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What do you do when your business disappears overnight? That’s what happened to Hyatt CEO Mark Hoplamazian in April, when the pandemic cut the hotel company’s global business by 94%. “A shocking loss of demand,” he said. “We had never been in anything quite like it.”
Hoplamazian was my guest this week on the podcast Leadership Next (Apple/Spotify). I was eager to talk with him because he’s always struck me as a leader with a strong focus on Hyatt’s corporate purpose, which is rooted in empathy—caring for employees so in turn they care for hotel guests. How do you care for employees when you no longer have the means to do so?
“There is no question that this has been the most difficult and most challenging period of time I’ve ever experienced, as a person,” he said. “The business was unrecognizable. The steps we had to take to manage through it were very painful. There was a very human impact that was devastating.”
Yet Hoplamazian said he has “been so incredibly humbled by the outpouring of appreciation and …