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UPDATE 1-Marriott posts quarterly loss as pandemic hurts bookings

05/10/2021 07:13
UPDATE 1-Marriott posts quarterly loss as pandemic hurts bookings

Adds industry background

- Marriott International Inc MAR.N posted a quarterly loss on Monday, as a pandemic-driven collapse in travel resulted in fewer bookings.

Analysts have said Marriott and rival Hilton HLT.N will take longer to recover even though the travel industry is expecting improved leisure bookings as the major hotel chains rely heavily on business travel, which remains weak.

Net loss attributable to stockholders was $11 million, or 3 cents per share, in the first quarter, compared with a profit of $31 million, or 9 cents per share, a year earlier.

Total revenue fell to $2.32 billion from $4.68 billion.




(Reporting by Shreyasee Raj in Bengaluru; Editing by Arun Koyyur)

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