Arne Sorenson, who grew to turn into Marriott World into the sphere’s supreme resort chain after acquiring Starwood Hotels & Hotels in a $13 billion deal in 2016, has died. He became once 62 and had been present process therapy for pancreatic cancer, the corporate presented Tuesday.
Sorenson, the third CEO in Marriott’s history and the first open air the founding family, died Monday, the corporate talked about.
Sorenson expanded Marriott’s presence worldwide under dozens of manufacturers, including W Hotels, Ritz-Carlton, Courtyard and Sheraton.
In the past 300 and sixty five days, he had to lead the industry thru the Covid pandemic, which has introduced most world and domestic toddle back and forth to a standstill.
“Arne became once an noteworthy executive – however better than that – he became once an noteworthy human being,” talked about J.W. Marriott Jr., executive chairman and chairman of the board. “Arne loved every ingredient of this industry and relished time spent touring our resorts and assembly mates spherical the sphere. He had an uncanny skill to are expecting where the hospitality industry became once headed and state Marriott for enhance. But the roles he relished potentially the most had been as husband, father, brother and buddy. On behalf of the Board and Marriott’s hundreds and hundreds of fellow workers spherical the sphere, we lengthen our heartfelt condolences to Arne’s wife and 4 children. We share your heartbreak, and we can omit Arne deeply.”
The resort operator had presented in Would possibly possibly 2019 that Sorenson had been diagnosed with pancreatic cancer. Earlier this month, it shared the news that the CEO would be temporarily slicing wait on his work agenda to accommodate extra anxious therapy.
Earlier this 300 and sixty five days, Marriott tapped two executives – Stephanie Linnartz, community president of consumer operations, technology and emerging companies; and Tony Capuano, community president of world constructing, produce and operations products and services – to oversee day-to-day operations, filling in for Sorenson.
The corporate talked about Tuesday that Linnartz and Capuano will continue to attain so till the board appoints a fresh CEO, which is predicted to be within two weeks.
Marriott shares had been up less than 1% in premarket procuring and selling Tuesday, having fallen about 12% all thru the final 12 months. The resort operator has a market cap of nearly $42 billion.