Marriott shares near-term outlook, long-term optimism

The company predicts global RevPAR for full-year 2024 to be up in year-on-year terms by 14% and internationally by 31% or 32%

During an interview on stage at Alvarez & Marsal’s European Hospitality Investment Conference in London, Marriott President and CEO Anthony Capuano said he is “enormously optimistic” about the future of Marriott and the hotel industry in general, though he admitted there certainly are near-term obstacles ahead.

Key takeaways

• Capuano said the common prediction was that the pandemic years inevitably would have created a storm cloud, “and that is coming now,” referring to excessive costs, a lack of deals, the loss of labor and traditional bank lending;
• Hotel demand has shifted, perhaps permanently, as traditional shoulder nights Thursday and Sunday are filling up just like the weekends. Capuano said hoteliers will have to determine if the rate pricing model needs changed for good;
• As for what excites him on the horizon, Capuano said he's intrigued by how the hotel industry could benefit from artificial intelligence tools.

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