A Conversation with the CEO of Marriott International, Tony Capuano
Not Done with Sloan Dean
Tony Capuano, CEO of Marriott International, reflects on his path of nearly 31 years at Marriott and shares a clear-eyed view of today’s hotel landscape: near-term volatility in the US driven by low consumer confidence and macro uncertainty, but strong long-term fundamentals for travel, with Marriott staying focused on decisions that balance associates, guests, and especially owners still rebuilding asset value post-pandemic. He explains the current “bifurcated consumer” dynamic where luxury demand remains resilient while lower chain scales feel more pressure, and he outlines why Marriott’s global footprint and a more proactive conversions strategy are powering net unit growth even as new construction remains difficult.
On AI, Capuano frames the biggest opportunity as “capacity creation” that removes friction from manual work so frontline teams can deliver warmer human connection, while also enabling better trip planning and personalization across Marriott’s 260M+ Bonvoy members, emphasizing that consumers ultimately own their data. He highlights Marriott’s multi-year tech replatforming (reservations, property systems, loyalty) as a foundation for more intuitive tools, stronger merchandising, and new revenue streams, and he argues the future of travel planning will not be zero-sum because multiple players can win as travel grows. Closing on leadership, he credits Marriott’s core values as a “true north,” champions transparent communication modeled by Arne Sorenson, and advises aspiring leaders to be relentlessly curious, listen deeply, and stay humble, while pointing to brand adjacencies like the outdoor collection, Ritz-Carlton Yacht, and the Marriott Media Network as examples of how Marriott keeps pushing forward under the belief that “success is never final.”
