The world’s third largest hotel chain Marriott International has reopened all its hotels in China and is seeing a steady recovery in the United States.
In the United States, Marriott’s hotels that remained open crossed the 20% occupancy threshold and continue to see an improvement, Chief Executive Ofﬁcer Arne Sorenson said on Monday. “It’s not just leisure travel growing, but it is business travel,” he added. However, Sorenson warned that it could take Marriott a few years to get back to levels of occupancy seen in 2019. The ﬁnancial impact from the pandemic has been more severe for the hotel chain than 9/11 and the 2008 ﬁnancial crisis combined. The hotel group owns about 30 brands including Ritz-Carlton, St Regis and Sheraton. Occupancy below 50% isn’t enough to sustain hotels, was said. For today, investors are betting on a Marriott recovery.
The early days of recovery are still slated to include a different type of hotel stay for guests checking into any Marriottbranded property around the world. The chief executive of the world’s largest hotel company doesn’t expect coronavirus to forever upend the hotel industry. Hilton reopened all of its 255 hotels in China two weeks ago and introduced a CleanStay initiative to protect employees and guests.