Hilton Worldwide swings to a surprise loss in the fourth quarter invezz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from invezz.com Daily Mail and Mail on Sunday newspapers.
Huntley Mitchell 10 Nov 2020
It’s been a difficult year so far for hotel companies, to say the least, but the key players are all witnessing green shoots in their recovery from the impacts of COVID-19.
In the third quarter of this year,
Marriott International saw its worldwide RevPAR drop 65.9 per cent, compared to the same period in 2019.
However, CEO Arne Sorenson noted this figure was a nearly 19-percentage-point improvement from the decline in the second quarter.
“Greater China continues to lead the recovery and demonstrates the resiliency of travel demand, with third-quarter occupancy of 61 per cent and RevPAR recovering to down 26 per cent – a 35-percentage-point improvement compared to the decline in the second quarter,” he said.