Marriott International Inc. turned a profit for the September quarter after posting a loss for the previous quarter, as travel demand improved from lows earlier in the pandemic. “While Covid-19 is still significantly impacting our business, our results for the third quarter showed continued improvement in demand trends around the world,” Chief Executive Arne Sorenson… Continue reading Marriott Returns to Profitability as Travel Demand Improved in Summer
Tag: hotel industry
One in Four Hotels Can’t Pay Their Mortgages
In a desperate plea for help, the hotel industry said it faces a default disaster, in which 25% of hotels are at risk of foreclosure. The report, sent to Congress this week and compiled by Trepp, shows that the percentage of hotel loans 30 or more days delinquent is 23.4% as of last month —… Continue reading One in Four Hotels Can’t Pay Their Mortgages