Marriott Reopens All China Hotels as U.S. Occupancy Rises

Rhian Hunt, The Motley Fool
Marriott Reopens All China Hotels as U.S. Occupancy Rises

The rebound of travel in China in the wake of the coronavirus pandemic has given Marriott International (NASDAQ: MAR) the green light to reopen all its Chinese hotels, according to a statement today from CEO Arne Sorenson. Occupancy rates in China have risen from as low as 7% earlier in the year to approximately 40% in late May, tracking the return to normality after strict lockdown measures halted COVID-19 there. Demand for hotel rooms in the United States is also recovering, according to the figures supplied by Sorenson at a travel conference hosted by Goldman Sachs.