Marriott International to spend $500 million on women-owned businesses in 2019
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Marriott International to spend $500 million on women-owned businesses in 2019
Marriott International has announced it will reach its goal of spending $500 million with women-owned businesses one year ahead of schedule.
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Marriott InternationalMarriott International is poised to spend $500 million with women-owned businesses this year.
In 2015, Marriott International pledged to spend $500 million with women-owned businesses by 2020.
This week, the hotel chain announced it will reach its goal ahead of schedule, with the target to be achieved this year.
The figure – which includes spending at Marriott International’s managed hotels and at corporate – represents a near doubling of Marriott’s annual spend with women-owned businesses compared to four years ago.
Marriott International President and Chief Executive Arne Sorenson said the company was "incredibly proud" to complete the milestone.
“A diversified supply chain is important to us as a company because it reflects our culture of empowering people through opportunity," he said.
"But these women-owned businesses aren’t just supporting Marriott.
"They are contributing to the overall economy by creating jobs, renting commercial space, innovating new product lines and serving as business and civic leaders.
"Their success is a win for everyone.”
Earlier this year, Marriott International publicly pledged to spend an additional $100 million over and above current spending levels over the next three years with women-owned businesses worldwide – with half to be spent with businesses in developing countries such as Belize, Rwanda and Cambodia.
Marriott International Chief Global Officer of Global Operations Ray Bennett said the forecasted milestone means the company is well positioned to meet its broader goal in 2020 of spending $1 billion with diverse-owned businesses, including those owned by minorities, veterans, persons with disabilities and people in the LGBTQ community.
“Diversifying our global supply chain with people who represent a variety of communities and backgrounds is not only gratifying – it makes tremendous business sense,” he said.
“Tapping a greater range of entrepreneurs spurs innovation, competition and ultimately business success.”
Click here to view the Marriott International website.
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