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REUTERS: Marriott International CEO Arne Sorenson, who was undergoing treatment for pancreatic cancer, has died, the company said Tuesday.
The first family member to head the hotel chain, Sorenson, 62, had left his full-time position earlier this month to treat cancer that was diagnosed in 2019.
Marriott said he died Monday and will name a new chief executive officer in the next two weeks.
Sorenson took over in March 2012 and led the $ 13 billion acquisition of Starwood Hotels and Resorts in 2016, resulting in Marriott becoming the world’s largest hotel chain with over 1 million rooms. .
“He had an uncanny ability to anticipate where the hospitality industry was headed and position Marriott for growth,” Chief Executive JW Marriott, Jr. said in a statement.
During Sorenson’s tenure, the company’s shares rose 242 percent, despite a 15 percent drop over the past year due to the coronavirus crisis that nearly paralyzed travel.
In his absence, Stephanie Linnartz, group president, consumer operations, oversees the company’s lodging division, while Tony Capuano, group president for global development, is in charge of the lodging business for the United States and Canada.
“Given the leadership of the Marriott family and Arne, Marriott’s executive bank is arguably the strongest in the industry and will have the knowledge and leadership to follow Marriott’s path,” said Macquarie Research analyst Chad Beynon.
(Reporting by Ankit Ajmera and Rachit Vats in Bengaluru; Editing by Arun Koyyur)
