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Marriott names Anthony Capuano as new CEO

Feb. 23, 2021
4 min read
Marriott names Anthony Capuano as new CEO
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The world's largest hotel company, with more than 7,600 properties and more than 1.4 million rooms, has named its new CEO. On Tuesday, Marriott announced that it's appointed Anthony "Tony" Capuano as CEO, effective immediately.

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Capuano becomes only the fourth CEO in the company's history. He was named as a replacement for Arne Sorenson who died Feb. 15, 2021, after a battle with cancer.

Marriott's Anthony Capuano. (Photo courtesy Marriott)

Tony Capuano had been group president of global development, design and operations services overseeing the company’s U.S. and Canada lodging division and finance.

Executive Chairman and Chairman of the Board of Marriott International J.W. "Bill" Marriott, Jr., said of Capuano's appointment:

“Tony has played a critical role in Marriott’s growth over the last decade. He will be a terrific leader as we continue to advance our growth strategy while also navigating the market dynamics of the COVID-19 pandemic. He works thoughtfully and pragmatically with our owner and franchisee community and has been steadfast in ensuring Marriott delivers operational excellence and elevated customer experiences at our properties. Tony has a deep appreciation for Marriott’s thousands of associates who ultimately deliver on our customer and brand promise and I know he will be a superb steward of our culture. Together with Stephanie in the role of President, and the rest of our exceptional leadership team, Marriott could not be in better hands."

According to the company, "Mr. Capuano began his career at Marriott in 1995 as part of the Market Planning and Feasibility team. Between 1997 and 2005, he led Marriott’s full service development efforts in the Western United States and Canada. In 2008, his responsibilities expanded to include North America, the Caribbean and Latin America. In 2009, he assumed global development responsibility."

Also on Tuesday, Marriott announced that Stephanie Linnartz, previously the group president, consumer operations, technology and emerging businesses has been appointed as president, effective immediately.

Marriott reported Q4 earnings of 12 cents a share on Feb. 18, beating analysts' expectations and giving a glimpse of a possible rebound in 2021 after several tough quarters for the company. Still, the hospitality company profits fell 60% from the same quarter last year. The company had a net loss for both the last quarter and the full year.

"I am honored to be appointed to take the helm of Marriott, but it is a bittersweet moment," Capuano said in a statement. "Arne was a mentor, a champion and a friend to each member of his close-knit leadership team. It is because of Arne’s efforts that we are prepared to move forward with this transition. Together, we will advance the strategy we have in place, which is laser-focused on recovery, expansion, providing opportunities for our associates, maintaining constructive relationships with our owners and franchisees, delivering safe and innovative experiences for our guests and customers, and building value for our shareholders."

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In her new role, Linnartz will be responsible for developing and executing the brand's global consumer strategy.

Linnartz said, "Looking ahead to the rest of 2021, booking windows remain very short and there is still a large amount of uncertainty. While vaccines are slowly rolling out, the pace is too uncertain to be able to predict when occupancy will move meaningfully higher. But as the year progresses, assuming wider distribution of effective vaccines, we are optimistic that the pace of recovery will pick up speed and accelerate throughout the year."

Arne Sorenson was diagnosed with stage 2 pancreatic cancer in 2019.

Related: Remembering Arne Sorenson

Sorenson had been the CEO of Marriott since 2012 and was the only person outside of the Marriott family to lead the company until now. He oversaw the acquisition and merger of Starwood to create the combined Marriott, the world’s largest hotel chain.

As the new CEO, Capuano will help finalize the Starwood integration, oversee growth in the all-inclusive and home rental divisions, win over a new generation of travelers who don't love big chain hotels, and win back the trust of road warriors who remain unsold on the Bonvoy loyalty program.

This is breaking news story, and will be updated.

Additional reporting by Scott Mayerowitz and Emily McNutt.

Featured image by The Washington Post via Getty Im
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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5XGet 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com
1.5XEarn 1.5X points on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year
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    The Points Guy Exclusive Offer: Earn 150,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card® within the first 3 months of Card Membership.

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  • Annual Fee

    $695
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    670-850
    Good, Excellent

Why We Chose It

It's hard to find a card that competes with the mile-long list of benefits that come with the Amex Business Platinum. While it's certainly not the card for the average consumer, a business owner with tons of expenses -- especially related to travel -- will find this card incredibly valuable. This card is similar to the consumer version that Amex offers, but with more business-oriented perks around statement credits and earning rates that are a better fit for business owners.

Pros

  • An up to $100 credit for Global Entry or TSA PreCheck application fee every four to five years
  • Up to $400 annual credit for eligible U.S. Dell purchases (enrollment required)
  • Gold status at Marriott and Hilton hotels (enrollment required)
  • Access to the Fine Hotels & Resorts program and Hotel Collection
  • Extended warranty protection
  • International Airline Program and Cruise Privileges Program

Cons

  • Steep annual fee
  • Difficulty meeting $15,000 welcome offer for smaller businesses
  • Limited high-bonus categories outside of travel
  • The Points Guy Exclusive Offer: Earn 150,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Platinum Card® within the first 3 months of Card Membership.
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com, and 1X points for each dollar you spend on eligible purchases.
  • Earn 1.5X points (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year.
  • Unlock over $1,000 in annual statement credits on a curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.
  • $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year for checked baggage fees, lounge day passes, and more at one selected airline.
  • $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership. CLEAR® is available at more than 50 U.S. airports and stadiums.
  • The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,400 airport lounges across 140 countries and counting, you have more lounge location options than any other credit card on the market as of 9/2021.
  • $695 Annual Fee.
  • Terms Apply.