Image: The partnership spans all 14 Marriott brandsMarriott International and the Overseas Private Investment Corporation (OPIC) have signed a new partnership to develop sustainable hotels in emerging markets around the world.
A newly-signed memorandum of understanding will help support the construction of eco-friendly hotels in areas such as the Middle East, Africa, Latin America and the Caribbean.
It is hoped the partnership will generate millions of dollars in OPIC financing for Marriott-led projects, with the corporation making long-term loans to third-party hotel owners.
Marriott will provide hotel management or franchising services under separate agreements, with each project to be evaluated on its own merits and subject to OPIC's due diligence.
OPIC financing, which could reach up to US$200m (EUR157m, £127m), will be available to fund projects across Marriott's 14 brands - such as Marriott Hotels and Resorts and JW Marriott.
Marriott vice president of social responsibility Mari Snyder said: "This is an exciting collaboration to drive sustainable hotel development in emerging markets."
OPIC president and CEO Elizabeth Littlefield added: "We hope this partnership serves as a model for future energy-efficient hotel development in emerging markets."
Details:
www.marriott.comImage: Manningmbd
