Marriott adds to minority-owned portfolio

Published February 21, 2007 5:00am ET



As a result of a major acquisition deal in 2006 that transferred ownership of 90 Marriott-branded hotels to RLJ Development, the local development firm owned by BET founder Robert L. Johnson, Marriott now has a total of 400 Marriott-branded hotels that are either owned or managed by minorities or women, the hospitality company announced Tuesday. The acquisition deal helped move Marriott one step closer to its goal of opening 500 minority- or women-owned hotels by 2010.

RLJ acquired 100 hotels from White Lodging Services Corp., 90 of which were Marriott-branded properties, for $1.7 billion, making RLJ one of the largest owners of Marriott hotels in the U.S.

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