Op-ed: It's not often a CEO touches you at your core, but Marriott's Arne Sorenson did just that
Following the news of his death after a nearly two year battle with pancreatic cancer, several current and former Marriott International employees shared how CEO Arne Sorenson lead with his heart. As a journalist covering the company for several years, Sorenson's warmth was evident. Unlike other corporate heads who tend to stick to the script, Sorenson didn't hold back in interviews and hardly ever minced words. Earlier this year, Sorenson was one of the first CEOs to speak out and condemn the Jan. 6 riot at the U.S. Capitol. At the height of the coronavirus pandemic, when hundreds of Marriott employees were furloughed, Sorenson teared up in an address to employees in mid-March.cnbc.com
Marriott CEO Arne Sorenson dies at 62
In this Dec. 19, 2012, file photo, Marriott CEO Arne Sorenson speaks during a groundbreaking ceremony for a Marriott hotel in Port-au-Prince, Haiti. Marriott Jr., the company's executive chairman, said Sorenson loved every aspect of the hotel business and relished traveling and meeting employees around the world. Sorenson was the first Marriott CEO whose name was not Marriott, and only the third to lead the company in its 93-year history. They love to travel for themselves personally and they love to travel for work," Sorenson said in November. RIP Arne Sorenson, the ceo of Marriott, a great man who believed that business is the greatest source for social change.cbsnews.com
Marriott CEO Sorenson, 62, dies of pancreatic cancer
FILE - In this Dec. 19, 2012, file photo, Marriott CEO Arne Sorenson speaks during a groundbreaking ceremony for a Marriott hotel in Port-au-Prince, Haiti. Sorenson was the third CEO in Marriotts 93-year history, and the first without the Marriott surname. Sorenson reduced his schedule at Marriott this month to pursue a more aggressive cancer treatment. He was first diagnosed with pancreatic cancer in 2019; a recent routine scan had confirmed the cancer had returned, the company said. Sorenson was the first Marriott CEO whose name was not Marriott, and only the third to lead the company in its 93-year history.
Marriott CEO Arne Sorenson dies at 62
Marriott International chief executive Arne Sorenson has died after a battle with pancreatic cancer, the hotel giant said Tuesday. Sorenson, the third CEO in Marriott's history, stepped away from his management role earlier this month two years after the company revealed his cancer diagnosis. "Arne was an exceptional executive — but more than that — he was an exceptional human being," said JW Marriott Jr., executive chairman. In this Dec. 19, 2012, file photo, Marriott CEO Arne Sorenson speaks during a groundbreaking ceremony for a Marriott hotel in Port-au-Prince, Haiti. The company said Sorenson, the first CEO not from the Marriott family, steered the hotel giant "to make significant progress on diversity, equity and inclusion, environmental sustainability and human trafficking awareness," according to the company.cbsnews.com
Marriott CEO Arne Sorenson dies after battle with cancer
Arne Sorenson, who turned Marriott International into the world's largest hotel chain after acquiring Starwood Hotels & Resorts in a $13 billion deal in 2016, has died. Sorenson, the third CEO in Marriott's history and the first outside the founding family, died Monday, the company said. Sorenson expanded Marriott's presence worldwide under dozens of brands, including W Hotels, Ritz-Carlton, Courtyard and Sheraton. Sorenson, who took the CEO role in 2012, was the son of a Lutheran missionary. Bill Marriott, son of Marriott's founder J. Willard Marriott, ending up convincing Sorenson to join his hotel business in 1996, as associate general counsel.cnbc.com
Marriott bounces back as activity in China surges
Marriott saw dramatic improvement in the third quarter as travel demand rebounded in China. Average occupancy at hotels in China hit 61% during the quarter, down just 10% from a year ago. Sorenson said leisure travelers who might usually go abroad are staying in China, boosting occupancy rates. Business and group demand is weaker, partly because international business travel — which normally accounts for 25% of Marriott's business in China — is down significantly. The trend toward remote work could accelerate a shift the industry was already seeing away from business travel, Sorenson said.
China business travel returns for Marriott, revenue tumbles
Marriott has reopened 91% of its hotels globally as business travel reemerges in China and worldwide occupancy, which tumbled to 11% in April, reached 34%. The company reported quarterly profits on Monday that fell far short of expectations, however, and revenue plunged. In China, where business travel and even some group events resumed, occupancy levels reached 60%, about 10% lower than the same period last year, Marriott said. Marriott had a net loss of $234 million for the second quarter after a $232 million profit in the April-June period last year. Adjusted for one-time items, Marriott lost 64 cents per share, far worse than the loss of 41 cents that Wall Street had expected, according to a survey by FactSet.
Marriott CEO: Coronavirus outbreak worse for business than 9/11 and 2008 financial crises combined
The coronavirus has hit Marriott International's business worse than 9/11 and the Great Recession combined, CEO Arne Sorenson said Tuesday. "What we're seeing is dramatically worse than what we saw in those two prior crises," Sorenson said on CNBC's "Squawk Alley." In those two crises, the worst quarterly declines in global revenue Marriott experienced was around 25%, Sorenson said in a Twitter video last week. And obviously at those levels there just isn't any business in hotels," said Sorenson, who suspended his salary for the year. Marriott announced last week it was beginning to furloughing tens of thousands of workers at the properties it manages.cnbc.com
Marriott CEO: Business in Hong Kong down 50% due to protest turmoil and slowing China
Shares in Hong Kong fell more than 2% on Tuesday, reflecting investor pessimism today about the local economy. "It's not surprising that Hong Kong is a very weak market today," Arne Sorenson, CEO of Marriott International told CNBC on "Squawk Box" Tuesday from Davos. "Top-line performance in Hong Kong will be down 50% first quarter of this year compared to a stable first quarter last year," he predicted. The government still at an impasse with protesters is trying to curb economic fears, all the while coping with U.S.-China trade war tensions. It has run advertisements and made promotional videos with the tagline "Hong Kong Is On," seeking to reassure investors and visitors that the Asian financial hub remains free and stable despite the street battles.cnbc.com
Marriott eliminating travel-sized toiletries
Glenn Hunt/Getty Images(CNN) - Another leading hotel company is eliminating tiny toiletries from its rooms. Marriott announced it's replacing travel-sized tubes of shampoo, conditioner and bath gel with larger bottles in an attempt to reduce plastic waste. Marriott said the small bottles currently used aren't usually recycled. Last month, IHG, which owns Holiday Inn, said it would replace travel-sized tubes with bulk-sized toiletries beginning in 2021. Hilton Hotels previously announced that it's recycling used soap, transforming it into new bars of soap after they've been crushed and sanitized.
Marriott CEO on changing travel patterns and future of hotels
Marriott CEO on changing travel patterns and future of hotels The Marriott hotel chain just opened hotel number 4,000. Mariott CEO Arne Sorenson joins the "CBS This Morning" co-hosts to discuss where his company and the travel industry is heading next.cbsnews.com