Marriott Chooses MD for HQ Location, Reaping $62 Million in Subsidies
Marriott International Inc. announced on Friday that it signed a letter of intent between the Bernstein Companies and Boston Properties to puts its new headquarters and hotel in downtown Bethesda, MD. The headquarters will be located at 7750 Wisconsin Avenue and will take up two blocks.
In a statement released on Friday, the company said,
The new headquarters will provide a cutting-edge workspace for Marriott’s associates, offering state-of-the-art technology, modern amenities and access to a range of transportation options. The new offices will meet green building standards, allow abundant natural light and provide the company’s associates new opportunities for flexible, collaborative work spaces. The campus will also offer a childcare center for associates, a fitness center and a cafeteria.
The new Marriott flagship hotel will feature over 8,000 square feet of flexible meeting and ballroom space for meetings, banquets and conferences, and a variety of dining and social amenities, including a ground-floor restaurant with outdoor dining, a specialty coffee shop and a seasonal rooftop dining terrace.
An attractive landscaped public plaza situated between the hotel and office buildings will serve as a pedestrian throughway between Wisconsin and Woodmont avenues.
The development concept includes over 800 on-site, underground parking spaces for the hotel and office building. Under an agreement with Montgomery County, Marriott also plans to lease Garage 11, also known as the Woodmont Corner Garage, for exclusive use by Marriott associates and visitors during normal business hours. The garage would remain open for public use on evenings, weekends and holidays. The selected headquarters location between Wisconsin and Woodmont avenues allows for multiple options for ingress and egress for commuters, an important consideration for Marriott.
The current headquarters for the company is also located in Bethesda, MD in Montgomery County. It has been in that location for more than 60 years.
Marriott likely had a pretty strong financial incentive to choose Bethesda over the six other possible locations. The Washington Post reports that the company is close to reaping $62 million in incentives from both state and local governments. Earlier this week, Governor Larry Hogan of Maryland included $20 million in funding in his state budget, as a retention package to convince the company to stay in Maryland.