How Marriott Became The Biggest Hotel In The World, And What’s Next For The Hotel Giant
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- เผยแพร่เมื่อ 7 ส.ค. 2021
- Marriott International has been a stalwart in the hotel industry for decades. However, the hotel giant - along with its competitors - was hit hard by the Covid-19 pandemic in 2020. Last year was the worst on record for U.S. hotels, and Marriott was particularly hard hit. The company posted in 2020 its first full-year loss in more than a decade. Despite those challenges, the rollout of vaccines and signs of pent-up travel demand has led to a renewed sense of optimism for the hotel operator.
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How Marriott Became The Biggest Hotel In The World, And What’s Next For The Hotel Giant
Every family has a person who breaks the chain of poverty. I hope you will be that person.
fishing for likes
I agree
Amen
I am!!!!!!!!
Dear CNBC,
You're doing a great work with these docu-snippets.
Thanks
@@MisaloSloe he is probably indian
I agree I enjoy them too. Thank you CNBC
@@delajny9567 ??
You mean with these covert advertisements?
It's easy to be the biggest when you buy out your competitors like Starwood Hotels.
Inorganic Growth
This is an unfair comment. Getting to the top is already the most challenging part. Why did the vice versa not happen: Starwood Hotels buy Marriott?
Give company the credit
📀 SERCH ADITYA RATHORE, HE ALSO MAKES INFORMATIVE CONTENT LIKE CNBC
@@georgevan2606 If it's all about money and all you wanna do by the end of the day is make a buck, then sure they get the credit.
@@Skipbo000 you open a business to make money, don't you? That is the point of a business. I don't understand the point you tried to make
I can honestly say Marriott is my favorite pick. The staff is always very kind/respectful, the rooms are freakishly clean, and their locations skew modern. Staying here sure does make me regret coming home sometimes. Worth mentioning is also the fact that they aren’t unfair on pricing. I mean you can get very expensive rates but it’s not typical. For reference: I usually book a month or two in advance. Last thing I will say is the pantry items you can charge to your room aren’t grossly overpriced, they don’t taste old either, and whatever water softener system they use works really well + the food you can swing by and grab is pretty tasty.
How much are they paying you?
@@ericcarabetta1161 LOL Yeah, b/c he ain't saying NOTHING that I haven't experienced at a Hilton property. PLUS, the Hilton beds are magic!
@@ramenlover1727 Definitely not ok! I could understand if you hate them…that’s pretty nasty.
@@A22DNAL perhaps the experience varies by region, but I’ve rarely enjoyed my stays at Hilton. I mean the lobbies and breakfast can be fantastic, but the rooms are dated in Texas. And even in Orlando Hilton feels subpar. I’m sure they have great locations out there, but it hasn’t been consistent imo
Bot
Loving this series, CNBC. Though, I did have a chuckle when you had a aerial shot of Waikiki showing the Hyatt hotel (rainbow exterior wall) rather than any of the Marriott/Bonvoy properties mere meters away
Marriott brand doesn’t carry the same respect as it used to. All these cheap franchises really tarnish the brand.
Welcome Logistics in Viet Nam : th-cam.com/users/CFSLogistics
What does that have to do with profit margin?
fr bro we at the hilton got it on lock tho dawg
Funny you say that. Marriott doesn't have a chain with $70/night rooms like the others.
As the title is how Marriott became the biggest chain, than Mr Ed Fuller’s contribution in expanding Marriott Internationally is missed or ignored.
air-BNB is no cheaper than these hotels…😩😩😩
Ridiculous cleaning fees aswell as service fees
and Airbnb is still loss making. so they might need to raise prices again?
@@MarkWTK they have a loss because they have too many employees and pay their executives too much lol
Air bnb sucks
CNBC makes good informative videos. In these videos we usally learn about various companies and also learn about the lives of various successful self-made people.
I love this kind of videos, informative but entertaining to watch at the same time
🟩SERCH ADITYA RATHORE, HE ALSO MAKES INFORMATIVE CONTENT LIKE CNBC
you guys just gave me a whole chapter 4 and 5 to write in my project ,Thank you so much
write about teh hilton instead
I love how I havent heard any of the hotel companies mentioned in this video.
I used to think Airbnb was a competitor to Marriott, Hilton and hyatt. Until I stayed in one
What happened?
Price being equal I'd rather stay in a hotel. Only reason to do Airbnb anymore is because you're bringing your dog or you have a big groups of people with you.
Right so not worth it. With the hotel you feel safe and secure with Airbnb you feel like a stranger in a strange home
People might prefer Marriott over Airbnb given its reputation in patron service. Airbnb might have to deal with lesser growth for few more years to follow until confidence restores.
lol f the marriott dawg
saying marriott is better than airbnb is an understatment.
With Airbnb you have no guarantee for quality, hygiene, and safety. International brands suchs as Marriott, Accor, IHG etc have stright guidelines regarding fire safety, HACCP, guest service & recognition, branding, etc.
To even compare them is beyond ridiculous.
Have been Ambassador level for 3 years in a row. Thanks to this pandemic, I am traveling more than I used to.
Are you involved with marriot?
Marriott doesn't pay great, but I have benefits, we get bonuses, matched 401k and the owners really care about us. They come personally to thank us at Christmas every year. We also get employee lunches once a month. It's a stark contrast to some other employers. I just wish people tipped more than a dollar and change for their service, it would help a ton. I work a residence inn and some people stay for a year at a time. Other people completely trash the rooms and give us way more work than necessary. It's the guests I have a problem with, not the company.
They've also bought Protea hotels here in South Africa.
100% pointless to talk about 2020 numbers for any company.
No..not at all.
2020: I got a massive debut
2021: Mate, debut shall be ignored from last year. Minus financial statements did not occur nor affect future financial estimates
I was working with Marriott and not complains coz a learnt good and bad things of the company as I did work before to a Westin that I found awesome long time ago, then by luck (I wasn't expected to be hired) I entered to the french chain Sofitel and it was so new to me and so much fun as learnt things in the french way that was unforgettable. Anyway, I ended in a huge Sheraton 1000 rooms building almost in the process when Marriott got Starwood with all the brandsand to be honest it wasn't that exciting anymore because Marriott started to change things from Sheraton step by step to has everything in the Bonvoy program of Marriott that was disappearing the essence of Sheraton and previous Starwood legacy, like me and co workers said Its not fun anymore, is like all the same scripts but in different brands.
"GUESTS ARE ALWAYS RIGHT" I want to meet this person who came up with the idea of this illogical theory ever in the hotel Industry.
I believe this was Cesar Ritz, one of the original founders of the Ritz-Carlton - Which I wholly disagree with the concept too.
It was that old DC hotel carpet. They cut it up and sent a piece to each hotel location, then they cast a spell to give each location a magical enhancement.
I also worked in Sheraton grand it was an amazing experience with great facilities but unfortunately, lose my job due to covid19 looking to rejoin again
You should be able to rejoin easily. There’s lack of workforce right now to cope for spike in demands...
@@ashman4827 yes I am trying But it's still flight restrictions here
If there’s a CEC in your city you might get a Job for now, the y are desperate to have as many people as possible right now, unless you cant stand answering calls
The MD from Jefferies kept changing his background!
Lol yes
I was working at Marriott Pere Marquette Hotel for 2 years til covid hit then gotten laid-off and came back and it's still difficult to this day because it's not enough worker 😔
Which country ?.
That's a good property
@@senpong1594 USA Peoria Illinois to be exact
@@aaronduncan6655 it is but it's being managed by davidson hospitality group and they don't know what their doing
Amazing
After party at the Marriott ~
My new idea open hotels in Puerto Rico, Boise, North Dakota, Mississippi Virgin islands, and new Hampshire
Why is he saying Marriott like that LOL
How do you say it
😂😂😂
@@blink182bfsftw Marr-re-yacht... 🤣🤣🤣
Jermaine C RIGHT thats how i say it lol
He is pronouncing it like the company does. I was also pronouncing it Marriyacht until I did my travel agent training. 🤩
Not sure why Marriott is building a Ritz-Carlton in downtown Portland. Why would I want to view tents from my room?
Been Ambassador and Lifetime Titanium Elite with Marriott for over 5 years - sadly, the chain is deteriorating quickly and ignoring their loyal guests. Elimination of services is not noted by leisure travelers, however, the business travelers feel the impact of these eliminations and the poorer quality of food and other amenities. Don't get me started on the astronomical cost of the rooms - Fairfield and Residence Inn charging upwards of $250 a night is ridiculous! Last month, I opened my Hilton rewards account to start moving some of my business to another brand.
I’m a Marriott employee and I also keep an eye on the hotel industry in general. Sadly to say, you’re partially right. But there’s a little bit more to it. It’s not just Marriott hotels that have leaned out and started offering less services/lessening their hours for certain services, but it’s the whole hotel industry as a whole. I have friends who work for Hilton, IHG, Wyndham, and they say it’s the same with them. I think hotels have fundamentally changed after Covid, and are trying to be less labor intensive. Also, I don’t think Marriott is necessarily going downhill. Hotel properties really depend on who owns them. You can goto a courtyard in Chicago, or even a smaller suburb city, and it could be perfect, but then you could also travel 100 miles to goto another courtyard, and have it be way shittier. All depends on local management so it can be sort of a mixed bag.
Mo-Mo "Family-owned" and a non-family member Sorenson....there are quite a few Sorensons employed by the City of Mesa, AZ
Great journey
Marriott is planning on taking over a thirteen year stalled Las Vegas project and spending $1.4B on it. I’ll cover this on my channel soon.
I'm watching for it! Thanks!
Its super busy now demand is so high and the rates r higher still ppl r coming 🥳✌️
Muy orgullosa de trabajar para Marriott marquis en san Franicsco por 32 years the one on market st
Haven’t stayed in a hotel for years. I did stay at the Marriott in Waikiki once I don’t remember it being anything special but I didn’t really care spent all the time outside of the room besides sleeping.
ok
Airbnb is pretty much better in every way
@@Sanyu-Tumusiime Why do you prefer airbnb?
@@charleskayser4646 cheaper. larger area. more authentic experience. helping a local family.
@@Sanyu-Tumusiime Airbnb is only good for long term stays and big family’s on a budget, hotels are better in every way, they offer pools in house dining, breakfast, daily housekeeping, etc
Say Hi, Section Cayenne! 😂
TH-cam is stalking me at my job now… lol 😂 how they know I work at a Marriott 🤣
Very interesting, Im going to make a hotel stock comparison!
Marriott figured out how to make alot of money while still maintaining averageness.
some of their hotels are average. their mid-tier brands and higher are above average.
Below average
I cant stand the narrators voice he has too much enthusiasm and energy
Cause he sponsored by Marriott.
They would have better business if they weren't stingy on internet usage.
All you gotta do it become a bonvoy member (free) and boom you got free internet each time you stay at a Marriott
Marriott continue giving a good service to our guest.
Don’t expect the same experience if there’s not enough staff to keep it maintained properly. Everything changed how hotels do business after Covid, I know because I work in one.
They give less salary to his lower staff... And gave them mental stress...long Working hours... No... Over time... And less salary
@@ritugaur8797 welcome to the rest of society. We all had to do whatever it takes to survive.
Do a video on Hilton hotels
Marriott: "Biggest Hotel"
Airbnb: "They don't know what they're talking about."
They need to get a better cleaning solution for their showers. It's damn near inevitable to find mold in a Marriott shower.
Worked for marriott for many years and best profit is in Residence INN hotels, makes more money then rest of the brands..
I will never go to any of there hotels because of the controversy with them. Shameful.
This is the worst hotel chain for its employees.
Interesting
Guy had great glasses.
Stayed at a Marriott once for a conference and filled the bathtub up with free ice and loaded it with beer. Then for months afterwards I get spam calls from Marriott saying I've won a free stay. STOP SPAMMING ME, Marriott
They keep paying crap money by the hour, for a lot of work. they are restful
First World Hotel And Plaza in Malaysia is the largest hotel in the world. Marriott is the largest hotel brand / chain in the world
I rmb back as a kid my parents once a year took my family to Chicago’s Courtyard...I wonder if it still exist.？
Went to college back late 1980s, and Marriott took over our school cafeteria lunches. They raised the prices for lunches and dinners substantially, while lowering the quality of the food to nearly inedible. The food was disgusting!! All students would call it Marry-Rot.
Ever since then, I absolutely refuse to enter any of their hotels. I still have the impression of Marry-Rot as being overpriced, and extremely poor quality.
then which hotels do you prefer? or you prefer Airbnb?
@@MarkWTK before watching the video, I had never heard of Marriott despite the fact I live 45 minutes from one. In the UK, the big brands are premier inn and travelodge. They are both brill. From what I heard about Marriott though, I don’t want to go there.
@@james.strong I see. My family tends to check-in at Holiday Inn, if there's one. the other hotels are usually outside our budget 😅 Marriott is considered as high class here in Malaysia.
Mate you’re talking about something that happened 31 years ago..at your cafeteria
@@james.strong brill?
Maybe if the room rates were more affordable more people would stay at a hotel rather than in an airbnb.
I’ll always go with a hotel over AirBNB. The latter are generally unsafe and the rates aren’t worth it.
#CNBC Pleas amplify sound level of your videos!
Of course i proud to be marriott member🥰
I love Marriott, they payed everyone while we were on lockdown, I’m really greatful for that
I've never heard of it 🤔
It’s 2021 everyone is fine now
MARRIOTT and SUPERMAN. Pretty good costumer service from employees🍷
Are they ones who took a part in event201?
at 3:50 wtf is he laughing for SAYING mRRIYAUGHTTT
This video brought to you by Marriott
Their new Bonvoy program can unlock value.
Best Western ads used to suggest that they were the biggest. I wonder when Marriott took over.
Best western is a membership model rather than a Franchise so it made it harder to grow their brand. A lot of the older best westerns were kicked out and ended up rebranding to other brands. Best Western today created a lot of new brands so its going to catch up very soon.
Also, at the time, they would have been the largest single brand for sure, but Marriott owns NUMEROUS brands so they're technically the largest hotel corporation since they own so many. Currently, the Best Western company owns around 4700 hotels from what I can find on the internet.
When Marriott bought the 10 chains that were once Starwood.
Tell Mr Marriott to put his X-mass pajamas on and drive his Mercedes😜
14:53 I would love to know where this wall of cash where consumers are putting their money in is at… cause all I see is a rapid increase in homelessness, accumulating healthcare bills and Americans going broke!!! 🧐
Clearly you haven't been paying attention, in reality Americans have more in saving than ever before we hit 30 million Americans with over a million or now in retirement plans that. The most ever. the media runs off of doom and gloom and people eat it up Everytime just know that's not the full picture.
1927, début du cinéma parlant. MICRO ON
I listened and was afraid that he would suffocate or choke on words
No breakfast buffet or in room dining? Haha that's something I bet we'll never see come back even when they aren't financially struggling. Seems hotels are always eager to charge the same while cutting amenities.
It’s bull
I was part of a long standing annual conference, I was charged with negotiating contracts for future events there. After having to cancel 2020 then again in 2021 due to Covid rules that later relaxed I wasn’t able to get them to formally come to the table to negotiate for 2022. The event coordinators were willing to move the 2021 event to later on in 2021 but they said no. We had event 2-3 weeks later than the original date at a different local. Our attendees like the Marriott better so I drove there got a sit down and was told point blank we’ll see what we can do then crickets..I even called a few more times after to crickets! I normally wouldn’t have done the extra contact steps back to someone or thing that doesn’t want our business but it wasn’t personal to me. I’m thinking as for the rescheduled date they didn’t want to bring people back from unemployment for a few weeks? Our event we were told on many occasions was the biggest single event they had per year. Lots of money was made by the hotel. But for the future event I think they changed models and don’t care about the 700 plus night stays and the 50k worth of Catering we normally use! 🤷🏻♂️
So you are bet on office people move from one state to other for business .
Well most of the business also suffered in pandemic so things ain't going to return to normal people staying in hotels .. so you think a other company that Is already down size to survive will send employers on expensive hotel trips ?? That's some shade there .
Marriott still got nothing on Hyatt
I just think it’s pretty crazy how they started from a root beer stand. To be worlds biggest. That goes to show you, you can start with what you have, and do what you can. Your time will come!
I work for this place they needs to pay Loss prevention real money we are security engineering and housekeeping all in one we need pay that reflects our work.
I tried to apply but didnt progress lol
I just got back from a Sheraton hotel which is owned by Marriot
They didn't title it rise and fall like a lot of others do. 😒👌
I know that CNBC is based in the US but why does it only focus on the US? I don't see this happening with business channels in other countries.
Because they have a different channel for other countries, like cnbc international
It’s a US based channel.
American channel, American employees and an American target audience. Watch cncb international or find a youtube channel from your country.
because what's going on in other countries doesn't matter.
Why nobody is talking about radisson
I always thought it was Harriot
My Wife and I love to have our alone time at hotels away from our crazy families.
Oh yeah???
You think that's fun try a luxury motorhome
@@whitemailprivilege2830 yeah, we're saving up for a small house around 170k far away from our crazy families.
Yet they pay low wages despite strong profits!
This whole video, may have been good marketing for investors probably, but I could easily tell its a terrible company that will do anything for profit.
Its true while top executives and regional managers making big bonuses as much as a full time salary.
In the UK we pronounce leisure as Lay-zhur.
Lee-zhur is the American way
Hello...
The favorite of the bilderburg group?
Marriott vs Hilton- what would you take if you got a free room for a day?
Marriot Marquis is usually better than the comparable Hilton in the same city.
Marriott especially their premium and luxury hotels.
The covid-19 make the Marriott feel and look like cheap motel. I spend 17 stay at Marriott this year. No service but only limit service, No room service, No dining, No FREE breakfast and pay breakfast. If you need tower or soup you have to get from front desk. Good new! Price haven't change at all. I just notice they jack-up the price. I'm looking for 4 night stay right now. LOL
Hilton is still a much more valuable brand.
Airbnb is the best
@@Sanyu-Tumusiime sure, but we are talking hotels here.
Hyatt is more luxurious
Oh better watch out
Shocked to know that hotel doesn't own 99% of their property...
very smart, so they can get strong recovery after covid, we can learn from that
I love marriot chain hotels always clean spacious and great Cafe/food services
08:38 is most accurate observing opinion. And this vid didnt say anything at all of 'How' rather than just reading back then published public details.
Nothing from this.
I work for Marriott and bill Marriott jr actually came to my hotel!
We live in a hotel to help & patronise the industry.
That’s weird.
What a disservice to Starwood customers when Marriott took over and severely lowered the bar
That funny Marriott people feel the same way......lol
@@wepage4 Marriott can't compare to W hotels or even westins. You should try steak instead of horse meat.
@@dubiousmike laughing before the merger Marriott was 2nd to only heaven.......but evidently someone did not remember the warnings about becoming the company you keep.........
why does the announcer keep saying mer eyutt? It'a pronounced Mary OTT