Arne Sorenson, CEO, Marriott International speaking at the World Economic Forum in Davos, Switzerland, January 21, 2020.
Adam Galica | CNBC
Arne Sorenson, who turned Marriott International into the world’s largest hotel chain after acquiring Starwood Hotels & Resorts in a $13 billion deal in 2016, has died. He was 62 and had been undergoing treatment for pancreatic cancer, the company announced Tuesday.
Sorenson, the third CEO in Marriott’s history and the first outside the founding family, died Monday, the company said.
Sorenson expanded Marriott’s presence worldwide under dozens of brands, including W Hotels, Ritz-Carlton, Courtyard and Sheraton.
In the past year, he had to lead the business through the Covid pandemic, which has brought most global and domestic travel to a standstill.
The hotel operator had announced in May 2019 that Sorenson had been diagnosed with pancreatic cancer. Earlier this month, it shared the news that the CEO would be temporarily cutting back his work schedule to accommodate more demanding treatment.
Earlier this year, Marriott tapped two executives – Stephanie Linnartz, group president of consumer operations, technology and emerging businesses; and Tony Capuano, group president of global development, design and operations services – to oversee day-to-day operations, filling in for Sorenson.
The company said Tuesday that Linnartz and Capuano will continue to do so until the board appoints a new CEO, which is expected to be within two weeks.
Marriott shares were up less than 1% in premarket trading Tuesday, having fallen about 12% over the past 12 months. The hotel operator has a market cap of nearly $42 billion.
