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Accelerated Vaccine Timeline Will 'Inspire Confidence' In Travel Says Marriott CEO

Accelerated Vaccine Timeline Will 'Inspire Confidence' In Travel Says Marriott CEO

The White House expects all adults who want a vaccine against the coronavirus will be able to get one by the end of May and this will "inspire confidence" in travel, Marriott International Inc (NASDAQ: MAR) CEO Tony Capuano said on Fox Business.

What Happened: U.S. President Joe Biden confirmed the accelerated vaccine timeline on Tuesday at a time when COVID-19 cases are already on the decline and these are "great bits of news," Capuano said. The hotel chain continues to take action today to ensure it is ready for an eventual surge in travel.

Most notably, the company "significantly" modified its cleaning practices and protocol so it can live up to much higher expectations, the CEO said.

Related Link: Pfizer-BioNTech Vaccine 94% Effective In Real World: Study

Why It's Important: Capuano's comments come at a time when Texas Gov. Greg Abbott said all businesses can operate with no capacity restraints. Mississippi isn't far behind with a 50% restriction applied just to indoor businesses.

The hotel chain will continue mandating its workers wear masks indoors and practice social distancing protocols, he said.

Meanwhile, other sectors of the travel and tourism industry are taking action signaling a bullish outlook ahead, especially the purchase order of 25 new Boeing Co (NYSE: BA) jets by United Airlines Holdings Inc (NASDAQ: UAL).

"I certainly share the long-term optimism about the return in demand for travel, really across all the segments," the CEO said. "We have seen remarkably strong and steady growth in leisure transient demand."

But what will ultimately push customers to finalize travel plans is the continued rollout of the vaccine drive, he said.

What's Next: Regardless of local restrictions or lack thereof, the safety of Marriott's employees and guests will remain the "singular focus."

(Photo: Marriott)


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