Marriott says 25 percent of all hotels are closed worldwide
Hotel group Marriott International says about a quarter of all hotels worldwide are shuttered and expects more will close in the coming weeks.
That amounts to more than 1,800 properties.
As well as more closures, occupancy rates will likely continue falling, the company said in a new business update.
North American occupancy is about 10%, with more than 870 hotels temporarily closed.
North America RevPAR plummeted by nearly 60% in March, and declined even more in Europe at 71%.
It expects ‘further erosion in RevPAR performance and does not expect to see a material improvement until the spread of covid-19 has moderated and governments have lifted restrictions."
The wider industry has been hit just as hard with nearly 80% of all hotel rooms across the country empty, according to data from hotel industry analysts STR.
Marriott has donated $10 million in hotel stays for medical personnel in metro areas worst-hit by the coronavirus.
These are New York, New Orleans, Detroit, Los Angeles, Las Vegas and Washington.
Additionally, there are more than 2,000 hotels in the Americas participating in the ‘Community Caregiver Program,’ which provides discounted rates for medical professionals.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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