WEAK U.S. BOOKINGS HURT MARRIOTT PROFIT WHILE CHINA SHINES
Marriott reported lower-than-expected quarterly profit and revenue because of fewer bookings in its main U.S. market, but the business showed a sharp rebound in
China, which is emerging from the coronavirus pandemic at a faster pace. It is a long road to recovery for Marriott and its smaller rival Hilton, analysts have said, as the hotel operators rely heavily on business travel, which remains weak due to border curbs. Marriott, which gets about three quarters of its revenue from the United States and Canada, said its REVPAR, a key measure for a hotel’s top line performance, fell 46.3 per cent in the region.
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2021-05-11T07:00:00.0000000Z
2021-05-11T07:00:00.0000000Z
https://nationalpost.pressreader.com/article/282076279748743
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