Marriott Returns to Profitability in Q3

By Paul Riegler on 6 November 2020
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Marriott International announced financial results for the third quarter of 2020.

The world’s largest hotel operator posted a $100 million profit for the period on revenue of $252 million after posting its second-largest quarterly loss in second quarter amidst the coronavirus pandemic.

“While COVID-19 is still significantly impacting our business, our results for the third quarter showed continued improvement in demand trends around the world,” said Arne Sorensen, the company’s CEO.

The hotelier said that worldwide RevPAR, or revenue per available room, declined 66% in the quarter, a 19-percentage point improvement from the second quarter.   Occupancy in North America was 37%, double the figure from Q2.

Marriott also reported that 94% of its hotels across the globe are now open.

(Photo: Accura Media Group)

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