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March 5, 2020

Coronavirus Slams U.S. Hotel Industry’s Global Operations

 

WSJ
By Keiko Morris and Craig Karmin

The hotel industry's decadelong run of growth and rising revenue looked vulnerable at the start of the year. Now the spread of the coronavirus threatens to make it the worst-performing year since the recession.

The biggest hotel brands have already warned about how tough last month was, and how challenged the first quarter is going to be. Marriott International Inc. said during an earnings call last week that revenue per available room for Greater China, which represents about 9% of the company's total room count, plunged nearly 90% in February compared with a year earlier. Read more.

 
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