As the partial U.S. government shutdown entered its 32nd day, Marriott International is feeling the pain, according to Stephanie Linnartz, the company’s global chief commercial officer.
Marriott International, a global hotel chain which operates in 130 countries, said that it has been taking a hit from the ongoing shutdown. “[The shutdown] is impacting our business, and Washington, D.C., is just one example. We have 150 hotels and they’re seeing a decline in business, double digits, as a result of this,” Linnartz told Yahoo Finance at the World Economic Forum in Davos Switzerland. “Both sides need to get together and start talking.”
Linnartz also discussed how concerns over slowing global growth is affecting Marriott. “It really does depend on where you are in the world, different markets have different situations,” Linnartz said. “On the positive, there’s growing middle class around the world that wants to travel, millennials love travel. On the negative, we’ve got concerns around political uncertainty and stock market volatility.”
The Bethesda, Maryland-based company has been dealing with a huge data breach that affected hundreds of millions of customers earlier this month. Initially, the company reported that as many as 500 million people could have been affected, but has since revised that number down to about 320 million. Linnartz expressed deep regret for the incident, and said the company’s primary focus is transparency. “Our first order of priority was to make sure we were fully transparent by setting up call centers around the world to answer any of their questions...[We are] working very diligently to make sure our customers data is protected going forward,” Linnartz said.
For more of Yahoo Finance’s complete coverage of the World Economic Forum in Davos, Switzerland, click here.
Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.
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