Marriott International, Inc. is an American multinational diversified hospitality company that manages and franchises a broad portfolio of hotels and related lodging facilities. Founded by J. Willard Marriott, the company is now led by his son, executive chairman Bill Marriott, and president and chief executive officer Arne Sorenson. Marriott International is the largest hotel chain in the world by number of available rooms. It has 30 brands with 7,484 properties in 131 countries and territories around the world, over 1,400,693 rooms, including 2,104 that are managed with 573,043 rooms, 5,314 that are franchised or licensed with 812,006 rooms, and 66 that are owned or leased with 15,644 rooms, plus an additional 510,000 rooms in the development pipeline, including 230,000 that were under construction, and an additional 28,000 rooms approved for development but not yet under signed contracts.