Marriott bounces back as activity in China surges
Marriott saw dramatic improvement in the third quarter as travel demand rebounded in China. Average occupancy at hotels in China hit 61% during the quarter, down just 10% from a year ago. Sorenson said leisure travelers who might usually go abroad are staying in China, boosting occupancy rates. Business and group demand is weaker, partly because international business travel โ which normally accounts for 25% of Marriott's business in China โ is down significantly. The trend toward remote work could accelerate a shift the industry was already seeing away from business travel, Sorenson said.