Marriott: Q1 misses consensus
(CercleFinance.com) - Marriott International has reported adjusted net earnings that have been divided by six to 85 million dollars for the first three months of 2020, representing EPS of 26 cents, missing the consensus by more than fifty cents.
Also reflecting the effects of the health crisis, comparable global RevPar (income per available room) of the hotel chain fell by 22.5% at constant dollars, with contractions of 19.5% in North America and 30.4% in the rest of the world.
Due to the many uncertainties relating to the Covid-19 pandemic, Marriott says that it cannot estimate the financial impact of this unprecedented situation, while expecting that this impact will continue to be significant.
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