INDIANAPOLIS J.W. Marriott Jr., chairman/CEO of Marriott International, seized the occasion of the grand opening of the Marriott Indianapolis Downtown here to underscore his firm s committment to sell-off seven or eight of its 14 owned hotels this year, taking back the leases in the process.
We are determined to take as much of the business cycle as we can out of our operations, Marriott explained. He said that, all told, the company controls some 2,200 hotels in its operational portfolio, and is looking to add 40,000 new rooms to the system this year and another 35,000 in 2002. (4/26/01) Michael Billig