Marriott Reopens All China Hotels as U.S. Occupancy Rises

The rebound of travel in China in the wake of the coronavirus pandemic has given Marriott International (NASDAQ: MAR) the green light to reopen all its Chinese hotels, according to a statement today from CEO Arne Sorenson. Occupancy rates in China have risen from as low as 7% earlier in the year to approximately 40% in late May, tracking the return to normality after strict lockdown measures halted COVID-19 there. Demand for hotel rooms in the United States is also recovering, according to the figures supplied by Sorenson at a travel conference hosted by Goldman Sachs.