With the idea of making Marriott International a one-stop shop for every travel. The CEO Anthony Capuano has sought to expand the company in various nonhotel avenues since he took over in 2021. His nonhotel avenues includes luxury safaris, outdoor cabins, and, of course, yachts. In his view, the closer the company gets to 100% of your travel budget, the better.
Expanding Beyond Hotels
Capuano’s approach has brought to Marriott the likes of the J.W. Marriott Masai Mara safari lodge, Ritz-Carlton Yacht Collection, as well as outdoor offerings such as the Postcard Cabins and Trailborn. Under Marriott Homes and Villas, vacation rentals also joined the platform with over 160,000 properties offered.
Record Growth
In 2024, Marriott opened an unprecedented 123,000 rooms and signed deals for another 162,000 yet. While being the world’s largest hotel company, it managed a net growth of 6.8% of room capacity, with almost 580,000 rooms in the development pipeline.
Becoming More Agile
To ensure its nimbleness, Marriott downsized by 16% in corporate staff, empowering regional leaders in decision-making. Consequently, decision-making executed by local teams in places like India is quicker without having to wait for HQ sign-off.
Focus on Luxury
Marriott is doubling its efforts in luxury, with 658 hotels globally and another 266 in the pipeline. Capuano also created a new role for a president of luxury to ensure these properties deliver exquisite high-end experiences.
Simplifying Brands
With over 30 brands in its portfolio, Marriott is working to create unique identities for all of them. “We want to make sure that every guest feels they are receiving the best service for the best value, whether you are at a budget hotel or a luxury resort,” said Capuano.
Loyalty Program Growth
Marriott members in the Bonvoy program now number 219 million and the company is investing in technology to allow these members to redeem points in a simple manner, for stays, safaris, and even coffee at Starbucks.
Leadership Style
Capuano prefers concise meetings with minimal PowerPoint slides. He credits his team, including CFO Leeny Oberg, for driving growth and innovation. He also emphasizes Marriott’s mission to serve guests, employees, and property owners equally.
Helping in Crises
During the Los Angeles fires, Marriott provided 300 rooms for firefighters, showcasing its commitment to community support.
Reference:
- Skift interview with Anthony Capuano at the Americas Lodging Investment Summit (2024).
- Marriott International’s 2024 growth and development reports.
