Marriott CEO Says Smart Travel Policies Will Boost the World's Economies with Stronger Exports and Inclusive Job Creation
(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 23 January 2014
Release date- 22012014 - Davos, Switzerland - 'Our travel industry has been at the heart of 'Reshaping the World,' the theme of the 2014 Davos World Economic Forum (WEF), says Arne Sorenson, president and CEO of Marriott International (NASDAQ: MAR) and Chairman of the WEF Governors of Aviation, Travel and Tourism this week in Davos.
'Leaders increasingly see that travel is trade and enabling greater mobility creates jobs, opportunity, and economic prosperity at home. We have a tremendous chance to energize the global economy by working together to help implement smart travel policies,' continued Sorenson. These policies, including smart visas and smart airports encourage easier travel throughout the world and increase the need for jobs.' In addition to chairing his industry governors, Sorenson will be speaking on a panel January 22 at the Davos Congress Centre about 'Reshaping the World of Work.' Among his key points:
1 in 11 jobs globally (260 million) are supported by travel and tourism (UNWTO and WTTC).
In the next ten years the sector will account for 10 percent of global GDP.
Addressing youth unemployment, Marriott supports programs that help train and employ thousands of disadvantaged youth in 75 percent of the 74 countries in which the company operates hotels.
In the U.S., through a partnership with the Marriott Foundation for People With Disabilities... Bridges from School to Work, Marriott will have placed the 20,000th youth in mainstream employment by year end.
Outside the U.S., Marriott is engaged with several programs including the Youth Career Initiative and World of Opportunity Europe which combined has helped to train and employ nearly 1,000 students in Asia, Europe, Caribbean & Latin America and Middle East & Africa.
On January 23, Sorenson will join Arianna Huffington at a Goldman Sachs-hosted luncheon on a panel to discuss empowering women in emerging markets. Key points:
Marriott recently joined in a five-year Clinton Global Initiative (CGI) commitment to expand its engagement with women-owned businesses outside the United States.
Working with WEConnect International and Vital Voices, two prominent non-government organizations that support and promote the economic potential of women, Marriott has joined this pledge to train 15,000 women business owners and spend $1.5 billion with their companies by 2018.
Finally, co-hosting a CEO breakfast on January 23 with Pepsico and The Carlyle group on 'Doing Business in Africa,' Sorenson will discuss:
The company's expansion into Africa and the opportunity for helping to spur economic growth in Africa's emerging economies through tourism and new employment.
Marriott's completed formal agreements, first announced late last year, to acquire Protea Hotels' brands and its management business that operates or franchises 116 hotels across three brands with more than 10,000 rooms in South Africa and six other Sub-Saharan African countries. Protea is based in South Africa; transaction closing is expected April 1.
The result will nearly double Marriott's distribution in Africa to more than 23,000 rooms and including hotels already in the pipeline for future openings will make Marriott the largest hotel company on the continent.
Marriott will also become a significant employer in South Africa and foresees potential through the growth of its business and the new platform for hotel expansions to create new employment opportunities.
Marriott International, Inc. (NASDAQ: MAR) is a leading lodging company based in Bethesda, Maryland, USA, with nearly 3,900 properties in 72 countries and territories and reported revenues of nearly $12 billion in fiscal year 2012. The company operates and franchises hotels and licenses vacation ownership resorts under 18 brands. For more information or reservations, please visit our web site at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com.
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