Marriott CEO says business is strong despite layoffs and China revenue drop, citing future growth.

Marriott International CEO Anthony Capuano asserts the company's business remains strong despite laying off over 800 corporate employees and an 8% drop in revenue per available room in China, its second-largest market. Capuano sees China's domestic demand issues as temporary, noting record hotel signings and strong group travel driving a 6% increase in net room growth and a 2.5% rise in room rates. The layoffs aim to shift decision-making to local markets, saving $80 to $90 million annually, without impacting hotel service levels.

November 21, 2024
4 Articles

Further Reading