Marriott International (NASDAQ:MAR) posts a business update on the first two months of the year.
The hotel operator says global RevPAR growth was down 0.3% worldwide. RevPAR was up 3.2% outside of Asia Pacific.
Just as travel dries up in the U.S., Marriott says there are very early signs of improvement in Greater China as workers return to their jobs. The number of closed Marriott hotels in Greater China has declined from over 90 hotels a month ago to under 30 today. "While occupancy levels in Greater China are still under 15 percent today, this is an improvement, and trend lines are pointing in the right direction," notes the company.
Obviously, the trend lines are looking pretty negative in North America and Europe, where occupancy levels fell to below 25% over the last few days.
