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BRIEF-Marriott CEO Says RevPAR For April Declined Roughly 50% Compared To The Same Month In 2019-Conf Call

05/10/2021 09:29
BRIEF-Marriott CEO Says RevPAR For April Declined Roughly 50% Compared To The Same Month In 2019-Conf Call

- Marriott International Inc MAR.O:

  • MARRIOTT INTERNATIONAL INC CEO SAYS GLOBAL OCCUPANCY IN APRIL ROSE TO AROUND 48%

  • MARRIOTT CEO SAYS REVPAR FOR APRIL DECLINED ROUGHLY 50% COMPARED TO THE SAME MONTH IN 2019-CONF CALL

  • MARRIOTT CEO SAYS SPECIAL CORPORATE AND GROUP BOOKINGS IN THE U.S. AND CANADA REMAIN MEANINGFULLY BELOW PRE-PANDEMIC LEVELS BUT ARE SLOWLY RECOVERING

  • MARRIOTT CEO SAYS IN EUROPE 25% OF THE REGION'S HOTELS ARE CURRENTLY CLOSED AND THE RECOVERY HAS BEEN MUCH MORE MUTED

  • MARRIOTT CEO SAYS RATES FOR GROUP ROOM NIGHTS BOOKED IN Q1 FOR 2022 AND 2023 ARE CURRENTLY 6%,10%, RESPECTIVELY, ABOVE PREPANDEMIC LEVELS, DEMONSTRATING WE ARE NOT TRADING RATE FOR OCCUPANCY

  • MARRIOTT CEO SAYS OVER 95% OF OUR HOTELS ARE OPEN GLOBALLY, AND WE'VE SEEN OVERALL WORLDWIDE OCCUPANCY IMPROVE EVERY MONTH THIS YEAR

  • MARRIOTT CFO SAYS IN THE U.S. AND CANADA, RESERVATIONS AT OUR RESORT HOTELS ARE PARTICULARLY STRONG

  • MARRIOTT CFO SAYS BUSINESS DEMAND COULD REALLY ACCELERATE IN THE FALL AS MORE BUSINESSES REOPEN

  • MARRIOTT CFO SAYS CARIBBEAN AND LATIN AMERICA, EMEA ARE WHERE WE'VE GOT REALLY THE TOUGHEST TIME FOR OCCUPANCY RIGHT NOW

  • MARRIOTT CFO SAYS BY THE TIME WE GET TO 2022 WE SEE A LOT OF PENT-UP DEMAND

  • MARRIOTT CEO SAYS WE ARE SEEING INCREASES IN CONSTRUCTION COSTS BOTH ON THE LABOR AND MATERIALS SIDE

Further company coverage: MAR.O


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