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Marriott International posted bigger-than-expected Q2 losses

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Marriott posted its first quarterly decline in almost a decade.

We all know that the hotelier industry was amongst the most affected by the pandemic. If last week, Hilton posted higher-than-expected quarterly losses, today the American Marriott released its financial report. 

Marriott posted bigger-than-expected losses as the pandemic led to a plunge in bookings. 

The revenue figures came in at $1.46 billion, 72.4% lower than last year’s numbers. It underperformed the $1.68 billion expected. After adjustment, Marriott had a loss per share of 64 cents. 

Revenue per available room dropped by 84.4% at a global level, while in the US shed 83.6%. For this year, Marriott expects the room booking to grow by 2% up to 3%.

Marriott stock price slid 3.8% after the report. Year-to-date the share price fell 40.3%, while the USA500 is up 3.73%.

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Sources: cnbc.com, foxbusiness.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.