On land and sea, the travel industry is hurting but holding out hope for a recovery
On land and sea, the travel industry is hurting but holding out hope for a recovery.
Marriott said Monday it has reopened most of its hotels around the world, helped by a rebound in business travel in China. The average occupancy at its hotels is also improving, although still at depressed levels.
The hotel giant’s CEO voiced optimism that the worst damage from the pandemic is over. The harm in the second quarter was clear: Marriott lost $234 million as its revenue plunged 72%.
In another corner of the travel industry, Royal Caribbean posted a $1.64 billion loss as cruise ships remained anchored in port.
Both results were worse than Wall Street expected.
Investors, however, appeared to focus on upbeat comments by executives: Shares in Bethesda, Maryland-based…
Source news reuters.com, click here to read the full news.
