Marriott Executive Honored as a Minority Business Leader

Marriott International’s (NYSE: MAR) Norman K. Jenkins, senior vice president of lodging development and champion of Marriott’s diversity hotel ownership initiative, is being honored today by the Washington Business Journal with a Minority Business Leader award. He is being recognized for his accomplishments for bridging the gap between minorities and hotel ownership in the greater Washington, D.C., area. “We’re thrilled with Norm’s success with Marriott’s diversity ownership initiative. It’s perfectly aligned with our company’s growth goals,” said J.W. Marriott, Jr., chairman and CEO, Marriott International.

In 2005, Marriott launched the Diversity Ownership Initiative (DOI) with a goal to increase hotel ownership among diverse groups and women. The goal is to have 500 hotels that are owned, operated or in the pipeline by women and diverse groups by 2010.

To date, Marriott is ahead of schedule with more than 400 hotels. Examples of Marriott’s diversity ownership in action include:

— Teaming up with Bob Johnson, the first African-American billionaire in the U.S. and founder of Black Entertainment Television (BET) and his hotel group, RLJ Hotels, in 2006 to acquire 90 Marriott-branded hotels. Today, RLJ is one of Marriott’s largest owners.

— Making history in Washington, D.C., last year after breaking ground on the city’s first Hispanic-owned hotel, majority-owned by the Finvarb group; — Helping to revitalize the Silver Spring business district area with the addition of the 130-room Residence Inn, owned by African-American hotel group, Integrated Capital, LLC.

— Expected opening this summer of the 162-room Residence Inn in Maryland’s National Harbor, the new mixed-use business and residential community in Prince George’s county which has been cited by Ebony magazine as the richest majority African-American county in the country

Dad, Business man, and part time author who loves technology, culture, politics, and conversation. I hope that you enjoy the news that I like to write about. Feel free to get in touch with me about articles and topics that you want to see.