WASHINGTON, D.C.— Celebrating the 75th anniversary of Marriott International, J.W. “Bill” Marriott Jr., chairman/CEO, rang the closing bell May 20 at the New York Stock Exchange. Marriott, in a statement, has also reaffirmed second-quarter 2002 EPS guidance. Reflecting on a difficult economy last year and the unprecedented impact of Sept. 11, Marriott said, “Even though individual business travel is still soft, we anticipate strong leisure business this summer and plan to announce great vacation rates in the coming weeks. “Given that the lodging industry typically trails an economic recovery by three to six months, we continue to expect the measure of profitability for hotels— domestic comparable RevPAR— to decline in the second quarter of 2002 by 5% to 7%, which is consistent with earlier guidance, although at the less favorable end of the range,” added Marriott. Founded by his parents, J. Willard and Alice S. Marriott as a nine-seat root-beer stand in here, Marriott has grown to include nearly 2,600 properties in 65 countries and 142,000 employees. Its portfolio includes 21 brands and businesses such as Marriott Hotels, Resorts and Suites; Ritz-Carlton Hotels and Resorts, Renaissance Hotels, Resorts and Suites, Residence Inn, Courtyard and Fairfield Inn.
