Marriott launches $50 mn initiative

At the 44th Annual NYU International Hospitality Investment Conference, Marriott International announced the launch of “Marriott’s Bridging the Gap,” a multi-year, US $50 million development programme that aims to address the barriers to entry that historically underrepresented groups face in owning and developing hotels in the US and Canada. In developing the programme, Marriott tapped into the company’s development and franchising teams as well as current and potential hotel owners and franchisees. 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. The incentives will apply to franchise applications submitted after 1 June 2022.