Marriott Shareholder Takes Legal Action Against Herculean Hotelier

WASHINGTON, DC-A Marriott International Inc. shareholder–albeit one with a relatively small ownership–has filed a lawsuit against the global hospitality company for failure to adequately disclose financial information. New York City -based Amalgamated Bank, which has a .04% share of Marriott, was purportedly compelled to take legal action upon considering a spate of recent lawsuits by Marriott hotel property owners accusing the hotel company of financial misdoings, including accepting kickbacks. Amalgamated filed the lawsuit in the Delaware Chancery Court late last week.

In its multi-faceted claim against Marriott, Amalgamated calls for the hotel company to submit documents verifying financial statements over the last four years, and other documents pertaining to issues brought up in some of the recent lawsuits against Marriott such as vendor rebates, and fees assessed for property management, and goods and services. Amalgamated claims Marriott has yet to release the aforementioned documents requested in a letter dated July 8. Amalgamated is also demanding an account of fees charged to customers for the use of high-speed internet service STSN. Marriott is a partial owner of STSN, a fact of which Amalgamated claims to have had no knowledge.