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Marriott posts bigger-than-expected loss as virus hits bookings

August 10, 2020 by admin 0 Comments

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This photo taken on January 11, 2018 shows a woman walking past Marriott signage in Hangzhou in China’s Zhejiang province.

– | AFP | Getty Images

Hotel operator Marriott International on Monday reported its first quarterly loss in nearly nine years, as extended travel disruption due to the Covid-19 pandemic hammered bookings.

The company’s loss attributable to stockholders was $234 million, or 72 cents per share, in the second quarter ended June 30, compared with net income of $232 million, or 69 cents per share, a year earlier.

Total revenue plunged 72.4% to $1.46 billion.

This article was originally published by Cnbc.com. Read the original article here.