Numerical

Marriott International

$234 million

Bigger than expected second quarter loss reported by Marriott International as a result of the covid-19 pandemic. Net income in the same period a year ago was $232 million. The hotel chain said revenue per available room, or RevPAR, was down by 84% year-on-year. Marriott’s boss pointed to signs of demand returning; occupancy rates have improved each week since mid-April. But “the full recovery...will clearly take time”.

Last Modified: 11-Aug-2020 7:59 AM

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Posted by Numerical Team in Business & Industry

Tags Hospitality Industry COVID-19 Impact Marriott International

Source The Economist Espresso