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Marriott International Executive Chairman J.W. Marriott Jr. on what is needed to boost U.S. economic growth.
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And tax hikes just kicking and now the threat of a double dip recession is looming consumers already clamping down on spending.
So are the big business guys worrying we've got Bill Marriott junior chairman CEO of Marriott International.
And all we're off without reservations bill thanks a lot of Bennett and -- yours for years or external I think you guys in that company's story is what America is all about you know it's it's a small.
Company that became big -- a lot of people and -- -- symbol of American excellence around the world.
Is that being threatened with and our own country right now.
I don't know Charles I think one of the most important things we can do in America is make it easier for people to visit our country.
You know for every 35 people who visit America we create another job.
And last year for the first time a billion people traveled outside their home country.
The first time in history that that's ever happened eighty million Chinese left China last year but only one million came to America because of these of problems.
They're getting their act together over there -- the embassy in they're trying to do better.
But there's so much more that can be done to attract visitors to our shores which is one of the sure ways to start the growth up again because a guy comes the United States.
You're shopping there's -- theater.
He -- and restaurant.
Stays in the hotel and and -- multiplier effect disturbed by no New York I was on 57 street this past weekend a couple of stores that happy Chinese New Year -- that -- -- that some people get it but to your point the administration and our government's got -- get -- but.
I like which -- -- because for me.
-- been relatively -- -- the stock market because of the global economy I always say there's never been a time in the history of mankind when there's been this much prosperity.
And it feels like the media so myopic little look at Europe and American think that's the world but that's not true anymore as it now that's not we're really growing very rapidly in China we've got 61 hotels now on.
-- 66 more in the next three years and -- reopened hotel month.
The next or four years China and China -- alone.
So uninteresting because every look at the numbers of they're gonna crash and is that false bravado on our part or are we really -- in the boat there.
Well we've got to do a better job of bringing people to American we've got to advertise overseas we do very little love.
And we've got to get that people easier to come here.
And many do can we know they spend we know they create jobs.
And from my standpoint that send its low hanging fruit it's an easy one to do.
But what about and in multi nationals take it you know have to deal that's what about the idea because it's central to the political atmosphere in this country.
That companies like -- in doing so much more broad and not helping America and other words.
Maybe you're creating a job a lot of -- for a lot of Chinese but what exactly are you going for Americans that you can -- -- -- -- criticism.
Well we're doing great here we're gonna -- -- about 200 hotels and American next year next year this year hundred did you 200 apparently are they're small South Korea are as a -- -- of Fairfield -- and some full service hotels -- will -- -- -- -- -- that collided notion and that this GDP number of bodes -- for the country or that sequestration or.
All the you know.
Fumbling around in DC that that's sort of belie the notion that we're in trouble in this country.
Well and I need to try to Greg this is the matter well I think we are in trouble with people still travel and they love to travel and they've got any excess money is spent I think they'll spend on travel around and close or something else.
And so we're seeing continued -- improvement in travel in this country.
If you and I'm not sure how close and I mean -- -- to have a Washington DC.
But it if you had a chance what will be the main thing you would try to it did get done right now because it sort of gets them something -- in DC we've got to grow the economy.
We really do need a program only thing we policies that didn't fix all list.
Your book without reservations I mean I went through some of the reviews that things are found a -- -- things got to be pretty good book.
When you give praise from both Mitt Romney and Bill Clinton.
Well I think that they're both friends of the cars that Romney and I've been friends for a long time he's come back on our board again.
For the third time does he left every time he ran for election -- -- the Olympics or when every dead smartest businessmen have never met.
And just a terrific guy.
I think that made great president what's the what's the book about because one of things ever and it's it's -- that that I've read it says that quintessential American success or the family and its impact on global hospitality.
Is there -- another thing there.
Well I think the theme is that you you start small.
You just add one hotel in time for us.
And -- you depend on you people.
You develop people you train and you teach them you give them opportunities to grow and expand and 50% of our general managers are 3800 hotels started out as hourly workers.
And that's the American dream the American story -- you still believe in American dream I should be watching -- shows you still believe absolutely.
No -- out thank you very much thank Israel.
