As a proven partner, PepsiCo will continue to support Marriott's strategic growth priorities by unlocking the food and beverage company's world-class design and content capabilities, as well as its cultural insights, culinary innovation and cutting-edge technology to elevate the overall guest experience. Further, the arrangement will advance the companies' shared vision for leaving a positive imprint on the environment through sustainability initiatives.
The expanded agreement allows for PepsiCo to align strategically with Marriott's loyalty program and provide access to once-in-a-lifetime global sports and entertainment experiences to Marriott's loyalty members.
"Marriott has had an outstanding collaboration with PepsiCo since 1992, and it's exciting to look to future opportunities as we expand this relationship to our brands globally," said Ray Bennett, Chief Global Officer, Global Operations at Marriott International. "In addition to PepsiCo's breadth of products, we share a vision of operating responsibly and providing memorable customer experiences."
In addition to curating and making a broad beverage portfolio available to meet guest needs throughout the day - including loved brands1 such as Pepsi, Aquafina, LIFEWTR, Mountain Dew, bubly, Starbucks ready-to-drink coffee, Tropicana, Lipton Iced Tea and Gatorade - the agreement will present opportunities for additional guest access to PepsiCo's food brands, such as Quaker Oats and Frito-Lay snacks, which are already found at Marriott properties.
"We are thrilled for the opportunity to expand our 25+ year relationship with Marriott International and extend the work we do together to the entire portfolio of properties," said Anne Fink, President, PepsiCo Global Foodservice. "In addition to making our broad food and beverage portfolio accessible to Marriott's 600 million guests across the globe each year, we are particularly excited to bring the best that PepsiCo has to offer - everything from our world-class design capabilities to our insights-driven innovation - to provide the unique, elevated experiences that Marriott properties are known for."
PepsiCo has been the carbonated beverage provider for Marriott International since 1992, providing beverages at lobby markets, restaurants and bars, and via in-room dining, across 4,000 properties in North America and more than 850 hotels globally. PepsiCo's expanded reach will now include an additional 1,500 existing hotels, as well as hotels joining the Marriott portfolio during the term of the agreement.
Beverage brands are subject to local availability
PepsiCo (NASDAQ: PEP) products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $63 billion in net revenue in 2017, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 22 brands that generate more than $1 billion each in estimated annual retail sales.
At the heart of PepsiCo is Performance with Purpose - our fundamental belief that the success of our company is inextricably linked to the sustainability of the world around us. We believe that continuously improving the products we sell, operating responsibly to protect our planet and empowering people around the world is what enables PepsiCo to run a successful global company that creates long-term value for society and our shareholders. For more information, visit www.pepsico.com.
About Marriott International, Inc.
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 7,000 properties under 30 leading brands spanning 132 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company now offers one travel program, Marriott Bonvoy™, replacing Marriott Rewards®, The Ritz-Carlton Rewards®, and Starwood Preferred Guest®(SPG). For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.