Marriott is planning on sticking around in Montgomery County, Maryland, after announcing a new $600 million office and hotel complex to be located in downtown Bethesda.
The company has been based in Maryland for 60 years, but an expiring lease gave the hotel chain an opening to explore moving. Marriott President and CEO Arne Sorenson said they looked at several locations in the D.C. metro area but have finalized their site selection to locations in Bethesda.
"Our future headquarters will be a major investment in the local community, and we look forward to remaining a strong economic engine for Montgomery County and the entire region," Sorenson said.
The new complex will house more than 3,500 employees in approximately 700,000 square feet of leased office space. The company is expected to select a final site in the first half of 2017 and occupy the new office before the expiration of their current lease in late 2022.
In addition to the office space, a new 200 plus room hotel will be built on the site.
In 2015, there were more than 10,400 jobs in Maryland at Marriott properties, including its corporate offices, Marriott-managed hotels and franchised properties.