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Investors - MAY 11, 2021

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Marriott reports $11m net loss in first quarter, pleased to see improved demand

by Andrea Zander

Marriott’s reported operating income totaled $84 million in first quarter 2021, a significant drop compared to first quarter 2020’s reported operating income of $114 million. Reported net loss totaled $11 million in first quarter 2021, compared to first quarter 2020’s reported net income of $31 million.

Tony Capuano, CEO of Marriot International, said, “We were pleased to see demand improve meaningfully during the first quarter. We are welcoming more and more guests to our hotels as consumers are traveling again once they feel it is safe. While recovery trajectories vary from region to region, the resiliency of demand has been most keenly demonstrated in mainland China, where occupancy is near the pre-pandemic level. Occupancy reached 66 percent in mainland China in March, nearly the same as in March 2019, on strong demand from both leisure and business travelers.

“In our largest region, the United States and Canada, demand increased rapidly as vaccine rollou

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