Marriott International Inc. CEO Arne Sorenson continued to make the case for the company’s new home-sharing product to an at-times skeptical group of analysts during Bethesda hotelier’s first-quarter 2019 earnings call.
The company announced it was launching Homes & Villas by Marriott International April 29, after a yearlong pilot in several European cities that proved successful, according to Global Chief Commercial Officer Stephanie Linnartz.
After briefly addressing his recent cancer diagnosis and heralding the opening of Marriott’s 7,000th hotel, Sorenson outlined more details about what the pilot showed during Friday’s call. Nearly 90% of the guests of the home-sharing program were Marriott and Starwood rewards members — now one program called Marriott Bonvoy. That suggested home-sharing was a product that Marriott’s most-valued customers were actually looking for from the company.
In addition, those guests stayed three times as long in the home properties than the…Read the full story from the Washington Business Journal.