Marriott International Reopens All 350 Hotels in China as It Emerges from COVID-19 Lockdown
According to CEO of Marriott International, Arne M. Sorenson, all 350 Marriott properties in China has been reopened as the country emerges from COVID-19 lockdowns. While the financial impact on the industry has been disastrous, occupancy rates are slowly improving and reaching 40% on average (occupancy rates fell as low as 7% in late January 2020).
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Photo Credit: The Shanghai EDITION
While the average consumer is still cautious regarding leisure travel, there has been a noticeable recovery in business travel and Chinese consumers are starting to travel again. Marriott International is the third largest hotel chain in the world and even though the average occupancy rate in the US is also recovering, it is only estimated to be at 20% at the time of writing.
Two weeks prior to this, Hilton decided to reopen all 255 hotels in China and introduced a CleanStay initiative to protect both employees and hotel guests. While it may take years before the industry return back to a pre COVID-19 state (in terms of occupancy and RevPAR), it is certainly comforting to see some light at the end of this tunnel.
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