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MARRIOTT INTERNATIONAL

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Marriott International : rolls out ‘Iftar for Cabs' for the tenth year

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05/23/2019 | 01:31am EDT

Marriott International celebrated the tenth annual ‘Iftar for Cabs’ initiative at participating Marriott International hotels in the Middle East and Africa, including more than 50 properties in the UAE.

The event, which took place on 14 May 2019, saw cab drivers driving through the main entrance of any of the participating hotels receive complimentary Iftar packs to break their fast.

According to a statement, various hotel departments at each hotel worked together to bring the initiative to life.

In a statement, Guido De Wilde, chief operating officer, Middle East, Marriott International offered the hotel group’s thanks to the cab drivers who he said support Marriott hotels thorough the year.

Launched in 2010, the ‘Iftar for Cabs’ initiative has turned into an annual tradition for many cab drivers throughout the region and is part of the hotel groups ongoing commitment to the holy month of Ramadan.

The initiative falls under Marriott International’s Sustainability and Social Impact Platform, Serve 360: Doing Good in Every Direction, the group said in a statement.

On 19 May 2019 Hotelier Middle East reported that Marriott tops the list of the lartgest hotel operators in the world, with the operator having more than 7,000 properties, 1.1 million rooms across more than 30 brands worldwide.

(c) 2019 ITP Business Publishing Ltd. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2019 21 454 M
EBIT 2019 3 016 M
Net income 2019 1 940 M
Debt 2019 10 293 M
Yield 2019 1,32%
P/E ratio 2019 23,69
P/E ratio 2020 19,95
EV / Sales 2019 2,61x
EV / Sales 2020 2,53x
Capitalization 45 643 M
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Number of Analysts 23
Average target price 139 $
Spread / Average Target 1,1%
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Managers
NameTitle
Arne M. Sorenson President, Chief Executive Officer & Director
John Willard Marriott Executive Chairman
Raymond Bennett Chief Global Officer- Global Operations
Kathleen Kelly Oberg Chief Financial Officer & Executive Vice President
Bruce Hoffmeister Global Chief Information Officer
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