Covid 19 Time SeriesUS hotel operator Marriott International posted a bigger-than-expected quarterly loss on Monday, as the coronavirus pandemic curbed global travel and led to a plunge in room bookings. Marriott’s shares, down 40.3 per cent this year, fell 3.8 per cent in premarket trading as the company also reported an 84.4 per cent plunge in revenue per available room (RevPAR) - a key performance measure for the hotel industry. Marriott last reported a quarterly loss in the third quarter of 2011. On an adjusted basis, Marriott reported a loss of $0.64 per share. Analysts on average had estimated revenue of $1.68 billion and loss of $0.42 per share for the quarter, according to Refinitiv IBES data.

Source: Standard Digital August 10, 2020 11:48 UTC