Marriott boss sees business travel and leisure travel converge
Arne Sorenson, CEO and president of Marriott International, the world’s biggest hotelier, told listeners at an industry event that the company sees a convergence of business and leisure travel. That means fast wifi and clean rooms aren’t enough: travellers increasingly want a more comprehensive hospitality service, impacting time spent thinking about design, experience, dining, and more. Ultimately, this trend will have a huge impact on the hospitality industry – the hoteliers that see loyal, returning, customers will be the ones that cater to these preferences.
Marriott’s share price has appreciated by 56% year to date
SOURCE: Yahoo Finance
Speaking at the 2017 Skift Global Forum, Sorenson explained the effect of this trend, and how it impacts Marriott:
“Increasingly, what we see is people are combining those trips, and when they are on business travel, they want to have personal experiences. Or they’re taking trips that have dual purposes associated with it. What that means is we’ve got to be on our toes more. We’ve got to make sure that the hotels are delivering not just what a business traveler wants in terms of consistency and wireless connectivity and ease of doing business, but that we’re delivering the kind of special emotional experiences that leisure travelers often want to have, and we do that for both kinds of customers.”
Dominion holds Marriott International in its Global Trends Luxury Fund.
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