Marriott to Expand by Converting Struggling Competitors’ Hotels | Bloomberg.com
Marriott International Inc., the largest U.S. hotel chain, plans to expand by taking over the operation of hotels from competitors unable to pay or refinance debt, Chief Financial Officer Carl Berquist said. “There’s a lot of money on the sidelines to step in and take the position as an owner,” Berquist said yesterday in a telephone interview. “We are more than willing to work with those folks and help manage or franchise those opportunities,” he said, adding that Marriott would be prepared to “put in some equity if it makes sense to us.”
