Word: marriotts
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Dates: during 1980-1989
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...your left" he announced, "is the Labatt's plant. Makes the best beer in Canada. On your right, notice the Marriott hotel. A fine example of modern architecture...
Chicago was chockablock with business seminars that week. Next door at the Marriott, muscular types in gold chains and shorts were studying health-club management. Downtown, engineers laid out a grand for four days of "Pneumatic Conveying for Bulk Solids." A company called the 1st Seminar Service lists 100,000 such seminars annually around the country. By its estimate, corporations send 8 million people a year for outside training, and think it is worth paying about $4 billion. The rustling sound of flip charts in action runs like a breeze through the cornfields from coast to coast...
While some religious groups have long maintained such communities, several private companies, including Avon and Marriott, are now getting into the field. Already, about 700 retirement communities across the U.S. provide some form of continuing care for about 200,000 residents. The American Association of Homes for the Aging expects the number of these centers to double in the next decade...
...large chains. The biggest provider is Life Care Services of Des Moines, a subsidiary of Weitz Corp., which has managed or developed more than 50 communities nationwide. The Mediplex Group, owned by Avon, has 19 facilities either completed or in the works, largely in California, Arizona and Pennsylvania. Marriott, which is best known for its hotels, has invested $150 million in three projects now under way in Haverford, Pa., Fort Belvoir, Va., and San Ramon, Calif. The company plans to build six more life-care communities by the early 1990s...
What interests Marriott and other companies is the knowledge that the American population is getting older and the elderly are getting wealthier. Since 1970, the number of Americans over 64 has jumped by 9 million, to 29.2 million, and it will rise an additional 6 million by the year 2000. The number of elderly poor has dropped by nearly half since 1970, and almost one-fourth of all elderly households have a median net worth of between $100,000 and $250,000. Their children are not doing nearly so well, and in the two-career marriages of the 1980s, they...