Marriott closes a quarter of its hotels worldwide due to coronavirus

Marriott has temporarily closed about 25 per cent of its 7300 hotels around the world as a result of the ongoing coronavirus travel restrictions.

The hotel giant has also flagged more closures ahead, as well as further falls in revenue per room.

North American occupancy levels are at about 10 per cent, and more than 870 hotels are temporarily closed (16 per cent).

Marriott is anticipating its March revenue per room fell 60 per cent globally in March, and that revenue per available room decreased approximately 60 per cent worldwide.

Hotels and other travel providers will have to compete from loans from a US$500 billion fund that was announced as part of President Donald Trump’s $2.2 trillion stimulus package.