Marriott Worldwide has reported a web lack of $11 million for the primary quarter of 2021, in comparison with a web revenue of $31 million for a similar interval of final yr.
The corporate noticed a diluted loss per share of $0.03 within the quarter.
Furthermore, quarterly revenues on the resort big slipped to $2.three billion, down by greater than half from the $4.7 billion recorded within the three months to March 31st final yr.
RevPAR throughout the corporate was down by 46 per cent worldwide within the quarter.
Tony Capuano, chief government of Marriott, stated: “We had been happy to see demand enhance meaningfully in the course of the first quarter.
“We’re welcoming an increasing number of visitors to our accommodations as customers are touring once more as soon as they really feel it’s protected.
“Whereas restoration trajectories fluctuate from area to area, the resiliency of demand has been most keenly demonstrated in mainland China, the place occupancy is close to the pre-pandemic degree.”
Marriott stated occupancy reached 66 per cent in mainland China in March, practically the identical as in March 2019, on robust demand from each leisure and enterprise travellers.
Capuano added: “In our largest area, the USA and Canada, demand elevated quickly as vaccine rollouts accelerated.
“Occupancy began the yr at 33 per cent in January and reached 49 per cent by March.
“Leisure demand gained momentum, notably in ski and seashore resort locations.”
He added: “We’re inspired to see inexperienced shoots in particular company and group bookings, which have been bettering as corporations slowly start to return to their workplaces.”
Marriott added greater than 23,500 rooms globally in the course of the first quarter, together with practically 12,000 rooms in worldwide markets and a complete of about 7,300 conversion rooms.
