Singapore (2009-10-13)

MARRIOTT International expects to open 33,000 rooms globally in 2009 and a further 25,000 to 30,000 in 2010, even as its Asia-Pacific properties continued to suffer declines in RevPAR, occupancy and Average Daily Rate (ADR).

Asia-Pacific company-operated properties registered a..." />
 
Thursday . June 27 . 2019
         
 
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Marriott eyes slow and uneven' recovery
 
Singapore (2009-10-13)

MARRIOTT International expects to open 33,000 rooms globally in 2009 and a further 25,000 to 30,000 in 2010, even as its Asia-Pacific properties continued to suffer declines in RevPAR, occupancy and Average Daily Rate (ADR).

Asia-Pacific company-operated properties registered a 29.6 per cent decline in RevPAR to US$74.55, a 6.1 per cent decline in occupancy to 62.6 per cent, and a 22.7 per cent drop in ADR to US$119.

Asia-Pacific systemwide properties (including franchised properties) registered a 25 per cent decline in RevPAR to US$82.39, a 6.7 per cent decline in occupancy to 63.1 per cent, and a 17 per cent drop in ADR to US$130.53.

Marriott International chairman and CEO J.W. Marriott, Jr. said while the company had worked hard to rein in costs, it anticipated a slow and uneven recovery. "Our continued focus on driving revenue, controlling costs and strengthening our balance sheet will position us to benefit from an improving economy."

Overall, the company posted a US$466 million loss from continuing operations in the third quarter.

 
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