Christie Matherne, Credit Card Writer
@christie_matherne
Marriott owns about 1% of the 7,200 hotels and resorts that belong to its portfolio of 30 lodging brands. Rather than owning the other 99% of its hotels, Marriott holds management agreements with many of these properties, and licenses the Marriott name to franchisees.
Some of the hotels currently owned by Marriott include the Elegant Hotels Group, Starwood Hotels & Resorts, and the W New York at Union Square. However, many of the hotels Marriott currently owns will be sold, and the company will likely retain long-term management agreements with the new property owners. This is part of Marriott’s business model, according to the company’s annual report.
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