| Diversity Ownership Initiative |
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Marriott International Diversity Ownership Initiative The Diversity Ownership Initiative is committed to doubling the number of hotels by Marriott® minority owners and franchisees in the next five years. Marriott's aggressive diversity ownership initiatives work to assist minorities who have significant business experience; are interested in developing hotels or acquiring or re-branding hotels; or those interested in taking equity positions in hotels under development by Marriott or its development partners. The outreach initiative provides minorities with additional operations support where appropriate, as well as flexible transaction terms that can include application and royalty fee support, key money, and various forms of credit enhancement. “The company demonstrates its commitment to increasing minority hotel ownership by guiding prospective owners through the process,” said Deanne Ayers-Howard, who in 1998 became the owner of the TownePlace Suites by Marriott® in Sterling/Cascades, Virginia. Marriott's minority recruitment success includes the opening of a $43 million Residence Inn by Marriott® in Washington DC, co-owned by four Native-American tribes.
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