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Stockreport

UPDATE 2-Marriott sees China bookings improving even as March room revenue plunges [Reuters]

Marriott International - Class A (MAR)  More Company Research Source: Reuters
Last marriott international - class a earnings: 2/26 04:30 pm Check Earnings Report
US:NYSE Investor Relations: investor.shareholder.com/mar
Marriott sees China bookings improving even as March room revenue plunges (Reuters) - Marriott International ( MAR.O ) said on Tuesday bookings in Greater China were improving steadily in April as authorities lifted some coronavirus-led travel curbs, even as it forecast a 60% decline in its March total revenue per available room. Shares of the company, which owns the Ritz-Carlton and St. Regis luxury hotel brands, rose as much as 6.7% to $83.30 in morning trading. Marriott said occupancy in Greater China rose to roughly 20% in the first week of April, underpinned by a recovery in leisure demand, as restrictions on movement and quarantine measures ease. The hotel industry has been hurt by a jump in booking cancellations due to coronavirus-driven lockdowns, forcing Marriott and smaller rivals Hilton Worldwide ( HLT.N ) and Hyatt Hotels ( H.N ) to abandon their outlooks. But with the world’s second-largest economy slowly reopening for business, the number of closed Marriott hotels [Read more]
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