By James Wilkinson in New York
Marriott International’s President and Chief Executive Officer, Arne M. Sorenson, says 30 brands might not be enough and the company could launch more in the future.
Speaking at the 39th annual NYU International Hospitality Industry Investment Conference in New York yesterday (June 5 local time), Sorenson said it was all about choice for the customer.
“There will absolutely be space for more [brands],” he said. “More choice is better to create a powerful loyalty program.
“That was a motivating feature in many respects of the deal itself [to acquire Starwood].”
Sorenson said as early as a decade ago he was asked if the company had enough brands and he said “yes”.
“Alongside the Starwood deal we added five brands in the last few years and we are now at the remarkable number of 30 [brands], but we’re only seven per cent of the global lodging industry,” he said.
“And as long as [our] brands can be strong and distinct, there is no reason to think we might not add some more.
“But, at the moment we have our hands full,” Sorenson said.
Sorenson was the keynote Q&A session at this year’s NYU International Hospitality Industry Investment Conference, where he was interviewed by ABC News America’s Chief Business, Economics and Technology Correspondent, Rebecca Ann Jarvis.
In the interview he also spoke about market expectations, SPG Elite members’ feedback on Marriott Rewards, employees and much more.
To listen to the compelling 30-minute Q&A, click on the YouTube image at the top of the page.