Marriott is seeing the desire for travel — both domestic and international. Marriott International CEO Tony Capuano spoke during their third quarter earnings call, and is optimistic for the future.
“It’s been wonderful to see so many people traveling again and to witness firsthand the resilience of global travel,” he said.
Based on hotel room capacity, October improved from the month before, although Capuano said recovery is differing by region. However, group bookings for 2022 are already pacing 4 percent above pre-pandemic levels.
The special corporate guest segment was affected most by the Delta variant, according to Capuano.
“Special corporate bookings showed steady recovery each month this year until we saw a slight pullback in the back half of the third quarter,” he said. “The gradual upward trajectory returned in October with bookings versus 2019 growing each week during the month. Special corporate bookings are currently down less than 40 percent compared to the same time frame in 2019.”
Capuano believes when employees begin to return to the office, the segment will continue to improve.
Marriott’s Asia-Pacific portfolio, with the exception of China, is growing more slowly than the rest of the regions, although India saw a good increase.
In the third quarter of 2021, Marriott’s Europe occupancy rates reached to 47 percent, thanks to reopening of borders and easing of other restrictions.