Marriott International CEO Tony Capuano told CNBC on Monday the distinction between business and leisure travel is fading, a welcome development for the hotel operator as it recovers from the coronavirus pandemic.
People going on vacations and other personal trips has led the hospitality industry’s rebound from the Covid-induced damage that hit more than a year ago. The return of trips for corporate purposes is crucial for a complete comeback, though, and there have been questions about how long it will take for that to return to pre-pandemic levels — if ever.
“We do think you’ll see a steady return of business,” Capuano said in an interview on “Squawk on the Street,” noting that, in mainland China, business-travel demand in March was 5% above where it was in March 2019. China’s economic recovery timeline is generally thought to be several months ahead of the U.S.
However, Capuano said Marriott could benefit from a broader shift in…