Marriott International Inc. has chosen downtown Bethesda as the location of their new headquarters. The hospitality giant, however, has yet to determine the exact site.
Currently, the hotel company is considering several metro-accessible sites for a new $600 million headquarters. They expect to settle on one by the first half of 2017. Furthermore, they expect to have it functional and ready for occupancy by 2022.
Where will the new headquarters be?
In a statement released by Marriott President and CEO Arne Sorenson, he said:
“Marriott has been headquartered in the State of Maryland for more than 60 years and we intend to remain close to our roots […] Our goal is to provide a cutting-edge workspace for our associates, offering state-of-the-art technology, modern amenities, and access to a range of transportations.”
This is why after a comprehensive deliberation of various choice options in the D.C. metro region, they decided to zero in on downtown Bethesda. It offers a range of sites that could potentially meet Marriott’s priority needs.
What will be in the new headquarters?
Following a merger with Starwood Hotel Resorts Worldwide Inc., Marriott is now the largest hotel company in the world. Their headquarters employees occupy three different offices. As such, it is fitting that they build a new complex for their employees.
With the help of the real estate brokerage JLL and the architecture firm Gensler, Marriott is searching for a place to build its complex. It will include 700,000 feet of leased office space for 3,500 headquarters employees as well as another Marriott-branded hotel.
In addition to creating more space for the hospitality giant’s employees, the headquarters relocation to a transit-oriented site aims to reach younger employees. This objective is one of the biggest economic development prizes in the Washington region.
What does the new headquarters offer?
According to Bethesda county council member Roger Berliner, the construction of the new Marriott headquarters will make the county a leading commercial center in the entire region. After all, they are building a 700,000-square-foot complex. That means 3,000 construction jobs and an eventual return on investment, he said.
Meanwhile, County Executive Ike Leggett shared that county officials deliberated on how much Marriott would mean to the local tax base. The hospitality giant will “annually provide $90 million per year in net state and county income taxes,” he said.
Furthermore, he shared his determination to not lose “a company that has been in Montgomery County for 60 years, with an international brand and reputation.” It will bolster Bethesda’s office market, retailers, and restaurants.