Who Owns Marriott: Largest Shareholders

Marriott International is one of the world’s leading hospitality companies. Many people wonder who owns Marriott and how the company is structured today. With a rich history, a global presence, and diverse brands under its umbrella, the ownership and leadership of Marriott make it one of the most recognized names in the hotel industry.

Marriott Company Profile

Marriott International is the world’s largest hospitality company, headquartered in Bethesda, Maryland, USA. It operates, franchises, and licenses hotels, resorts, and timeshare properties across a wide portfolio of brands.

As of 2025, the company manages more than 9,300 properties in about 143 countries and territories, offering around 1.7 million rooms. It employs over 418,000 people worldwide, including both direct staff and those working in managed hotels.

Founders

Marriott’s story began in 1927 when J. Willard “J.W.” Marriott and his wife Alice Sheets Marriott opened a nine-stool A&W root beer stand in Washington, D.C.—later named Hot Shoppes.

Through their dedication and values—like putting people first and serving with integrity—they built a foundation still embedded in the company culture today.

Major Milestones

• 1932: Expanded the root beer stand into a chain of Hot Shoppes restaurants.
• 1953: Hot Shoppes, Inc. went public, with shares selling out quickly.
• 1957: Opened its first hotel, the Twin Bridges Motor Hotel in Arlington, Virginia.
• 1967: Rebranded as Marriott Corporation.
• 1969–1975: Opened its first international hotels in Mexico and Europe.
• 1970s: Diversified into cruises, theme parks, and airline catering before refocusing on hotels.
• 1983: Introduced Courtyard by Marriott, designed for business travelers.
• 1984: Launched the Honored Guest loyalty program and opened the first JW Marriott luxury hotel.
• 2016: Acquired Starwood Hotels & Resorts for $12.2 billion, adding brands like Sheraton, Westin, St. Regis, W Hotels, Le Méridien, and Aloft.
• 2022: Expanded into the midscale market with the acquisition of City Express hotels in Latin America.
• 2025: Strengthened its portfolio with several moves—acquired CitizenM, launched StudioRes (a midscale extended-stay brand), introduced Series by Marriott (a regional collection brand starting in India), and announced plans to open 50 new properties across Africa by 2027.

Who Owns Marriott: Major Shareholders

Marriott International is a publicly traded company listed on the NASDAQ under the ticker symbol MAR. It is not owned by a single individual but by institutional investors, mutual funds, and individual shareholders. The largest stakes are held by investment management firms. The Marriott family, however, continues to maintain influence within the company, with J.W. Marriott Jr. serving as Executive Chairman.

This balance between institutional ownership and family involvement has allowed Marriott to remain both financially strong and culturally tied to its founding values.

Below is a list of the top shareholders of Marriott as of August 2025:

The Vanguard Group, Inc.

The Vanguard Group is Marriott’s largest institutional shareholder, with about 7.6% ownership, equal to more than 20.6 million shares. Vanguard manages trillions in global assets through index funds and retirement products. Its investment in Marriott demonstrates confidence in the stability of the hospitality sector and the company’s long-term growth.

Although Vanguard is a passive investor, its voting power is substantial. Through its funds, Vanguard supports governance reforms, executive accountability, and sustainability policies. Its role is not to interfere in day-to-day operations but to safeguard shareholder value for millions of investors who indirectly own Marriott shares through Vanguard-managed funds.

BlackRock, Inc.

BlackRock owns around 3.4% of Marriott, translating to roughly 9.2 million shares. As the world’s largest asset manager, BlackRock’s presence adds credibility to Marriott’s investor base. BlackRock often uses its holdings to influence corporate governance, especially regarding environmental, social, and governance (ESG) practices.

While it does not micromanage Marriott’s strategy, its votes in shareholder meetings matter when electing board members or deciding on key corporate policies. BlackRock’s stake reflects both its confidence in Marriott’s resilience after global travel disruptions and its belief in the long-term growth of the lodging industry.

State Street Global Advisors

State Street holds approximately 3.4% ownership, also close to 9.1 million shares. It manages assets for pension funds, governments, and institutions. Like Vanguard and BlackRock, State Street is largely a passive investor, but its shareholding gives it influence during annual meetings and governance votes. State Street typically supports management while encouraging strong oversight structures.

Its consistent investment highlights Marriott’s appeal as a stable, income-generating stock within the hospitality sector.

JPMorgan Asset Management

JPMorgan owns about 2.8% of Marriott, or nearly 7.5 million shares. Unlike purely passive managers, JPMorgan Asset Management often takes an active interest in companies where it invests. Its analysts and managers monitor performance closely and sometimes engage with leadership on financial or strategic matters.

The stake signals confidence in Marriott’s ability to expand across global markets and sustain strong cash flows from management and franchise fees.

Wellington Management

Wellington controls about 2.6% ownership, equivalent to 7.0 million shares. As one of the oldest independent investment firms, Wellington is known for long-term, research-driven strategies. Its stake in Marriott signals faith in the company’s ability to innovate, attract both business and leisure travelers, and adapt to changing travel patterns. Wellington’s active approach also means it could influence Marriott’s focus on profitability and capital allocation.

FMR LLC (Fidelity Investments)

Fidelity holds around 2.4% of Marriott, or roughly 6.5 million shares. Fidelity operates some of the most widely held mutual funds in the U.S., making its investment in Marriott significant for retail investors who indirectly hold Marriott shares through Fidelity’s funds. Fidelity tends to invest in companies with strong global reach, and Marriott’s unmatched hotel portfolio makes it an attractive long-term holding.

Capital Research & Management

Capital Research owns about 2.1% of the company, around 5.7 million shares. Known for managing the American Funds family, Capital Research focuses on consistent returns through careful stock selection. Its investment in Marriott reflects confidence in the steady income Marriott generates through franchise fees and its growing global footprint. Capital Research’s support signals that Marriott is viewed as a reliable growth and dividend-paying company.

Geode Capital Management

Geode Capital holds approximately 1.9% ownership, equal to 5.1 million shares. Geode is closely tied to managing assets for Fidelity index funds, making it another important passive player. Its stake reinforces Marriott’s position in broad market indexes and retirement portfolios, giving the company a wide retail investor base.

Massachusetts Financial Services (MFS)

MFS owns about 1.4% of Marriott, or around 3.8 million shares. As one of the oldest U.S. asset managers, MFS emphasizes disciplined long-term investing. Its ownership represents institutional faith in Marriott’s ability to remain competitive in luxury, premium, and midscale hotel segments worldwide.

J.W. “Bill” Marriott Jr.

Bill Marriott Jr., the Executive Chairman and son of the founder, is the single largest individual shareholder. He owns approximately 11.3% of Marriott, which equals nearly 30.5 million shares.

Even though he stepped back from CEO duties, his ownership and role on the board give him substantial influence over corporate strategy. Bill Marriott represents the continuity of family values and legacy, ensuring Marriott remains connected to its founding vision.

Richard Marriott

Richard Marriott, brother of Bill Marriott Jr., holds about 4.0% of Marriott, or around 10.8 million shares. His involvement strengthens the family’s voting power and helps maintain the Marriott family’s unified presence in decision-making.

JWM Family Enterprises, LP

The family’s investment vehicle, JWM Family Enterprises, controls about 4.7% ownership, equal to 12.7 million shares. This holding consolidates family wealth and ensures cohesion in voting, giving the family an organized structure to influence Marriott’s governance.

John Marriott

John Marriott, another family member, owns about 2.55% of the company, representing nearly 6.9 million shares. His stake contributes to the family’s overall influence and ensures that multiple branches of the Marriott family remain directly invested in the company’s success.

J. Willard and Alice S. Marriott Foundation

The Marriott Foundation, established in honor of the company’s founders, owns roughly 1.2% of the shares, about 3.2 million shares. While its focus is philanthropy, the foundation’s ownership ensures that the Marriott name and values remain tied to the company’s shareholder base.

Other Insiders

Company executives and directors, outside of the family, own about 7.5% of Marriott, or nearly 20.2 million shares. This group includes CEO Anthony Capuano and other top leaders who hold stock through direct ownership and compensation packages. Insider ownership ties management incentives directly to shareholder performance, aligning leadership with investors.

Retail and Public Investors

The general public, including small retail shareholders, owns around 20–21% of Marriott, or more than 55 million shares combined. While individual investors do not have much voting power, collectively they represent a meaningful portion of ownership. They provide liquidity in the stock market and ensure Marriott remains broadly accessible to everyday investors.

Who is the CEO of Marriott?

Marriott International is currently led by Anthony “Tony” Capuano, who serves as the President and Chief Executive Officer. He took on the role in February 2021 following the sudden passing of former CEO Arne Sorenson. Under his leadership, Marriott has focused on expanding its global footprint, strengthening digital customer engagement, and adapting its operations to post-pandemic travel trends.

Background of Anthony Capuano

Tony Capuano joined Marriott International in 1995 as part of the Lodging Development group. Over the years, he held multiple leadership positions and was instrumental in Marriott’s growth across North America and international markets. Prior to becoming CEO, he served as Group President for Global Development, Design, and Operations Services. His deep experience in hotel development and operations positioned him as a natural successor to guide the company through a period of transformation.

Leadership Style and Vision

Capuano is known for his collaborative leadership style and focus on innovation. He has emphasized sustainability, technology integration, and loyalty program growth. Under his guidance, Marriott has invested heavily in its Bonvoy loyalty program, enhanced mobile booking technology, and expanded luxury and lifestyle brands worldwide. His vision centers on keeping Marriott competitive in a changing hospitality landscape while maintaining its reputation for service excellence.

Past CEOs of Marriott

Marriott International has had only a few leaders in its long history. The company was founded in 1927 by J. Willard Marriott, who served as its first leader. His son, J.W. “Bill” Marriott Jr., took over in 1972 and ran the company for four decades, overseeing its transformation into the world’s largest hotel chain. In 2012, Arne Sorenson became the first non-family CEO, leading the company through the historic acquisition of Starwood Hotels & Resorts in 2016. After his passing in 2021, Tony Capuano stepped into the role and continues to lead in 2025.

Decision-Making Structure

Marriott’s leadership structure is guided by a combination of the CEO, the Board of Directors, and executive management. Capuano works closely with the Board, which includes members of the Marriott family and independent directors, to set long-term strategy. Day-to-day decision-making is supported by a global executive team overseeing operations, finance, brand strategy, and technology. This structure ensures both stability and adaptability as Marriott navigates global challenges.

Marriott Annual Revenue and Net Worth

Marriott International remains a financial powerhouse in the hospitality industry. In 2025, the company’s annual revenue is projected to surpass $28 billion, while its market capitalization, or net worth, stands at around $67 billion. These figures highlight Marriott’s strong recovery, steady growth, and dominant position as the world’s largest hotel chain.

Here’s an overview of the historical revenue and net worth of Marriott from 2015-25:

Marriott Annual Revenue

As of 2025, Marriott International continues to hold its position as the largest hotel chain in the world, both in number of rooms and global reach. The company reported annual revenue of approximately $26.7 billion in 2024, reflecting steady growth in travel demand, particularly in luxury and international markets.

Early estimates for 2025 suggest Marriott’s revenue will cross $28 billion, driven by increased occupancy rates, higher average daily rates (ADR), and a strong recovery in business and leisure travel across Asia and Europe.

Marriott’s loyalty program, Bonvoy, also plays a crucial role, contributing to a large portion of repeat bookings and ancillary revenue.

Marriott Net Worth

Marriott’s market capitalization in 2025 stands at around $67 billion, making it one of the most valuable hospitality companies globally. This valuation reflects not only the company’s financial strength but also investor confidence in its global expansion and diversified brand portfolio.

The company’s net worth is supported by its asset-light model, where most hotels are managed or franchised rather than owned, reducing financial risk while generating high-margin fee income. This structure ensures stable earnings even during fluctuations in global travel demand.

Financial Growth Drivers

Marriott’s revenue and net worth are fueled by a combination of growth strategies. Its expansion into luxury and lifestyle brands, aggressive international development in markets like China, India, and the Middle East, and technological investments in digital booking platforms all contribute to its financial success. Additionally, Marriott’s scale gives it strong bargaining power with suppliers and travel partners, further strengthening its profitability.

Long-Term Financial Outlook

Looking ahead, Marriott’s financial outlook remains strong. Analysts expect continued growth in both revenue and earnings over the next several years as global travel reaches new highs. Its resilient business model, supported by its diverse portfolio of over 30 brands across 139 countries, positions the company to remain a dominant force in the hospitality industry.

Brands Owned by Marriott

Marriott International owns and operates more than 30 hotel brands across different market segments, from budget to luxury.

Below is a list of the major companies, subsidiaries, and brands owned by Marriott as of 2025:

The Ritz-Carlton

The Ritz-Carlton is Marriott’s flagship luxury brand. It is operated through The Ritz-Carlton Hotel Company, L.L.C., a Marriott subsidiary. The brand focuses on service rituals, club lounges, and destination-led luxury. Marriott controls brand standards, distribution, loyalty participation, and management contracts across the portfolio.

St. Regis

St. Regis sits at the ultra-luxury tier with a heritage tied to the original New York property. The brand emphasizes butler service and residential-style suites. Marriott owns the global brand rights and operates or franchises properties under strict design and service requirements.

JW Marriott

JW Marriott is a luxury brand positioned for understated elegance. It targets business leaders and premium leisure guests. Marriott owns the brand and scales it via management and franchise deals in gateway cities and resort markets.

W Hotels

W Hotels is a luxury lifestyle brand known for bold design and nightlife culture. Marriott owns and operates the brand globally following its integration in 2016. It focuses on music, fashion, and contemporary design, with strong city-center footprints.

The Luxury Collection

The Luxury Collection is a soft brand for independent, high-end hotels with strong local identity. Properties retain unique character while adopting Marriott systems. Marriott owns the brand rights and sets collection criteria and quality controls.

EDITION

EDITION is a luxury lifestyle collaboration developed with hotelier Ian Schrager. Marriott owns the brand rights and handles development, distribution, and operations. The concept blends intimate scale, nightlife energy, and bespoke design in top global markets.

Marriott Hotels & Resorts

Marriott Hotels & Resorts is the company’s namesake premium brand. It targets business and meeting segments with large room counts and significant banquet space. Marriott owns the brand, defines design packages, and expands via management and franchise agreements.

Sheraton

Sheraton is one of the longest-standing global hotel brands in the premium segment. Marriott owns the brand and has been executing a multi-year repositioning focused on lobby activation and productivity spaces. The brand remains a core meetings and conventions platform.

Westin

Westin is a premium wellness-focused brand. Its identity centers on sleep programs, fitness, and natural materials. Marriott owns the brand rights and standardizes wellness touchpoints across global properties.

Renaissance Hotels

Renaissance is a premium lifestyle brand emphasizing local discovery and design. Marriott owns the brand and deploys it in urban cores and convention markets. It leverages distinctive lobbies, bar programs, and curated neighborhood content.

Le Méridien

Le Méridien is a premium brand rooted in European mid-century modern design and café culture. Marriott owns the brand and grows it through conversions and adaptive reuse in city and resort locations.

Autograph Collection

Autograph Collection is a premium soft brand for independent hotels. Marriott owns the brand and sets the selection and curation framework. Hotels retain individuality while accessing Marriott Bonvoy and enterprise systems.

Tribute Portfolio

Tribute Portfolio is a premium boutique soft brand. Marriott owns the brand and focuses on creative, design-forward independents. It provides a flexible path for conversions with lighter brand mandates than hard brands.

Courtyard by Marriott

Courtyard is a leading select-service brand for business and short-stay travelers. Marriott owns the brand and scales it aggressively through franchising. It emphasizes functional rooms, social lobbies, and breakfast and bar offerings.

Four Points by Sheraton

Four Points is an upper-midscale/select-service brand. Marriott owns the brand rights and positions it as reliable, value-driven, and conversion-friendly. The brand is common in secondary cities and airport markets.

SpringHill Suites

SpringHill Suites is an all-suite select-service brand in North America. Marriott owns the brand and standardizes spacious suites with work zones and expanded breakfast. It targets road-warrior and family segments.

Fairfield by Marriott

Fairfield is an efficient select-service brand with a clean, calm aesthetic. Marriott owns the brand and deploys it across suburban, roadside, and secondary markets. It is often a first-time developer brand due to cost efficiency.

Residence Inn by Marriott

Residence Inn is an extended-stay brand. Marriott owns the brand and focuses on suites with kitchens, longer-stay amenities, and social programming. It is a cornerstone of Marriott’s extended-stay platform.

TownePlace Suites

TownePlace Suites is a lower-cost extended-stay brand. Marriott owns the brand and optimizes for longer stays with in-room kitchens and adaptable storage. It is common in suburban employment corridors.

Element

Element is an extended-stay and select-service hybrid with a sustainability angle. Marriott owns the brand rights and promotes natural light, kitchenettes, and wellness features. It expands in both urban and suburban nodes.

AC Hotels by Marriott

AC Hotels is a design-led select-service brand with Spanish roots. Marriott owns the global brand rights and has integrated it into its European and North American pipeline. It features minimalist rooms and activated public spaces.

Moxy Hotels

Moxy is an economy-lifestyle brand with playful public spaces and compact rooms. Marriott owns the brand rights and expands via cost-efficient modules and strong F&B activation. It targets next-gen travelers seeking style at lower price points.

Aloft Hotels

Aloft is a select-service lifestyle brand known for music programming and open, loft-style rooms. Marriott owns the brand rights and continues to grow Aloft in tech and university markets.

Protea Hotels by Marriott

Protea is a regional brand focused on sub-Saharan Africa, including Protea Hotel Fire & Ice! and African Pride. Marriott owns the brand rights and uses it as a platform for conversions and local development across the continent.

City Express by Marriott

City Express by Marriott is a midscale brand platform across Latin America. Marriott owns the brand rights acquired via the City Express transaction and operates multiple sub-brands. It expands Marriott’s reach to value-driven business and leisure travelers.

StudioRes

StudioRes is Marriott’s midscale extended-stay concept introduced to capture longer-stay demand at accessible price points. Marriott owns the brand and standardizes efficient room layouts, kitchenettes, and simplified services. It targets workforce mobility and project-based stays.

Series by Marriott

Series by Marriott is a regional collection brand created for flexible conversions. Marriott owns the brand framework and enables owners to retain local identity while tapping Marriott distribution. It is designed to accelerate growth in markets that value lighter brand standards.

The Ritz-Carlton Hotel Company, L.L.C.

The Ritz-Carlton Hotel Company, L.L.C. is a wholly owned Marriott subsidiary that governs The Ritz-Carlton brand system, standards, and service culture. It manages agreements, training, brand IP, and product evolution in coordination with Marriott corporate.

Starwood Hotels & Resorts Worldwide

Starwood Hotels & Resorts Worldwide became a Marriott subsidiary after the 2016 merger. It brought key brands such as W Hotels, St. Regis, The Luxury Collection, Westin, Sheraton, Le Méridien, Aloft, and Element. The subsidiary structure houses legacy IP, brand systems, and integration assets under Marriott.

Design Hotels

Design Hotels is a majority-owned Marriott subsidiary that connects independent design-forward hotels to Marriott’s distribution and loyalty ecosystem. It preserves hotel individuality while offering advisory, sales, and global reach under an affiliation model.

Marriott Executive Apartments

Marriott Executive Apartments is an extended-stay brand outside North America. Marriott owns the brand rights and positions it for corporate relocations and long assignments. Units include apartment-style layouts and services tailored to international travelers.

Delta Hotels by Marriott

Delta Hotels is a premium brand integrated into Marriott’s North American and international network. Marriott owns the brand rights and focuses it on essential, streamlined full-service delivery. It competes in meetings, sports, and drive-to markets.

Gaylord Hotels

Gaylord Hotels are large meetings-and-conventions resorts that Marriott operates under long-term management agreements. Marriott does not own the real estate or the Gaylord brand itself, but it runs sales, distribution, and group programming under the operating platform.

Bulgari Hotels & Resorts

Bulgari Hotels & Resorts properties are operated by Marriott under a luxury partnership agreement. Marriott does not own the Bulgari brand. It provides distribution, operations expertise, and loyalty connectivity while honoring Bulgari’s brand ownership and identity.

All-Inclusive by Marriott Bonvoy

All-Inclusive by Marriott Bonvoy is a cross-brand platform for resort properties that deliver one-price packaging across F&B, activities, and entertainment. Marriott owns the platform concept and commercial standards. Properties run under multiple Marriott luxury and premium brands that meet all-inclusive criteria.

Marriott Bonvoy

Marriott Bonvoy is Marriott’s global loyalty ecosystem. Marriott owns and operates the program, including points currency, elite tiers, co-brand credit card partnerships, and redemptions. It is a strategic moat that drives direct bookings, data insights, and lifetime value across all brands.

Marriott Digital and Distribution Platforms

Marriott owns and operates its direct booking channels, mobile app, and revenue-management systems. These platforms power pricing, inventory control, personalization, and owner services. They are a core part of Marriott’s asset-light model and brand performance.

Corporate Meetings, Events, and Sales Ecosystem

Marriott operates a global meetings and events engine that aggregates group demand across brands. It owns the standards, RFP workflows, and seller networks. This capability is critical for full-service and convention-oriented brands.

Notable Brand and Company Acquisitions

Marriott’s portfolio expansion is anchored in strategic deals. It integrated Starwood in 2016 to add luxury and lifestyle depth. It brought Protea into the group to accelerate African growth. It integrated Delta Hotels to expand in Canada and targeted U.S. growth. It acquired brand rights to City Express to enter scalable midscale in Latin America. It incorporated AC Hotels, Moxy, and other lifestyle concepts to broaden price-point and design coverage.

Operating Model and Control

Marriott primarily uses an asset-light model. It owns brand IP and standards. It signs long-term management and franchise agreements to scale globally while limiting real estate risk. It exercises control through brand audits, design approvals, loyalty participation, and revenue-management systems.

Conclusion

Marriott International is owned by a mix of institutional investors and the Marriott family. While firms like Vanguard, BlackRock, and State Street hold the largest stakes, the Marriott family remains central in leadership and decision-making. With a history that began as a small family business, the company has grown into a global hospitality giant, owning iconic brands and generating billions in revenue every year.

FAQs

Who owns the Marriott hotels?

Marriott International owns, manages, and franchises its hotels under various brand names. While the Marriott family founded the company and still holds a significant share, ownership today is divided among institutional investors, public shareholders, and the Marriott family. The company trades on the NASDAQ under the ticker symbol MAR.

Who owns the majority of Marriott?

The majority of Marriott International is owned by institutional investors such as The Vanguard Group, BlackRock, State Street, and others, along with the Marriott family. No single entity has complete majority control. Instead, ownership is spread across multiple large shareholders, with the Marriott family remaining influential.

Who is Marriott owned by?

Marriott International is not owned by a single company. It is a publicly traded corporation with shares owned by institutional investors, mutual funds, and private shareholders, including the Marriott family.

Who owns Marriott hotel chain?

The Marriott hotel chain is owned by Marriott International, Inc. The company franchises and manages properties under more than 30 brands globally, but individual hotels may be owned by independent property investors who operate under Marriott’s brand and management agreements.

Who founded Marriott?

Marriott was founded in 1927 by J. Willard Marriott and his wife Alice Marriott. They began with a small root beer stand in Washington, D.C., which later expanded into restaurants and hotels, eventually growing into today’s global hospitality giant.

What is Marriott family net worth?

The Marriott family, primarily through J.W. “Bill” Marriott Jr., has an estimated net worth of over $3 billion in 2025. Much of this wealth comes from their stake in Marriott International and decades of leadership in the company.

Is Marriott owned by Hilton?

No, Marriott is not owned by Hilton. They are two separate companies and direct competitors in the global hospitality industry.

Who is richer, Hilton or Marriott?

As of 2025, Marriott International is richer than Hilton in terms of revenue and market capitalization. Marriott generated around $24 billion in revenue in 2025 and maintains a higher market cap compared to Hilton, making it the larger hospitality company.

Is Ritz-Carlton part of Marriott?

Yes, Ritz-Carlton is part of Marriott International. Marriott acquired The Ritz-Carlton Hotel Company in 1998 and continues to operate it as one of its flagship luxury brands.

Is Radisson part of Marriott?

No, Radisson is not part of Marriott. Radisson Hotels is a separate hospitality group that has no corporate link to Marriott International.

Is Hilton linked to Marriott?

Hilton and Marriott are not linked. They are independent companies and competitors, each operating their own hotel brands worldwide.

Did Marriott buy Hyatt?

No, Marriott did not buy Hyatt. Hyatt Hotels Corporation remains an independent company and a competitor in the global hotel industry.

Is Marriott owned by the Marriott family?

The Marriott family remains influential and holds shares, but the company is primarily owned by institutional investors.

How many brands does Marriott own?

Marriott owns more than 30 brands, ranging from luxury to budget-friendly hotels.

Where is Marriott headquartered?

Marriott International is headquartered in Bethesda, Maryland, USA.