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Marriott’s Q1 RevPAR declines 63.1% in Greater China

05/12/2020| 7:54:08 PM| 中文

Occupancy levels in Greater China are currently slightly more than 30%, up from the lows of less than 10% in mid-February.

Marriott International's comparable systemwide RevPAR declined 22.5 percent worldwide in the first quarter. Net income totaled $31 million, compared to $375 million in the year‐ago quarter.

The resiliency of demand is evident in the improving trends in Greater China, where new bookings continue to pick up with demand driven primarily by domestic travelers, said Arne M. Sorenson, president and chief executive officer of Marriott.

Occupancy levels in Greater China are currently slightly more than 30%, up from the lows of less than 10% in mid-February. For the first quarter this year, RevPAR in Greater China was USD 29.17, down by 63.1%. 

“In Greater China, our joint venture with Alibaba has been very helpful in rebuilding demand. A recent spring sale run by Alibaba’s Fliggy travel site was very successful and generated terrific near-term bookings. Bookings from Ctrip have also grown significantly over the past few weeks and are up over 15% for the first week of May versus the same time last year.”

The company added more than 14,500 rooms globally during the first quarter, including nearly 2,100 rooms converted from competitor brands and approximately 7,200 rooms in international markets. Net rooms grew 4.4 percent from a year ago.

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TAGS: Marriot | RevPAR | Greater China
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