Skift Take
Capuano has transformed the world's largest hotelier from an operator of traditional hotels to a group that runs all kinds of lodging, from vacation rentals to luxury cruise ships.
Key Points
Summary
Anthony Capuano, who graduated from Cornell’s hotel school in 1987, became CEO of Marriott International in February 2021 following the death of Arne Sorenson. Under Capuano's leadership, Marriott has achieved significant growth, especially in the luxury segment, and has introduced new midscale brands. The company is also undergoing a major technology transformation. Capuano's leadership style emphasizes transparency and employee well-being, mirroring the values of his predecessor.
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When Anthony Capuano graduated from Cornell’s prestigious hotel school in 1987, he received seven job offers — and one rejection letter. It was from Marriott International.
No matter. By 1995, Marriott saw its error and hired Capuano. Over the next quarter-century, he progressed through Marriott’s ranks in a series of development roles.
In February 2021, Capuano took over Marriott after the beloved CEO, Arne Sorenson, died of pancreatic cancer. Capuano faced post-pandemic issues like China’s prolonged lockdown and a delayed recovery of business travel. In 2022, Marriott reported record fees and adjusted EBITDA.
When a hotel group is the world’s largest – and Marriott has more than 1.6 million rooms to fill daily – the biggest difficulty is maintaining momentum. One of Capuano’s biggest recent achievements has been keeping his company on course to achieve at least 6% a year growth in net room count.
“We’re currently averaging two-and-a-half [development] deals a day, which is a remarkable pace,” Capuano said earlier this year.
Before Capuano, Marriott was best known for its reliable, “upscale” brands. Now, the group is expanding quickly in the luxury segment, too. Today, the company has over 520 open luxury hotels, more than 230 in its signed pipeline, and a luxury cruise line called The Ritz-Carlton Yacht Collection.
Capuano also expanded the company’s reach to include reliable but economical hotels. His team recently introduced three “midscale” brands: City Express by Marriott, StudioRes, and Four Points Express by Sheraton. His effort to broaden the company’s range of offerings has also included turbo-charging its vacation rental business, Homes & Villas, from a few thousand listings to over 160,000.
Upping Marriott’s tech game is also high on Capuano’s agenda. The company is undergoing a “technology transformation,” including the multi-year re-platforming of its reservations, property management systems, and loyalty program.
Capuano’s leadership style is marked by a commitment to transparency, humility, and authenticity, traits he admired in Sorenson. Symbolically, the top 21st floor at the Marriott headquarters that opened in 2022 is an employee growth and learning center, while the CEO works in an interior central office on a lower floor.
“Caring for our associates is critical because they’re the heart of our business,” Capuano said. “Plus, Bill Marriott has always said it’s just the right thing to do.”
CEO Anthony Capuano at Skift Global Forum
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Tags: future of lodging, marriott, sgf hotels