Marriott Is Already Reopening China Hotels During Coronavirus Crisis
Marriott was already having trouble in Asia-Pacific in 2019 before the coronavirus impact hit. The company isn't forecasting a major impact outside of Asia, and it's already reopening hotels inside China. It pays to collect fees — and not actually own or run hotels — during a crisis like this.
As Marriott International goes, so goes the global hotel industry. The sector's largest player has had its China operation annihilated by the coronavirus crisis, but is already seeing positive signs of a return to normal.
So much so that the chain has started to open hotels that had been closed in China, executives said. They didn't say where, or specify how many.
"This will pass, and when it does, the impact to our business will quickly fade," said Arne Sorenson, CEO of Marriott International, on the company's fourth quarter earnings call Thursday.