Marriott CEO Arne Sorensen Says Most of the World Has Seen the Bottom
Photo Credit: Revenue per room tanked 90 percent globally in April for Marriott, but the world's largest hotel company sees positive signs in China and North America. Wikimedia / OCLS Central Michigan University
Skift Take
Marriott sees early signs of travel demand coming back to properties in China and North America. But its plans to mount an aggressive marketing campaign to take as much of the early recovery market share as possible recognizes it will be tough competition on the rebound.
Economies around the world are on life support, but Marriott executives see initial signs the worst from coronavirus may be in the rearview mirror.
A quarter of Marriott’s hotels around the world are temporarily closed due to depleted occupancy and limited revenue per room in the coronavirus era not justifying continued operations. The hotel giant’s worldwide revenue per room was down 90 percent in April. But the recovery already underway in China is expected to continue in other parts of the world, most likely arriving in Europe last.
“China does appear to be recovering and holding. I know there is lots of debate on if there’s a resurgence of the virus in China,” Marriott President and CEO Arne Sorenson said Monday on a first quarter earnings call. “By and large, what we hear there is reassuring.”
Get the Latest on Coronavirus and the Travel Industry on Skift's Liveblog
Coronavirus first impacted Marriott’s China portfolio in
