Marriott has reopened 91% of its hotels globally as business travel reemerges in China and worldwide occupancy, which tumbled to 11% in April, reached 34%
Marriott has reopened 91% of its hotels globally as business travel reemerges in China and worldwide occupancy, which tumbled to 11% in April, reached 34%.
The company reported quarterly profits on Monday that fell far short of expectations, however, and revenue plunged.
Shares dipped about 3% before the opening bell.
In China, where business travel and even some group events resumed, occupancy levels reached 60%, about 10% lower than the same period last year, Marriott said.
“The improvement we have seen in greater China exemplifies the resilience of travel demand once there is a view that the virus is under control and travel restrictions have eased,” CEO Arne Sorenson said in a prepared…
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