Marriott International launches hotel development program

At the 44th Annual NYU International Hospitality Investment Conference, Marriott International announced the launch of "Marriott's Bridging The Gap," a multi-year, $50 million development program that aims to address the barriers to entry that historically underrepresented groups face in owning and developing hotels in the U.S. and Canada. Recognizing that access to capital constitutes a critical barrier to market entry, Marriott will offer financial and other incentives to qualified historically underrepresented owners and franchisees that will have a controlling equity interest in select branded projects.

"At the heart of what we do every day is welcome all," said Anthony Capuano, CEO, Marriott International. "Whether that's people who stay with us, work in our hotels, meet our supply needs or develop hotels that fly one of our brand flags—all are welcome. With the establishment of Marriott's Bridging The Gap, we are creating an on-ramp to help propel historically underrepresented groups in the journey to hotel ownership more frequently and more successfully. We are excited to launch Marriott's Bridging The Gap and to continue building a more diverse owner and franchisee community."

The announcement of Marriott's Bridging The Gap program aims to increase the ranks of diverse owners and franchisees. "A hotel is an economic engine for a community," noted Stephanie Linnartz, president, Marriott International. "We believe our guests, our associates, our hotels and the communities we serve will benefit from the full participation of underrepresented groups in this extraordinary industry.”