Marriott Hotels Shutting Down
#1
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Marriott Hotels Shutting Down
https://www.washingtonpost.com/busin...wpisrc=nl_most
Clip from the above article:Now, the economy is screeching to a halt and the stock market is in free fall. On Thursday, the Big Three automakers said they would close their factories through March 30. Real estate agents have canceled open houses. Marriott, the largest hotel company in the world, is closing its hotels and furloughing thousands of workers.
In a video message to employees, CEO Arne Sorenson said he would not take any salary for the rest of the year. The pandemic “is like nothing we’ve ever seen before,” he said.
The sudden loss of hotel business exceeded the combined effects of the Great Recession and the aftermath of the 9/11 terrorist attacks. On average, hotel revenue is down 75 percent, which requires draconian retrenchment.
“I can tell you that I have never had a more difficult moment than this one,” said an emotional Sorenson. “There is simply nothing worse than telling highly valued associates, people who are the very heart of this company, that their roles are being impacted by events completely out of their control.”
Clip from the above article:Now, the economy is screeching to a halt and the stock market is in free fall. On Thursday, the Big Three automakers said they would close their factories through March 30. Real estate agents have canceled open houses. Marriott, the largest hotel company in the world, is closing its hotels and furloughing thousands of workers.
In a video message to employees, CEO Arne Sorenson said he would not take any salary for the rest of the year. The pandemic “is like nothing we’ve ever seen before,” he said.
The sudden loss of hotel business exceeded the combined effects of the Great Recession and the aftermath of the 9/11 terrorist attacks. On average, hotel revenue is down 75 percent, which requires draconian retrenchment.
“I can tell you that I have never had a more difficult moment than this one,” said an emotional Sorenson. “There is simply nothing worse than telling highly valued associates, people who are the very heart of this company, that their roles are being impacted by events completely out of their control.”
#3
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Same goes with Hilton and Hyatt. Not every hotel is closing, and I suspect it's the same with Marriott but when hotels have occupancy rates below 20% for extended periods, they close. Much like many hotels in Europe do during the offseason.
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#7
The latest. it was just for a short time but it's going to get worse before it gets better
https://www.cnbc.com/2020/03/21/faa-...ing-issue.html
#8
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I'll just fly day turns then.
In all seriousness, this is going to be a huge challenge to try and find hotels to put crews in. Certain cities are closing all hotels, like Miami.
I don't know how we keep operating unless certain hotels can stay open for "essential" services
In all seriousness, this is going to be a huge challenge to try and find hotels to put crews in. Certain cities are closing all hotels, like Miami.
I don't know how we keep operating unless certain hotels can stay open for "essential" services
#9
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Joined APC: Dec 2017
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Airlines may have to go to the "Allegiant" model where all trips are out and backs. And the Fractionals will get hit hard if too many hotels close. There were many times in small cities where they had trouble finding us a hotel. Once in Marfa, TX we had to ride the City handicapped van 27 miles to a Hampton Inn in Alpine, TX. Nothing was closer. No taxi service, limo, etc. Next day no ground trans available, hotel owner happened to be in town and gave us a ride.
#10
BTW, there is no mention of this on either the Bonvoy or Hilton websites so ....
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