Coronavirus hobbled Marriott’s 2020 momentum

Marriott International hotels bolted out of the gate this year, posting 4.6% RevPAR growth in January outside of China. But by April, the disastrous impact of COVID-19 put the brakes on any gains, slowing its pace by some 90% for the month, said President and CEO Arne Sorenson, speaking during the company’s first-quarter earnings call on Monday. First-quarter RevPAR declined 22.5% worldwide — down 19.5% in North America and 30.4% elsewhere. About a quarter of Marriott hotels worldwide remain closed, but Sorenson said signs of a rebound are slowly materializing. Hotels in hard-hit Greater China reached 25% occupancy in April,…
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