What To Know
- While the LDS Church has had a profound influence on the company’s culture and values, Marriott is a publicly traded company with a diverse shareholder base.
- The Marriott family remains a significant force in the company’s ownership and management, ensuring that the legacy of J.
- Can I get a discount on Marriott hotels if I am a Mormon.
The Marriott International brand, renowned for its global presence in the hospitality industry, has often sparked curiosity regarding its ownership structure. One question that frequently arises is: “Is Marriott Mormon owned?” To unravel this query, let’s delve into the intricate history and connections that shape the company’s ownership.
The Marriott Family Roots
The Marriott story begins with J. Willard Marriott, a devout member of the Church of Jesus Christ of Latter-day Saints (LDS), commonly known as the Mormon Church. In 1927, he founded the Hot Shoppes restaurant chain, which later evolved into Marriott Corporation. Marriott’s strong religious beliefs and values played a significant role in shaping the company’s culture and business practices.
LDS Influence on Marriott’s Culture
Throughout its history, Marriott has maintained a close relationship with the LDS Church. Many of the company’s early executives were members of the church, and its corporate headquarters is located in Salt Lake City, Utah, where the LDS Church is headquartered. Marriott’s commitment to ethical conduct, family values, and community involvement aligns with the principles of the LDS faith.
Public Ownership and Diversification
In 1993, Marriott Corporation went public, offering shares on the New York Stock Exchange. This move broadened the ownership structure and diversified the company’s revenue streams. However, the Marriott family retained a significant stake in the company, ensuring their continued influence on its operations.
The Role of the Marriott Foundation
The Marriott Foundation, established by J. Willard Marriott in 1952, is a charitable organization that supports a wide range of educational, humanitarian, and religious causes. The foundation’s significant endowment is derived from the Marriott family’s wealth, and its activities reflect the family’s commitment to giving back to society.
Ownership Structure Today
Today, Marriott International is a publicly traded company with a diverse shareholder base. However, the Marriott family continues to play a prominent role in the company’s ownership and management. Bill Marriott Jr., J. Willard Marriott’s son, served as CEO from 1985 to 2012 and remains Chairman Emeritus.
Conclusion: A Complex Ownership Tapestry
The ownership of Marriott International is a complex tapestry that intertwines religious beliefs, family legacy, and public ownership. While the LDS Church has had a profound influence on the company’s culture and values, Marriott is a publicly traded company with a diverse shareholder base. The Marriott family remains a significant force in the company’s ownership and management, ensuring that the legacy of J. Willard Marriott continues to shape its future.
Popular Questions
Q: Is Marriott a Mormon company?
A: Marriott International is a publicly traded company with a diverse shareholder base. However, the company’s roots and culture are deeply intertwined with the LDS Church.
Q: Does the LDS Church own Marriott?
A: No, the LDS Church does not own Marriott International. The company is publicly traded, and the Marriott family retains a significant stake.
Q: What percentage of Marriott is owned by the Marriott family?
A: The Marriott family owns approximately 28% of Marriott International‘s outstanding shares.
Q: Is Marriott a religious organization?
A: No, Marriott International is not a religious organization. It is a publicly traded company that operates under secular business principles.
Q: Does Marriott discriminate against non-Mormons?
A: No, Marriott International has a strict policy against discrimination of any kind. The company values diversity and inclusion in its workforce and guest experience.
Q: Can I get a discount on Marriott hotels if I am a Mormon?
A: No, there are no special discounts or benefits for LDS Church members when booking Marriott hotels.
