Marriott plans major cost cuts amid competitive pressures

The discussion also touched on possible modifications to mandatory brand standards. Previously, Marriott hinted that items like alarm clocks might be outdated due to widespread smartphone use among guests.

This initiative comes as competitors face similar challenges. Hyatt recently lost hotels due to costly brand standards, while Hilton's Spark brand is gaining traction with more affordable conversion requirements for hotel owners.

In addition to cost-cutting measures, Marriott plans to introduce the City Express brand from Mexico into the U.S., indicating a strategic move into the midscale market segment. Capuano noted progress in this area and expressed intentions to enhance Marriott's presence in this growing market sector.

Furthermore, Marriott Bonvoy continues to expand its membership base and partnerships. With 219 million members globally, it surpasses Hilton Honors' 200 million members. The loyalty program offers various experiences and award night redemptions. Recent promotions include bidding points for Taylor Swift concert tickets and earning points through a partnership with Starbucks.

Capuano highlighted these initiatives by stating, "Marriott Bonvoy has never been stronger," signaling ongoing efforts to expand globally through creative tie-ins and partnerships.