and had been
Arne Sorenson, who made Marriott International the world’s largest hotel chain after acquiring Starwood Hotels & Resorts for $ 13 billion in 2016, has passed away. He was 62 years old and was being treated for pancreatic cancer, the company said Tuesday.
Sorenson, the third CEO in Marriott history and the first outside of the founding family, passed away on Monday.
Sorenson expanded Marriott’s global presence to dozens of brands including W Hotels, Ritz-Carlton, Courtyard and Sheraton.
Last year, he had to run the business through the Covid pandemic that brought most global and domestic travel to a standstill.
The hotel operator announced in May 2019 that Sorenson had been diagnosed with cancer. Earlier this month it was announced that the CEO would temporarily cut his work schedule to accommodate more demanding treatment.
Earlier this year, Marriott added two executives – Stephanie Linnartz, Group President, Consumer Operations, Technology, and Emerging Business; and Tony Capuano, group president for global development, design and operations services to oversee day-to-day operations and represent Sorenson.
The company announced Tuesday that Linnartz and Capuano will continue to do so until the board appoints a new CEO, which is expected to happen within two weeks.
Marriott stock rose less than 1% on the Tuesday before trading, after falling about 12% in the past 12 months. The hotel operator has a market capitalization of nearly $ 42 billion.