Name: Marriott CEO: Why AI Agents Threaten Online Travel Agencies, Not Hotels
Uploaded: 2026-06-24T14:05:00Z
Duration: 3 min 10 s
Description: Marriott International chief executive Anthony Capuano explains why the emergence of artificial-intelligence booking agents poses a greater threat to online travel agencies than to major hotel brands.

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Marriott International chief executive Anthony Capuano explains why the emergence of artificial-intelligence booking agents poses a greater threat to online travel agencies than to major hotel brands. Photo: WSJ Leadership Institute

https://m.wsj.net/video/20260624/fc4cb88b-89f9-44ff-b154-8664954cf7c0/1/hls/manifest-hd-wifi.m3u8

Marriott International chief executive Anthony Capuano explains why the emergence of artificial-intelligence booking agents poses a greater threat to online travel agencies than to major hotel brands.

Marriott CEO: Why AI Agents Threaten Online Travel Agencies, Not Hotels

Is there any possibility that AI agents could change that? In a world where agents are talking to agents and, you know, you're just saying, "Go book me a vacation to Cannes."

Yeah.

Is there a new disinterme, I'll get this word right, disintermediation risk?

So maybe I'll start with a macro response and then narrow it to your specific question. I am firmly of the view that AI is going to be profoundly impactful to every industry in very unique ways. For our industry, for our business, there are a few complexities. Number one, fundamentally, we are in the human connection business. So we've gotta figure out behind the door of the front desk, how do we use these tools to drive efficiency? In guest-facing positions, how do we use these emerging technologies to create capacity for our associates? All of you know this. Travel can be hard. We're often the last face you see. Your flight's been delayed or canceled. Your rental car wasn't ready. You left your iPad in the cab. You've had a long, miserable day. We're the last face you see.

It's hot.

It's hot. If, as a result of the implementation of these technologies, I can create an extra minute or two of capacity for that last face you see, so instead of staring at a screen, they're looking at you, they're engaging you, they're picking up on visual and verbal cues, and they're using that data to try to put a positive exclamation point on the end of what has otherwise been a tough travel day. Now, on your specific question, the reason we were never overrun by the traditional OTAs, we control the stay, right? And so that is a wide and deep moat that gives us a lot of confidence. Your question about agentic AI is fascinating and our teams are spending a lot of time on it. Of course, it's something we're focused on. We're engaging with many of the big AI players to make sure we're part of their thinking about how they're gonna enter the travel vertical. I probably would be more concerned as an OTA than I would be as a big brand company. And I'll tell you the reason I say that.

It's interesting.

The OTAs have done a fabulous job spending billions of marketing dollars to perpetuate a myth. That myth is the only way you get the best rate is to book through them. The reality is we have best rate guarantee. The best rate you'll ever get at a Marriott hotel is to book directly with us. But they've convinced, particularly less frequent travelers, that you've gotta go through them. Well, in this future world where you have an agent that knows you, knows your travel preferences, knows your status with all of the airlines, rental car companies, hotel companies, and knows your priority in certain cases is to get the absolute best rate, why then do I need to go to my friends at Expedia or my friends...

The agent can do it.