The hospitality industry has been suffering during the pandemic due to low tourism rates across the country.
The hospitality industry has been one of the sectors hardest hit by the pandemic, but as Covid vaccine distribution gains headway, new Marriott CEO Tony Capuano expects its business to bounce back quickly.
Sixty percent of Marriott’s bookings in 2019 were from business travelers. Since more companies now are adapting to remote workplaces, some industry watchers are worried the trend will dent the hotel industry forever, but not Capuano.
“As the vaccine gets widely distributed, we see pretty strong and steady prospects for demand growth,” Capuano told CNBC’s Seema Mody in an interview Wednesday.
Capuano was recently tapped as the hotel chain’s CEO, following the death of its former leader Arne Sorenson on Feb. 15. Sorenson had been battling pancreatic cancer.
Marriott is the largest hotelier with 1.4 million guest rooms worldwide.