作者：Michelle Toh 2020-05-15 14:07
Marriott's profits were slammed in the first quarter of this year, plunging about 92%.
The world's biggest hotel chain on Monday reported net income of just $31 million from January to March compared to $375 million in the same period last year.
Revenue per available room, an important industry metric that assesses a hotel's ability to fill its rooms, fell 22.5% throughout the quarter and as much as 90% in April "as the pandemic moved around the world," the company said.
About a quarter of Marriott's hotels worldwide are currently closed, mostly in Europe and the United States.
But there was a "glimmer of good news," said Marriott International CEO Arne Sorenson.
He told investors in a call that demand appears to be picking up, especially in Greater China, where bookings are coming in mostly from domestic travelers.
Occupancy levels there have reached "just over 30%, up from the lows of under 10% in mid-February," Sorenson said.
"In terms of hotel closings/openings, April seems to have defined the bottom," the CEO added.
"Most days, we're seeing one or two or three more hotels reopen than we are seeing hotels closed.