Categorized | Etcetera

Bill Marriott speaks…

Posted on 28 November 2009

Marriott International CEO Bill Marriott says the hospitality industry is just beginning to see tentative signs of an economic recovery. Marriott told The Economic Club in Washington he was starting to see early indications of growth, but that the hotel and travel industry is still recovering from a backlash against corporate travel fueled by politics and public anger over the financial meltdown. “When (Pres.) Obama got up and told the TARP recipients don’t go to Las Vegas, don’t fly on a corporate jet-that just threw a blanket of despair and dark clouds over the industry,” Marriott said, referring to the Troubled Asset Relief Program. “They killed a lot of jobs in this industry.” 


Administration proposals to pass a climate change bill and overhaul the country’s health-care system also pose potential threats for the industry, he said. Marriott did express support for the bill that would promote the U.S. as a travel destination to international visitors. The country has not seen an increase in foreign visitors since 2000, he said.

Source: Dow Jones

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