Marriott moves to ditch plastic straws
Marriott International is the world’s largest hotelier, and a prominent luxury company – that gives it a lot of sway in the hospitality industry, and the company has found a new cause to champion: the environment.
Marriott has announced that it will remove plastic straws from all its hotels (over 6,500) within 12 months.
On the one hand, Marriott will add its voice to that of Starbucks and other prominent businesses looking to reduce the amount of plastic, hoping to influence other players to minimize the amount of plastic littering the planet. On the other hand, the company will have a huge impact all on its own: Marriott’s decision will eliminate more than a billion plastic straws (and 250 million plastic stirrers) from circulation per year!
Marriott’s share price has increased by 2% over the last 5 days
SOURCE: Yahoo Finance
Arne Sorenson, Marriott’s CEO, released a written statement, saying: “Removing plastic straws is one of the simplest ways our guests can contribute to plastic reduction when staying with us – something they are increasingly concerned about and are already doing in their own homes.”
This isn’t Marriott’s first foray into environmentalism – earlier this year, the company started swapping out small toiletry bottles in guest bedrooms in 450 of its properties, replacing them with “large, in-shower dispensers that reduce waste.” A number of Marriott’s UK properties had also decided to eliminate plastic straws before the official policy was introduced.
No doubt Marriott’s decision will be of great benefit to the environment, but equally, it will play well with consumers, who are increasingly concerned by ecological issues.
Dominion holds Marriott International in its Global Trends Luxury Fund.
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