Source: CoStar Group
By Bryan Wroten
February 23, 2021
Tony Capuano is stepping into the role of CEO of Marriott International during the worst global crisis the hotel industry has faced.
In a communication he sent out to Marriott associates the morning his promotion was announced, he laid out the challenges the company faces from the ongoing COVID-19 pandemic. The company has overcome the lows experienced early in the pandemic, with occupancy now showing steady improvement, but continuing new cases of the virus remain a factor in markets around the world, he said.
Capuano said in an interview that he takes comfort in knowing that while he is now Marriott’s CEO, this is not a crisis he is left to navigate alone. The nearly 94-year-old company has an extraordinary group of long-tenured leaders who are battle-tested from their experiences in more conventional recessions, the tragic events of 9/11 and the financial crisis a decade ago, he said.
The team that has been working its way through the pandemic is now grieving the loss of their friend and leader, Arne Sorenson, he said. Sorenson, who served as president and CEO since 2012, died Feb. 15 from pancreatic cancer.