Marriott CEO Talks Future Concerns
by Jessica Montevago /Marriott International’s Arne Sorenson said his biggest concern for the future of the hotel industry is the effect of domestic and international terrorism.
“It’s a threat to our business,” the chief executive said Friday at the Society of American Business Editors and Writers in Washington D.C. He said after an attack, governments are inclined to “emphasize and strengthen their borders,” worrying tourists or making it difficult for them to travel.
However, Sorenson is still optimistic about Marriott’s future. This summer the company is expected to close its long-awaited merger with Starwood Hotels & Resorts. He expects Starwood’s loyalty rewards program to increase business; Marriott’s own program already drives about 50% of revenue and stays, Sorenson said.
