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Maritz Inc.

From Wikipedia, the free encyclopedia

Maritz Inc. is an integrated business services company based in St. Louis, Missouri. It offers performance improvement, incentive travel, and marketing research services. The 100+ year-old company remains privately held and family-owned and is controlled by current Chairman and CEO Steve Maritz.

The Maritz business history grew out of providing the original “gold watch” as an incentive for companies to provide to employees with long tenure or high performance. The company experienced significant growth due primarily to its business-to-business rewards and incentive management in the 80s and 90s. It also experienced significant growth by managing group and incentive travel for major Fortune 500 clients. The Maritz Research division of is known as one of the largest providers in the world of market research to the automotive industry.

Due to major changes in the industry, the company began managing consumer rewards in the late 1990s for various credit card and hotel rewards programs. A new business division, Maritz Loyalty Marketing Group re-established the company as an industry leader by taking advantage of the huge growth of rewards programs by credit card companies, manufacturers, banks, hotels and other industries. From 1998 through 2004, the company became well-known within the industry as a leader along with Carlson Group in providing consumer-focused reward programs, travel and incentives.

In the mid-2000s, the company significantly divested itself of a number of its major business units, including corporate travel, research data collection services, and its European operations. Once boasting nearly 7,000 employees, the company is currently about half the size as it was during its peak and has experienced considerable management turnover. The company is also currently embroiled in a bitter and long-running family legal dispute over control of the firm, its market value and its overall future. Maritz remains one of St. Louis’ largest privately held firms and a significant charitable contributor.

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