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Marriott Vacations Worldwide Corporation is a pure-play public timeshare company. [2] Formerly a division of Marriott International , Marriott Vacations Worldwide was established as a separate, publicly traded entity focusing primarily on vacation ownership in November 2011. [ 3 ]
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The first location was built in 1983 in San Luis [clarification needed] and was Marriott's first sister brand. [citation needed] The chain primarily targeted business travelers, but over time has broadened to the leisure market. Most properties now offer a swimming pool or fitness center, microwaves and mini-fridges, and family rates.
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Bring on the holiday season, says Marriott CEO Anthony Capuano.
Marriott is rolling out the policy globally, though most U.S. hotels currently have this policy in place. Marriott also saw great success in tapping existing employees for first-time manager roles.
In March 1995, Marriott International, which franchised and managed over 325,000 rooms, bought a 49% stake in the Ritz-Carlton Hotel Company. [22] Blackstone Real Estate Acquisitions bought The Ritz-Carlton Boston at auction for $75 million in February 1998. A month later, Marriott International acquired the hotel from Blackstone for $100 million.
Sheraton Hotels and Resorts is an American international hotel chain owned by Marriott International.As of June 30, 2020, Sheraton operates 446 hotels with 155,617 rooms globally, including locations in North America, Africa, Asia Pacific, Central and South America, Europe, the Middle East and the Caribbean, in addition to 84 hotels with 23,092 rooms in the pipeline.