Marriott Headquarters To Stay In Maryland

The headquarters of the world's largest hotelier, Marriott International, will most likely stay in Bethesda, Marriott and state officials announced Tuesday.

The company will build a new $600 million facility in downtown Bethesda. Montgomery County has been the chain's home for more than 60 years.

“Marriott has been headquartered in the State of Maryland for more than 60 years and we intend to remain close to our roots," Marriott president and CEO Arne Sorenson said in a statement. "Our goal is to provide a cutting-edge workspace for our associates, offering state-of-the-art technology, modern amenities, and access to a range of transportation options. 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.”

A final decision on an exact location is expected in the first half of 2017. They have several specific locations they're eyeing and negotiations are in progress. A company release said that pending finalization of all agreements, permits and state and local government support, "we have not ruled out other locations."

Though state officials didn't specify in the release what incentives they had in place, The Daily Record reports the state is contributing $30 million in tax breaks, grants and conditional loans.

Sorenson added that a Marriott-branded hotel will also be built on the site, with more than 200 rooms. Marriott has 93 hotels carrying its name in the state and, including its corporate offices, the chain and its franchised hotels employed more than 10,400 people in Maryland last year. The chain has 5,700 properties in more than 110 countries, and is ranked 195 on the most recent Fortune 500 ranking.

In September, Marriott closed on a $13 billion deal to acquire Starwood Hotels and Resorts Worldwide. Starwood's brands include Westin, W and St. Regis.

Besides Bethesda, Marriott's headquarters relocation team looked at Washington and northern Virginia.

“Marriott is a world-class company with deep roots in our state, and their decision to continue growing their business right here in Maryland is tremendous news,” Gov. Larry Hogan said. “For over 60 years they have been a vital member of our business community, employing thousands of Marylanders, and making a real and lasting positive impact on our state’s economy. Today’s announcement also reflects a great partnership with County Executive Ike Leggett and his team – a partnership that ensures our state will continue to benefit from Marriott’s presence and investment for decades to come.”

The Associated Press contributed to this report.