The Ritz-Carlton Hotel Chain is the main or can be considered to be the mother company to the high cost and luxury hotels that use the brand name ‘Ritz-Carlton Hotels.’ The Ritz Charlton hotel company is basically a subsidiary of the legendary Marriott International. They also have other marketing deals and agreements with the Bulgari Resorts and Hotels and other privately owned establishments like the Hotel Ritz situated in Madrid and the Ritz Hotel found in London. In the year 1983 the brand changed hands and the new owners begun to expand the brand and diversifying to some other locations. According to Michelli, J. (2008) the company developed to become a leader in hospitality the in the entire US under the impetus of Horst Schulze.
One of the strategy that Schulze used to make the company what it is today include his strong conviction, the loyalty of customers and his emphasis on mission and value driven way of doing things. Under the leadership of Schulze the hotels got an unprecedented award in regard to quality and best services offered. According to Plunkett, J. (2008) during the time when Schulze was in leadership, the Ritz-Carlton sort of became popular for its emphasis on service in quite a number of industries. By creating The Ritz-Carlton Institute for learning and their leadership and training center, the company increasingly became popular and respected.
In the year 1995, a company by the name Marriott International bought a fifty percent (50%) share in The Ritz-Carlton Hotel chain company, and just after three years, they bought the remaining fifty percent (50%) shares, a move that saw them take almost full ownership and unfortunately Schulze together with other senior executives in the company left to create another group of hotels called the West Paces. The Ritz-Carlton chain of hotels is at the moment headquartered in Washington. The Ritz-Carlton chain of hotels got in to a partnership with other companies like Bulgari in the year 2001.Simon Cooper became the president of Ritz-Carlton at some point in the year 2001 replacing Horst Schulze. Cooper’s main mandate was to do nothing but to grow the company through aspects like expansion and diversification. Under his watch the company has greatly expanded its operation and has added more private units and also some other ownership residences (Riewoldt, O. 2006). This was just additions to the many mentioned services that they offer like catering services, boarding services, training services and rooms for conferences.