms” (p. 1). Thus, the corporation has a very indicative history of development and transformation through constant entrepreneurial innovation. The crucial feature of Marriott International is the understanding of the full importance of intangible assets, which in turn contribute to the immediate development of this industry. Their modern hotel management system is currently referred to as an outstanding example for novice hotel businesses. This paper aims to assess and evaluate Marriott’s managerial practices through an in-depth analysis, as well as provide recommendations for their future improvement.
Marriott International Reports Second Quarter 2021 Results. (2021). Marriott. Web.