Arne Sorenson, Marriott CEO, attended Yahoo Finance’s All Markets Summit last week. He answered a broad range of questions, though two of the more interesting takeaways concern Marriott properties in Puerto Rico and the health of the US travel business.
The CEO notes that many Marriott properties in Puerto Rico and the Caribbean will be closed for extended periods of time due to the numerous September hurricanes. On the US hotel business, the CEO says that the anti-globalism rhetoric and “America’s unwelcoming message” is hurting the US travel business.
“Now in 2017 what we’re seeing is that there is a shift of international travel increasingly toward Europe, maybe within Asia. The rest of the world is hearing too many of the voices which are coming out of the United States as in effect, ‘You’re really not welcome here,’ ‘It might be difficult for you to get a Visa,’ ‘You may need to wonder about the experience you’re going to have there. I don’t know if that’s what the administration or anyone else intends the message to be. But that’s the way the message is heard in the rest of the world.”
In the second video below, Sorenson explains that any loss in travelers leads to a loss in jobs.
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12 comments
Of course it will affect travel. Dramatically so.
I worked hard to get my US citizenship. I’m disgusted with what’s going on, and am sadly giving up the “American Dream” and hence my US passport and going back to Europe. I don’t feel welcome anymore and I’m British, not Mexican or Syrian etc etc
My point being is I ain’t even a traveler looking to visit, I’m a resident and I want to run away, and never come back.
When I say never I mean it. Taking my significant investment (already sold up everything) and leaving.
Yeah yeah I know, Trump supporting redneck F’s worry not… I won’t let the door hit me in the ass.
Don’t feel bad. You have plenty of company. Still have a long list of Hollywood celebs who promised to leave and are still here. As usual, liberals talk a big game but rarely follow through. lol
That’s a reasonable response. I actually once killed a man that suggested I parked poorly. The cops were very understanding as his words were marginally offensive.
Just wondering if you noticed what you quoted the guy clearly saying: he “doesn’t know” if this “unwelcoming message” is what the administration intends. So apparently nothing the administration has actually said can be seen as telling visitors they aren’t welcome. Otherwise he’d “know” their intent, right? So if he doesn’t know, maybe he’s wrong? But the Left don’t need any actual evidence for evil when it comes to Trump. Either just assume, make it up or outright lie because we all know, as your header for this little enlightening post declares without any facts, “It’s Trump’s fault.” It’s obvious. Because we know Trump doesn’t want more visitors because Trump is a businessman and knows more visitors would mean more jobs and he certainly doesn’t want that. And he knows more jobs would only help the economy and obviously he doesn’t want the economy doing better. Yup, we all know Trump’s whole goal is to prevent economic growth and cut jobs. This makes perfect sense. If you’re a liberal and hate Trump that is. But good to know where you stand. Thanks and carry on!
As a lifetime Marriott Platinum member, I think Mr. Sorenson needs to stop blaming Mr. Trump (although I’m sure he isn’t helping) and start looking at the service levels his brands have been providing since he took over. I have over 2200 nights at Marriott, and I haven’t been there once this year. Surprisingly, Hilton welcomed me with open arms, and I see no reason to ever return to Marriott
Totally agree don’t blame the Pres. I had booked and had to cancel. Cancelation was not presidents fault it’s a natural disaster and things take time to repair.
Meanwhile, back in reality, the stock market is up about 20% since the election. Yet all we get from liberals is constant whining. Well, I guess you aren’t rioting and looting…at the moment. You don’t feel welcome, Andy? You mean all your liberal buddies, media, and celebs pissing on Trump at every opportunity isn’t a big enough safe space for you? Oh you poor baby. GTFU then crybaby.
PS I don’t believe you are from the UK, because no Brit with any self respect would say they are part of Europe!
Agreed. The message is clearly unwelcoming. And the tone of incivility is bleeding all over our society. Sad!
Andy, yes please go back to Europe and embrace their socialism. Just because you failed at the American dream doesn’t mean it died. My wife and I have started and owned from scratch three separated businesses. Never inherited a penny. We have for years worked many 60 hour work weeks, many times working 7 days a week. I learned from my parents hard work and never ending dedication will get you everywhere. My education is 2 years of tech school. We are now mult- millionaires and lead a great life. I also have 3 friends who are millionaires and not one of them inherited a penny or has a four year degree. They all choose to be self employed, believing in self reliance, hard work,and the American dream. Non us enjoy paying for other people’s food stamps, subsidized housing,cell phones, child care,utilities, health care, and the list goes on and on. Want a free four year collage education – dedicate 4 years of your life to serving your country like my son has by becoming a USM. He can achieve his education and the American dream because he learned that it does not come overnight and without sacrifice. Anyone who doesn’t embrace these values should consider moving to Europe where they will take care of you.
Totally agree‼️‼️ good job. Yup hard work gets it done.
Wow! Way to twist things to be politically motivated rather than just admit that the problem is the strong dollar versus the Euro. Tourism from Asia is up .6% over 2016. What’s down significantly is Europe, which is a direct result of the Euro and Pound dropping and the US Dollar going up. It was the exact opposite 8-10 years ago when the US saw a giant uptick in travel because of an unusually weak dollar and a strong Euro (along with a strengthening economy in China and Brazil.) Now we have a slowdown in China, a major slowdown in Brazil, a weakening in the UK and the US dollar being expensive. What Mr Sorenson failed to mention is that there’s a major uptick in Canadian travelers because their weakened Canadian dollar precludes many of them from traveling far abroad AND that within Europe, there is a huge trend of cheaper, local vacations being taken versus going anywhere far. The trouble in Greece, Spain, Portugal and Italy and the uncertainty of EU with Brexit and many elections have refocused people back on the local hotspots like the Canary Islands, North Africa and Eastern Europe.
Most travelers are smart enough to separate the thoughts of a President or a Prime Minister from the reality of the country.
Also, all of the execs from Starwood are fleeing the new company. Does Sorensen blame that on Trump too? Maybe Marriott isn’t doing well because Marriott isn’t doing well. Its loyalty program isn’t great. Their properties are in disarray with too many various brands for Marriott to actually be a brand. It used to be that when you stayed at a Marriott it was something to look forward to. It was almost luxurious. Nowadays, it’d often prefer to stay at a lower level brand because the rooms are just as good and you get free things like breakfast and other services and all of that at a lower price. Don’t blame others for your mistakes, Mr Sorensen. It isn’t becoming a CEO.