Economy/Business News Alert: J.W. Marriott Jr. to retire as chief executive of Marriott International

	Tuesday, December 13, 2011 4:38:39 PM ECONOMY/BUSINESS NEWS ALERT J.W. Marriott Jr. to retire as chief executive of Marriott International J. W. Marriott Jr., who built the company his parents started as a District root beer stand in 1927 into one of the biggest hotel chains in the world, is retiring as chief executive after 39 years, ending a storied run in American business history. Marriott, who is essentially a grandfather of the hotel industry in the Washington region and internationally, is turning over control of Marriott International to Arne M. Sorenson, a trusted lieutenant who emerged as the likeliest successor after Marriott's second-oldest son John left the company in 2005. The company Sorenson takes over has more than 3,000 hotels in 67 countries and territories, generating just shy of $12 billion a year in revenue while employing more than 146,000 people. In the greater Washington region, there are about 15,000 employees. "It's time," Marriott said in an interview. "It's time to do this and I'm happy to be turning over the company to Arne. The family has great trust and confidence in him." Read more at: http://www.washingtonpost.com/local/marriott-ceo-jw-marriott-jr-to-retire/2011/12/13/gIQAnHLPsO_story.html Or visit PostBusiness.com. SEND TO A FRIEND UNSUBSCRIBE E-MAIL CENTER GET HELP Washington Post Digital E-mail Customer Care 1150 15th Street NW Washington, D.C. 20071 ©2011 The Washington Post Privacy Policy