Marriott International, Inc. is set to accomplish its 2020 commitment to spend $500 million with women-owned businesses a year early. The company expects to achieve this milestone in 2019 with corporate spending at its managed hotels.
President and chief executive officer Arne Sorenson said they are very proud of this accomplishment. He highlighted the economic contributions of women-owned business though job creations, launch of new product lines, rental of commercial spaces and the role of women as civic and business leaders.
Marriott supports women-owned enterprises around the world. These include suppliers of tortillas, seafood and guestroom artworks in the U.S.; suppliers of linens, cold press juices and fragrances in India; and suppliers of coffee, banquet furniture and slippers in China.
The company also pledged to spend another $100 million on women-owned businesses worldwide, with half of which to be spent in developing countries including Cambodia, Rwanda and Belize.
Marriott is also well-positioned to accomplish its 2020 goal of spending $1 billion with diverse business which include those owned by people in the LGBTQ community, persons with disabilities, veterans and minorities.
Marriott International chief global officer of global operations Ray Bennett added that diversification of their global supply chain make tremendous business sense because diversity encourages innovation, competition and business success.