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The return of travel and hospitality – Walker Webcast replay with Marriott’s Stephanie Linnartz

The return of travel and hospitality – Walker Webcast replay with Marriott’s Stephanie Linnartz

January 15, 2021 9:11 pm

Wednesday, January 13, 2021, Stephanie Linnartz, Marriott’s Group President of Consumer Operations joined the Walker Webcast to discuss the current state of the hospitality industry. This was an excellent webcast with great information and insights regarding the industry and the effects of the pandemic. Here is a link to the replay:  

The return of travel and hospitality – Walker Webcast replay with Marriott’s Stephanie Linnartz

Or, if you prefer, a quick summary of some of the topics discussed:

  • The importance of EQ (Emotional Quotient) for management and leadership roles within a company and, more specifically, empathy during BOTH good and bad times. That the willingness to listen to your employees and take care of them is essential because these are the people taking care of the guests.
  • Stephanie Linnartz also sits on the board of Home Depot and has an inside perspective on the challenges faced by both a company hit hard by the pandemic (Marriott) and a company that saw tremendous gains during the pandemic (Home Depot). 
  • The benefit to having many different brands. When Marriott bought Starwood in 2016, they became the largest hotel chain in the world, with 30 brands in 131 countries/ territories around the world.  According to Linnartz, having a variety of choices is the strength behind the Marriott Bonvoy loyalty program. 
  • They discussed how this pandemic really was their greatest challenges yet, sighting the following statistics:  
    • 9/11 – RevPAR was down 15%, 
    • Economic crash in 2008 – RevPAR was down 25%, 
    • COVID Pandemic (April 2020) – RevPAR was down 85%, with some months of single digit occupancy and 25% of hotels completely shut down
  • However slowly, things are coming back. Marriott now has 95% of their hotel open worldwide and 98% of hotels open in North America. The comeback has plateaued since virus numbers have increased during the winter months, but things are still improving.
  • China has led the recovery since the pandemic. In fact, some areas of China have recorded leisure travel up above 2019 numbers. 
  • Marriott, along with other industry experts, doesn’t expect to see US occupancy return to the 2019 level of 66.3% until 2023. However, customer surveys show tremendous pent-up demand. Local / regional leisure travel will return first, and big group meetings will be the last to return (but that won’t happen this year). 
  • They discussed the importance of Arne Sorenson’s video message and how it was an excellent example of how to effectively communicate crisis management (with honesty and transparency) and most importantly convey a message of hope. 
  • Linnartz described Marriott’s corporate salary pay cuts of 50% during the pandemic as “completely appropriate”. The way the company responded to the challenges of the pandemic allowed the company’s culture to shine. She shared the example of turning a Marriott call center into a call center supporting unemployment claims, effectively saving 700 jobs and assisting in the pandemic relief. 
  • World Travel and Tourism Council states that globally there were 121 million jobs lost and according to other sources, North America saw roughly 14 million jobs lost. Linnartz points out that the travel and tourism industry has a high participation of women, minorities and youth. 83 % of businesses in the travel industry are small business, 60% are owned by women. She emphasizes the importance of seeing who has been most impacted by the pandemic because there is potentially years of economic progress lost and governments need to recognize the role the travel and tourism industry plays in growth and how it functions as a mechanism in enhancing quality of life and reducing poverty.
  • 2020 presented a chance to do things differently. Linnartz says that Marriott will not sacrifice their standards. The customers will still get a warm welcome and they will be careful not to increase cost pressure on the franchisees. They do see technology playing more of a role in places like mobile check-ins and in creating a more personalized guest experience.  Being a large company allows them to invest in technology and innovation. 

For more information, please call or email Brian Resendez, CCIM at 503-577-7710 or [email protected]. 

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Brian and Michelle did an outstanding job selling Bonneville Hot Springs Resort for us. We had requested that our property sale be done in a completely confidential manner so it did not interrupt our daily flow of business. They created beautiful collateral that represented our property very well and kept it current and complete. They made themselves available to tour the property for all interested parties in a non-invasive manner so we could continue to do business without neither guests nor staff being aware of the property being for sale. We would recommend Brian Resendez as a superbly competent realtor to anyone interested in selling their commercial property.

M. S. - Seller

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After researching and interviewing several leading NW hospitality brokers, it was very clear to us that Brian Resendez was the best choice.  Marketing a partial interest in a unique hospitality property presented an unusually challenging situation for any veteran broker.  Brian’s experience, creativity, hard work, patience and personal care led to a successful outcome for all parties.  We highly recommend Brian Resendez and his capable team.

Jim and Wendy Inkster -

“

Brian Resendez was my personal broker for the sale of two motels that I sold. One sold in March of 2010 and one sold in March of 2011. In selling these motels he showed great skill and professionalism, which was needed, in order to sell these motels in a down market that exists today. Brian was very aggressive and knowledgeable in getting these motels sold in a timely manner.

Charles C. Hagel - Motel Owner

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I appreciate your service, continued support and marketing effort that you have made on the Redwood Hotel project in Grants Pass, OR. The brochure and marketing information that you have compiled for this property is excellent. I look forward to extending our business relationship.

Don Hayes - Hayes Brokerage, Inc.

“

We had a vision for our next adventure in hotel ownership and it needed the right person to guide us in acquiring a property that would make our dreams come true. Brian made that happen for us. Brian was a great listener and helped negotiate a sale that was a fit for our unique needs. Brian was responsive and kind – we felt like we were always his top priority!

 

Melanie Prummer, Peace at Home Executive Director - Buyer

“

It was a great pleasure and experience to work with Brian for our very first property purchase. At times negotiations with the sellers were challenging, but we always found Brian to be super-responsive, professional, and helpful. His office was prompt to communicate with sellers, follow-up with third parties, put together additional documentation, or dig up information. Anything that was needed to keep the ball rolling- Brian and Michelle were on it. 

We highly recommend their service, and it will be a pleasure for us to work with Brian and his team when we get our next opportunity.

A. A. - Buyer

“

Brian is an outstanding Broker. He is diligent in his service to his clients, and he takes his responsibilities seriously. His connections are very deep in the hospitality industry. Not only does he seem to know everyone, even better, everyone seems to know him. I have won direct business through having Brian introduce me to one of his connections. Now that person is a client our ours as well. Brian is the kind of Broker, and the kind of person, with whom I enjoy doing business.

Mike Grubbe - Business Development Manager at SD Deacon

“

Very difficult deal – estate (foreign beneficiary) and three buyers. Best way to describe it is:  “Maze”. But we made it. Brian was instrumental in bringing it together.

Roger Reif - Attorney

“

Our experience with Brian Resendez from SVN Hotels was excellent. Brian not only went the extra mile to make sure we got this deal done, he also gave us honest advice. The process from start to finish was one of the smoothest experiences we have had with an acquisition. I hope to have the opportunity work with Brian and his team on future deals. 

S. P. - Buyer

“

My experience with Brian Resendez was nothing short of professional. We had a challenging year long transaction and he completely kept me and the process on track and got us all to the finish line. Brian was always a wealth of information above and beyond what was expected.  Thank you Brian!

John Holt - Land Investor

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Beaverton, OR 97005

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