A: We started out with one hotel and it wasn't doing well, so I asked my dad if he'd let me take over the supervision. He liked hotels. He did not like debt and it was very hard to convince him that if we wanted to have a hotel chain, we couldn't do it without somebody else's money.
Q: Do you ever regret the decision to take the company public?
A: No. I've thought about that a lot. We would not have been able to grow the company if we had kept it private. The family just couldn't have tolerated the amount of debt that would take.
Q: Today, the company has $2.2 billion in debt. Does that ever worry you?
A: No, because we get over $1 billion a year in cash. If the economy tanked, (the) cash flow is pretty stable. Most of it's coming from management fees and that comes off the top.
Q: Republican presidential candidate Willard Mitt Romney was named after your father, J. Willard Marriott. He sat twice on the Marriott board and your family has made significant contributions to his campaign. What's his biggest obstacle to becoming president?
A: His message is too complicated. He says: I have a 59-point economic policy. My response: People aren't going to listen to 59 points. They want 9-9-9. And he says: Well, I don't want 9-9-9. I said: I know but you really need to simplify your message and repeat it, repeat it, repeat it and don't wander off.
Q: How important should a candidate's religion be?
A: It's important that the candidate be a person of strong moral character. They should be true to their beliefs, whether it's Protestant, born-again, Mormon, Jewish. There should be separation from church and state. When Kennedy was running, they didn't want the pope to tell Jack Kennedy what to do. We don't want the president of the Mormon church telling Mitt Romney what to do. If he's president, he won't. The Church is totally hands-off, politically. We want the country to understand that a Mormon in the White House is going to be just as effective as anybody else.
Q: You are a very active member of The Church of Jesus Christ of Latter-day Saints. How do you balance your religious beliefs with some of the desires of your guests?
A: I've always been concerned about (pornographic) movies in rooms. In the next three or four years, we won't have any more of those. That's something we've had a real problem with because the Church is very, very opposed to pornography, as it should be, and we are for families. But the owners of our hotels were making a lot of money. In fact, the only movies that make any money are pornography.
Q: What led to that decision?
A: It was the right thing to do. The other side of it is if they want that stuff, they can get on the computer. So, the demand for them has gone way down. It was a good time to exit.
Q: What do you look for when touring a Marriott hotel?
A: Happy employees. I look to make sure that the hotel's properly maintained, that it's clean. Every now and then I'll taste the food.
Q: What's your biggest complaint while staying at a hotel?
A: I want a quiet room.
Q: What are hotels going to look like in five years?
A: Bathrooms are going to open more into the rooms because people want light. We're thinking of a glass wall. You could flip a switch and the glass becomes opaque; flip the switch it goes clear. We're going to full floor-to-ceiling windows wherever we can so when you pull the curtains back, you just don't look through a small window. You'll see the whole world.
Q: Did Marriott miss out on catering to younger, affluent travelers seeking boutique-style hotels?
A: Oh, yeah, we definitely did. That's why we've got $800 million to launch the Edition brand. That's the next great opportunity. We didn't miss the window. We're just slow getting there.
Q: Arne Sorenson will be the third CEO in the company's 85-year-history and the first one not named Marriott. How does it feel to turn over the reins to somebody outside your family?
A: He came to work here 15 years ago and he's done everything. He's a very good person, a great family guy and very capable. He understands the culture, accepts it and buys into it.
Q: What is that culture?
A: It's very important that our employees feel good about the job, feel good about the boss and feel good about the company.
Q: Do you think there'll ever be a day where one of your children or grandchildren takes over as CEO?
A: We'll let Arne run the thing for a while before I go down that road, but I would hope some time, maybe, they would be.
Scott Mayerowitz can be reached at http://twitter.com/GlobeTrotScott.
- Why your co-workers come to work sick
- Dave Ramsey says: Stick with paying the...
- Michelle Singletary: Like searching for...
- Local government board fostered 'culture of...
- BLM releases blueprint for oil and gas...
- 5 tips for a successful job interview
- Family whose 3-year-old daughter has cancer...
- Business says thanks by donating 10 bicycles...
- Local government board fostered... 16
- Salt Lake's 'passive' house a model of... 6
- Provo airport expansion could provide... 5
- BLM releases blueprint for oil and gas... 4
- Millions being spent gambling at 2... 3
- Why your co-workers come to work sick 1
- Michelle Singletary: Like searching for... 1
- 5 tips for a successful job interview 1