Dive Brief:

• As part of Marriott International's effort to increase its ranks of diverse owners and franchisees, the company announced the first 19 projects that will receive financial support and other incentives through its Bridging the Gap program.
• Launched in 2022 with a $50 million initial investment from Marriott, the program aims to build a more diverse owner and franchisee community among groups including “Black, Hispanic/Latino, Native American/First Nation and Women owners,” Marriott said in a release.
• According to research by the National Association of Black Hotel Owners, Operators and Developers, nearly 20% of the lodging workforce is Black, but less than 2% of hotel owners are Black. Marriott joins other hotels such as Wyndham developing programs to build a diverse owner community.

Dive Insight:

Recognizing that access to capital is a roadblock to hotel ownership and development, Marriott set out to offer financial support and other incentives to qualified owners and franchisees with its Bridging The Gap program.

As part of the initiative, the hotel group recently announced that the company's Aloft Hotels, Autograph Collection, Fairfield Inn & Suites, Residence Inn, SpringHill Suites, TownePlace Suites and Tribute Portfolio brands will be among the first 19 development projects to receive assistance through the program. In addition to providing access to capital, Marriott also plans to utilize its relationships with seasoned hotel developers, operators and lenders to assist and support the projects.

“We see hotel ownership as a powerful economic generator — creating good jobs and revenue in the community and an on-ramp to prosperity and inter-generational wealth for hotel owners,” said Anthony Capuano, president and CEO of Marriott International, in a release.

“[Our] announcement is all about creating opportunity — and as the name of this program suggests — bridging the gap to hotel ownership that too often exists for underrepresented groups.”

Similar to the Marriott program, BOLD by Wyndham, which stands for Black Owners and Lodging Developers, was established in 2022 to advance Black entrepreneurs on their path to hotel ownership.

Development projects under Marriott's Bridging the Gap program are expected to reach $1 billion in total asset value for their ownership groups within three years.