You may have heard that Marriott recently announced it was selling its corporate housing brand, ExecuStay, to Oakwood Worldwide. That transaction became effective May 1 and represents yet another step we’ve taken to ensure our company can focus entirely on managing and franchising our lodging brands.
The move was good for both organizations and is a testament to the growth and success of the ExecuStay brand, which had been part of Marriott for 12 years.
I blogged about ExecuStay a couple of years ago when I was visiting in Boston. I don’t stay in one place for very long when I’m traveling, so it was one of the few times I checked into an apartment.
It’s a terrific brand with a product that appeals to a specific traveler and is loved by many loyal Marriott guests. That’s why we came up with an agreement that makes Marriott Oakwood’s preferred hotel provider and Oakwood-ExecuStay our preferred corporate apartment supplier in the United States.
We also thought it made sense to keep the Marriott Rewards® program intact for our guests who stay at ExecuStay apartments. It’s good business for Marriott, Oakwood and our ExecuStay franchisees. So what’s not to like?
Like us, Oakwood has been around for a long time - they recently celebrated 50 years in the business. Like Marriott, they’re the global leader in their category. In fact they created the “corporate apartment” concept, which gives extended stay travelers an alternative to a hotel room. And, like Marriott, they have a culture that focuses on their associates, guests and serving their communities.
And speaking of ExecuStay associates, for those of you who read this blog: your dedication to this brand and to Marriott is greatly appreciated. For many of you, Oakwood will be a great new home with lots of opportunity to grow. We wish you well and hope you will always have great memories of your time with Marriott.
I’m Bill Marriott and thanks for helping me keep Marriott on the move.