On August 11, hotel management group Marriott (Marriott) stated that it expects to burn $85 million a month until the end of this year, instead of the original estimate of $145 million. Group Chief Executive Arne Sorenson pointed out that its businesses that have been hit hard by the new crown pneumonia epidemic have increased their room occupancy rates and burned more moderately than expected as countries restart their economies.
Marriott disclosed that as of August 1, the global average room occupancy rate in the past week was 34%, much higher than the 11% in April. The Greater China market is the region with the fastest rebound in business, and it is expected to rebound to 2019 early next year. Level. The Group believes that it may take several years for the overall occupancy rate to return to its pre-epidemic level.
In addition, Marriott announced that as of the second quarter ended June, an adjusted loss per share of 64 US cents was higher than analysts’ expectations of 42 US cents; total revenue fell 72.4% to US$1.46 billion.
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