SWOT Analysis of Marriott
Marriott Company is capable of outline its derivation to 1926, when J Willard Marriott went into commerce with opportunity of a nine-seat origin alcoholic drink locates in Washington, District of Columbia. In 1929, the company was officially included in the state of Delaware as Hot Shoppe. Marriott later on added hot food to the position and changed its name to the Hot Shoppe. Marriott International is a worldwide worker and franchiser of hotels and connected accommodation facilities. It has above 2,600 accommodation possessions in the US and 69 other countries and regions. It has headquartered in Washington, DC. The corporation evidenced incomes of $11,550 million during the economic year ended December 2005, an add to of 14.4% over 2004. The net profit was $669 million in fiscal year 2005, an enhance of 12.2% above 2004.
Marriott SWOT Analysis
Marriott is an international hospitality corporation to facilitate operates and franchises hotels and accommodation amenities. The Marriott Company is documented as one of the prime groups of actors in the international generosity commerce with above 2,700 properties extends across 69 countries. A physically powerful marketplace location enables the company well for prospect increase. though, rising opposition in the international generosity industry could influence the company’s Market share.
• Marriott Company has been equipped achieve a 72% possession rate.
• The Corporation has shown a strapping growth across all its selling divisions
• In economic, the company’s full service accommodation, choose service accommodation, comprehensive stay lodging, timeshare and artificial petroleum divisions have exposed an increase of 14%, 13.1%, 11.2%, 14.6% and 31.2% in that order over economic 2004.
• Marriott operated 2,349 out of 2,741 hotels in the US in financial 2005.
• This over confidence has exaggerated Marriott appreciably, particularly at time of slow financial system.
• This lack of geographic increase in its incomes is a main weakness for the business.
• The company has just a little attendance in the huge, and yet still increasing, Asian marketplace
• The company’s in commission border has improved slightly in economic 2005
From 4.7% to 4.8% more than economic 2004, its working boundary has insulated at the back of business standard.
• Journey and tourism in India and China is predictable to produce at twice the rate of the Expansion in rest of the world.
• China and India combined account for 5% of international demand.
• This is predicting to increase to 10.2% by 2015, a CAGR (compounded annual growth rate) of 9%. In addition, China is predictable to become the number one tourist target by 2015.
• A number of the company’s union agreements in New York, Chicago, Boston, and several other main cities are locate to expire in 2006.
• The unions large demand for the aptitude to unionize more hotels without organization interfering can establish to be a important threat for the Company.
• Paolo Hewitt; John Hellier. Steve Marriott: All Too Beautiful. Helter Skelter. 2004.
• Dan Muise. Gallagher, Marriott, Derringer & Trower: Their Lives and Music. Hal Leonard Corporation. 2002. 352pp.
• Terry Rawlings. Tin Soldier: The Life and Death of Steve Marriott. Ebury Press. 2000. 256pp.