Hotels, travel, and lodging are big business in America, and there are lots of different ways to make money from them.
But as Americans begin to worry about the health of the nation’s economy, some of them may have a new partner in the government: Marriott hotels.
The company announced today that it is to receive a $10.5 million infusion from the federal government, including $1.2 million in state money, to help it expand its operations in the United States.
Hotels, the nations second-largest hotel industry, has struggled in recent years, with the number of rooms booked declining.
The decline has been especially stark for millennials, who are more likely to be older than their elders.
But with the economy in a tailspin, the demand for hotel rooms is likely to remain high, especially as the economy recovers from a long recession.
The $10 billion is for Marriott hotels in the U.S., Canada, the Caribbean, Mexico, South America, Europe, and Australia.
The government is helping to pay for the funding, which comes from the Foreign Account Tax Compliance Act, which has been on the books since 2007.
The act allows the U:t of the US government to provide assistance to a foreign country to assist with compliance with a U.s. tax law.
The new infusion will be in addition to $6 million Marriott has received since last year from the Department of Defense, which is helping the company make more money from overseas operations.
Hotel supplies and maintenance are a big part of what Marriott makes in the US, and Marriott says the government’s $10-million infusion will help the company stay ahead of the curve in its supply chain.
Hotell will be using the infusion to help its supply network expand from the existing facilities it already has in the country to meet demand for its rooms, according to a press release from the company.
In addition, the hotel company says that it will hire additional employees to meet increasing demand for their services, and will be able to hire more hotel guests, as it does in other parts of the world.
Hotells management and suppliers are confident that Marriott’s expansion plans will make a strong financial return for the company, according the release.
Hoteling and dining has long been an important part of the American hotel industry.
In 2016, the U of A reported that hotel and dining industry revenues amounted to $3.7 trillion.
Marriott expects to have an even larger presence in the hotel industry in 2019, as the company expects to increase its occupancy rate to about 80% and expand its footprint from more than 6,000 hotels in 2021 to almost 9,000 in 2022.