Marriott International, Inc. (MAR) recently appointed Deborah Marriott Harrison as the Director of the company. She will hold the position for the term ending at the company's 2015 annual meeting of shareholders. Harrison will replace John W. Marriott III, her brother, who held the position for the last 12 years. He resigned on Jun 16 to give time to his other business interests and family matters.
Harrison has held a number of positions in the company. She was the head of Marriott's government affairs group from 2006 to 2013 and was thereafter appointed to the position of Global Officer in Marriott Culture and Business Councils. As a global officer, she was responsible for supervising the company’s 76 worldwide business councils and protecting Marriott's culture and legacy.
Through 2011 to 2013, she also served as the director of Marriott Vacations Worldwide Corporation (VAC), a business which was spun off from Marriott International in 2011. Harrison is also the board member of various non-profit organizations run by the company.
Marriott International Inc. is a leading worldwide hospitality company, focusing on lodging management and franchising. Over the past 20 years, the company has scaled up its number of brands from 5 to 20. Moreover, currently it has 800 franchisees operating in 78 countries and has 200,000 rooms compared to 100 franchisees, 21 countries and 30,000 rooms 20 years ago. Also, its worldwide presence has increased tremendously over the same period.
Given its property locations and strong brand recognition, the company is well positioned to benefit from higher market demand on the back of stepped-up business traveling in major North American and international locations. We believe that Harrison’s experience and capability would further help this Zacks Rank #3 (Hold) company to enhance its portfolio.
Other Stocks to Consider
Better-ranked stocks in the hotel industry include Wyndham Worldwide Corp. (WYN) and Hilton Worldwide Holdings Inc. (HLT). Both these stocks have a Zacks Rank #2 (Buy).
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