Marriott CEO: Leisure travel will lead hotel industry recovery

Wednesday, 24. February 2021 18:44

Marriott CEO Tony Capuano said on Wednesday he believes that, once the most population is vaccinated, the hospitality industry would bounce back.

"As the vaccine gets widely distributed, we see pretty strong and steady prospects for demand growth," Capuano told CNBC adding that approximately 60% of bookings in 2019 were from business travelers and that there is a fear that this branch will not recover that fast since most of the companies switched to remote working. However, leisure travel will most probably lead the recovery, he said.

He added there have been some improvements in global markets such as China as the country contained the virus fast and started vaccinating its citizens early.

Related Links: Marriott International Inc.
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