From Deseret News archives:
Y. business building dedicated
As the two men approached the door to the room, Marriott took out the plastic key card and looked at it quizzically.
Then the hotel magnate asked Elder Monson, "How do you work one of these cards?"
Marriott had a nose for business, if not door locks, and the family businesses continue to prosper 23 years after his death. His two sons and their families have donated $18 million to Brigham Young University for a new addition to the building that houses the nationally respected business school that bears the Marriott name.
Friday, President Monson, now head of The Church of Jesus Christ of Latter-day Saints, dedicated that addition to the N. Eldon Tanner Building.
"Bless all the students, that they may recognize that they walk on hallowed ground when entering this building," President Monson said in his dedicatory prayer. "May each one appreciate the past, contemplate the future and work diligently in the present ... May each truly enter to learn and go forth to serve."
The Marriott Family Foundation, run by Marriott's two sons and their families, made the donation after a November 2003 meeting in which Marriott School Dean Ned Hill mentioned the business school was bursting at the seams. He told Bill Marriott Jr. that he could double the 100 number of annual graduates if he had more space.
That piqued Marriott's interest. LDS Church leaders and the Marriotts, who are church members, see the BYU business school as a leadership incubator.
"I saw an opportunity to develop many more business leaders and particularly church leaders," said Bill Marriott Jr., chairman and CEO of Marriott International. "In today's business world, there is a great need for leaders who have a strong code of ethics and fluent language ability. BYU graduates fill this need."
About 79 percent of BYU MBA students are returned LDS Church missionaries, which largely accounts for the fact that 68 percent are bilingual. Last year, the Wall Street Journal reported that a Journal/Harris Interactive survey of corporate job recruiters ranked BYU's MBA program at the Marriott School second in the nation for producing graduates with strong ethical standards.
"To invest in these fabulous young people is the best monetary and social investment we can make, certainly better than the current stock market," said Dick Marriott, chairman chair of Host Hotels & Resorts, another family business. --> The business school's national advisory council raised an additional $25 million to complete the $43 million project.
