Marriott in $1 Billion+ Diversity Outreach Initiative

8th Feb 2005

Marriott International, Inc. today
announced expanded goals for its Diversity Outreach Initiative, including: * $1
billion pledged to minority- and women-owned suppliers over the next five
years. * Relationships with four newly signed minority- and women-owned
and managed financial services firms. * Minority owners and franchisees to
double in five years. These goals were reported to a subcommittee of Marriott’s Board of
Directors, known as the “Committee for Excellence,” which is focused on
achieving the highest levels of diversity in the lodging industry. The
committee is chaired by board member George Munoz, principal of Munoz
Investment Banking Group, LLC. Membership includes board members Debra L.
Lee, president and chief operating officer of Black Entertainment
Television (BET); Harry J. Pearce, former chairman of Hughes Electronics
Corporation; and William J. Shaw, president and chief operating officer of
Marriott International; as well as six other senior executives who
represent various disciplines throughout the company.

“Our diversity outreach has created opportunities for us to benefit from
the talent and expertise from organizations who share our vision and
commitment to excellence,” said J.W. Marriott, Jr., chairman and chief
executive officer of Marriott International. “With more than $210 million
in expenditures in 2004—a 40 percent increase over 2003—we are on
track to achieve $1 billion with diverse suppliers over the next five
years and have established our continued lodging industry leadership.”

Marriott also announced that it has signed agreements with minority- and
women-owned financial institutions, who will provide Marriott with
services for projects ranging from financing hotels to managing money
market funds, and are assisting the company with other capital market
transactions. They include:

* RLJ Development, LLC—Marriott invested $20 million in RLJ’s Urban
Lodging Fund headed by Robert L. Johnson, chairman and chief executive
officer of Black Entertainment Television (BET). In addition, RLJ
purchased two Residence Inn by Marriott hotels in 2004, and now owns a
total of four Marriott-branded products. * Williams Capital—Williams
Capital Management, a registered investment advisor that is majority
African American-owned, will manage overnight cash investments. Williams
Capital Management’s parent company, The Williams Capital Group, is also
one of two firms that assisted Marriott with its stock repurchase in 2004.
Also in 2004, The Williams Capital Group participated as a co-underwriter
for a public securities offering for the company’s timeshare business. *
Milestone Capital—a women-owned investment advisor, specializing in
institutional cash management, will manage overnight cash investments.

Marriott’s 401(K) retirement plan has retained Ariel Capital, an African
American-owned investment advisor, to manage one of its funds.


As part of its broad-based diversity initiatives, Marriott also plans to
build on the company’s outstanding track record of attracting top tier
minority owners and franchisees. “Marriott provides many attractive
opportunities for minority and women-owned entrepreneurs and businesses,
and we’re going to enhance that appeal over the coming months,” said Mr.

As a “hall of fame” member of Fortune magazine’s “100 Best Companies to
Work For” list for eight consecutive years, Marriott has always been
committed to employing a talented and diverse workforce. In particular,
the company has doubled the number of women and minorities in its top 400
leadership positions over the last six years. Marriott’s current and
future success in workforce diversity is supported though programs such as
its Leadership Education Series, which teaches managers how to lead and
build their careers in today’s increasingly more diverse and complex


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