Marriott To Reposition Renaissance As Boutique Brand

WASHINGTON, D.C.— Marriott International plans to turn its Renaissance hotel brand into a chic chain, the Wall Street Journal reported. According to the Journal, Marriott intends to disclose its plans to about 150 hotel managers at a conference in Chicago this week. “We figure 30% of the market out there is attracted to the boutique, sort of eclectic, sort of different, give-me-a-surprise kind of hotels, Bill Marriott, the companys chairman and chief executive, told the Journal. Marriotts move is calculated to take on hip competitors such as Starwood Hotels & Resorts Worldwides W brand, and Ian Schrager hotels. While the purchase of the Renaissance chain in 1997 for $947 million gave the company many new hotels in Asia, Europe and the United States, Marriott acquired the assets without giving much thought about how to position them, the report said. According to the Journal, Marriott is hiring a brand manager from Nike Inc. and a Beverly Hills, CA designer who specializes in unique, independent hotels. The company has researched the boutique hotel segment for two years. Marriott plans to open 15 newly built Renaissance hotels in the next two years using the new standards. Existing hotels are being renovated or will be in the next few years, with the costs borne by their owners and franchisees. SOURCE: Wall Street Journal