Marriott International Inc. swung to a loss for the first quarter, though it pointed to rising demand in the U.S. and Canada, its largest region, asThe hotel chain, whose portfolio encompasses more than 7,600 properties world-wide, saw demand in leisure travel pick up momentum, especially in ski and beach resort destinations, Chief Executive Anthony Capuano said.
Marriott also saw green shoots in special corporate and group bookings as companies slowly began their return to offices, though bookings in the U.S. and Canada for those categories remain below pre-pandemic levels, Mr. Capuano added. The company on Monday posted a net loss of $11 million, compared with a profit of $31 million in the same period last year. Adjusted earnings were 10 cents a share, ahead of Wall Street estimates.
Revenue fell to $2.32 billion from $4.68 billion. Analysts polled by FactSet were looking for $2.38 billion.
Israeli attacks on the Palestinians are against international law and basic morality and must come to an immediate end. We urge the world to take action now to stop the new waves of Israeli aggression. HearGaza
book your travel with local inns and non-chain restaurants instead. they need your money a lot more than Marriott does.
HearGaza Palestinians are dying in Jerusalem today. If we don't do anything to prevent this, how will we look at the faces of our children tomorrow?
this is terrible news