Marriott: Q2 loss above estimates
(CercleFinance.com) - The Marriott International hotel chain has reported an adjusted net loss of 210 million dollars for Q2 2020, i.
e. 64 cents per share, about 20 cents above the consensus.
As a result of the Covid-19 pandemic, worldwide comparable RevPar (revenue per available room) dived 84.4% at constant dollars, resulting in a collapse in adjusted EBITDA to 61 million dollars, against 952 million dollars a year ago.
While Marriott cannot estimate the financial impact of the health crisis given the many uncertainties surrounding it, Marriott expects that “COVID-19 will continue to be material to the company's results“.
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