Arne Sorenson on strategic expansion
From #19 CEO of Marriott, Arne Sorenson: On the Future of Travel & How To Be A Great Leader · · 3 Takeaways™
“We entered it about a year and a half ago under the name Homes & Villas by Marriott International. It's really only in that vacation home space, the whole home space, which is different from a traditional hotel room. We started with 2,000 units. I think we'll end the year at 20,000 units, something like that. So it's a 10 times growth but it still makes us tiny by comparison to these other players. We do think it will be a part of our business going forward because our customers will want this.”
On , Arne Sorenson, Former President & Chief Executive Officer at Marriott International, spoke about strategic expansion during #19 CEO of Marriott, Arne Sorenson: On the Future of Travel & How To Be A Great Leader on 3 Takeaways™.
About Arne Sorenson
Arne Sorenson, then President and CEO of Marriott International, received the 2020 Humanitarian Lifetime Impact Award from the National Center for Children and Families (NCCF). In his acceptance remarks, Sorenson stated that the COVID-19 pandemic had been "a horrible event for all of humankind" and described its disproportionate impact on those living in poverty. He noted that the organization had remained open during the pandemic to provide essential support services, and he accepted the award on behalf of Marriott's associates, citing the company's legacy of community service. In early 2020, Sorenson discussed Marriott's business strategy and his personal health in interviews at the World Economic Forum in Davos. He described the company's focus on strengthening its loyalty program and expanding into adjacent spaces such as home-sharing and all-inclusive resorts. Regarding the then-emerging coronavirus, Sorenson said it was "still way too early to talk about" and that Chinese authorities needed to understand the situation. He also provided updates on his cancer treatment, stating that he had undergone surgery in November 2019 and felt "very optimistic." In earlier appearances, Sorenson addressed Marriott's data breach, the company's growth plans, and the importance of diversity and inclusion, stating that the company had set targets for workforce diversity and that inclusion should not leave people feeling excluded.