Tony Capuano, CEO of Marriott International, reflects on his path of nearly 31 years at Marriott and shares a clear-eyed view of today’s hotel landscape: near-term volatility in the US driven by low consumer confidence and macro uncertainty, but strong long-term fundamentals for travel, with Marriott staying focused on decisions that balance associates, guests, and especially owners still rebuilding asset value post-pandemic. He explains the current “bifurcated consumer” dynamic where luxury demand remains resilient while lower chain scales feel more pressure, and he outlines why Marriott’s global footprint and a more proactive conversions strategy are powering net unit growth even as new construction remains difficult.
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