To gain perspective on the current impact on hotels from the global COVID-19 pandemic, the biggest hotel group in the world, Marriott, is worth taking some notice of.
In a statement to the press Marriott Worldwide CEO Arne Sorenson said: “In terms of our business, COVID-19 is like nothing we’ve ever seen before, and for a company that’s 92 years old, that’s borne witness to the Great Depression, World War II, and many other economic and global crises, that’s saying something.”
In the same statement the leader of the world’s largest hotel company added: “I will not be taking any salary for the balance of 2020 and my executive team will be taking a 50% cut in pay.”
Big companies, like Marriott are taking big decisions now. Just like governments are, to put in place defences to combat the impact of COVID-19.
If you are in the hotel business, we highly recommend watching the video above. Marriott Worldwide CEO Arne Sorenson sets out precisely and eloquently how COVID-19 has impacted Marriott. Even more importantly he sets out how Marriott is dealing with the crisis.
