The biggest private office tenant on the market in the DC area, Marriott International, just announced it plans to keep its corporate HQ in Bethesda.
The world's largest hospitality company has yet to name a location for the HQ—that's expected to come early next year—but a release posted on its website Tuesday morning announced it intends to stay in Downtown Bethesda.
"After a comprehensive review of many excellent options in the DC metro region, we have focused our search on downtown Bethesda, which offers multiple sites that meet our priority needs," Marriott president and CEO Arne Sorenson said in the release. "Our future headquarters will be a major investment in the local community, and we look forward to remaining a strong economic engine for Montgomery County and the entire region.”
Marriott's 1M SF lease at 10400 Fernwood Road in Bethesda is set to expire in 2021, and the company brought on JLL earlier this year to help with its HQ search. It explored a range of options throughout the region in a search for a Metro-accessible, urban site that would appeal to younger employees.
The announcement comes as a big win for Montgomery County executive Ike Leggett At a Bisnow event in February, Leggett guaranteed the hospitality giant would stay in Montgomery County.
Marriott recently merged with Starwood in a move that will have a major impact on the hotel industry. At last year's Bisnow Lodging and Investment Series, Marriott International chairman Bill Marriott was interviewed by his daughter Debbie Marriott Harrison, pictured above.
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