“I am worried we are cutting so deeply”: Marriott CEO

first_imgMarriott CEO Arnie Sorenson (Photo by Drew Angerer/Getty Images)Marriott moved quickly earlier this week to furlough tens of thousands of workers as the coronavirus pandemic cripples the hotel industry. Now, the company’s chief executive is concerned the move may hurt the hotel chain when the time comes to ramp back up.“I am worried we are cutting so deeply that the rebuilding process will be more challenging than we anticipated and maybe, to some extent, that we might regret having moved as aggressively as we’ve moved,” CEO Arne Sorenson said on a conference call Thursday morning with analysts and investors.Marriott, which is the world’s largest hotel company with some 1.4 million rooms across the globe, started shutting down hotels last week. Sorenson said the company has hundreds of hotels that are either closing or in talks to close.The move came as occupancy and room rates across the country and around the world crate because of the spreading virus and mounting government restrictions on travel and activity.Marriott is putting in place cost-cutting measures, such as suspending brand-standard audits in order to reduce expenses for property owners and delaying some renovations.Executives from Marriott and other hotel companies are in talks with lawmakers in Washington, D.C. seeking to secure a $150 billion bailout for the industry.Contact Rich Bockmann at [email protected] or 908-415-5229. This content is for subscribers only.Subscribe Nowlast_img read more

Josh Taylor vows to punch his way to world title shot

first_imgThe Scot is returning to a venue where he has already enjoyed considerable success, winning a Commonwealth gold four years ago and beating Mexican Humberto Soto back in March.He said of the Hydro: “I love it. Glasgow has been amazing to me ever since the Commonwealth Games.“Every time I’ve been in Glasgow I’ve had great success and a great welcome.“Even though I just stay along the road in Edinburgh they always make me feel at home here “It’s a great arena and I’m looking to continue my run of success there.” “I think I can but we’ll wait and see, you never know how it can play out.”If necessary, however, Taylor insisted he was prepared to go the distance.He said: “I’ve prepared diligently in the gym for this fight. I’ve sparred hundreds and hundreds of rounds.“If it goes 12, I’m more than confident that I’m fit enough. Josh Taylor believes he can knock out Viktor Postol on Saturday.‘The Tartan Tornado’ is one of the brightest prospects in British boxing and the Scotsman can make the final step towards a dream world title shot with victory over highly ranked Ukrainian fighter Postol at the Hydro in Glasgow.Taylor said he was confident of not only winning the title eliminator but doing so by inflicting a knockout blow within the 12 rounds.The 27-year-old from Prestonpans, East Lothian said: “I’ve got it in me to knock him out. I feel very confident in the way I’m performing at the minute.last_img read more