U.S. hotel operator Marriott International posted a bigger-than-expected quarterly loss on Monday, as the coronavirus crisis curbed global travel and led to a plunge in room bookings.
FILE PHOTO: Logo of Marriott hotel is seen in Vienna, Austria April 9, 2018. REUTERS/Heinz-Peter Bader
Marriott’s shares, down 40.3% this year, fell 3% in premarket trading as the company also reported an 84.4% plunge in revenue per available room - a key performance measure for the hotel industry. “While our business continues to be profoundly impacted by COVID-19, we are seeing steady signs of demand returning”, Chief Executive Officer Arne Sorenson said in a statement, adding that Greater China continued to lead the recovery.
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