Marriott Could End Up In More Than One Building
Marriott International still has plenty of time to find a new HQ before its current lease expires in 2021, but the company is looking at sites and has raised the possibility that it may wind up in more than one building.
Earlier this year, Marriott announced plans to relocate from its current 900k-plus SF HQ in an office park at 10400 Fernwood Rd in Bethesda. The company is eager to relocate to a more urban, Metro-accessible site that would appeal to younger employees.
Marriott CEO Arne Sorensen recently raised the possibility that the company could end up in more than one building, the Washington Business Journal reports. “We have almost a million square feet right now in the building we’re in. To find a building of that size is probably not very practical,” Sorensen said. That could mean multiple developers—or multiple jurisdictions—could benefit from Marriott's impending move.
The Bethesda HQ is home to more than 2,000 employees, a number that could grow with the company’s recent expansion. Just last month, Marriott finalized a deal to buy Starwood Hotels & Resorts Worldwide for $12.2B, creating the world’s largest hotel company. [WBJ]