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When Marriott International opened its Marriott Marquis in Times Square 11 years ago, the city's business community thought the company's leaders had lost their minds.
"The area was considered a mini Beirut, and few could see the potential for revitalization," says John Kalinski, director of marketing for the Marquis. "The attitude was, 'That's it; put Mr. Marriott in the rubber room.'"
Today, Times Square's transformation is well under way, and Marriott's foresight is clear: By any measure--revenues, room occupancy rates, size--the 1,911-room Marquis is the $8.9 billion company's most successful hotel worldwide.
Now Marriott wants more. Globally, the company plans to add 12O,OOO guest rooms to its roster by 2000, and New York City is a key target of that expansion.
"We're interested in as much product here as we can get," says Mr. Kalinski. "We love New York."
Marriott is considering sites throughout the five boroughs, but is said to be particularly focused on the area between Times Square and the Jacob K. Javits Convention Center. The company is reportedly close to buying a property on 39th Street between Eighth and Ninth Avenues. Other targets include the Upper West and Upper East Sides and various areas in Brooklyn, Queens and Staten Island.
The chain is looking to add more full-service Marriotts to New York, but it also wants to introduce its other...