FILE PHOTO: A guest arrives at the Marriott Marquis hotel in Times Square in New York City, U.S., November 8, 2017. REUTERS/Brendan McDermid
Shares of the company, which owns the Ritz-Carlton and St. Regis luxury hotel brands, fell 1.5% to $85.85 in premarket trading, after having declined about 42% this year. Marriott said its bookings in Greater China improved in April as the world’s second-largest economy gradually reopened for business.
Marriott said its revenue per available room dropped 22.5% to $84.51 in the first quarter ended March 31 from a year earlier. Net income fell to $31 million, or 9 cents/share, from $375 million, or $1.09 per share. On an adjusted basis, Marriott earned 26 cents per share in qtr
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