For over 20 years, the Color Harmony series has provided widely acclaimed comprehensive expert color advice and insight into how color works, what can be achieved with the right color choices, and ...
Company to add 5,000 more rooms than previously announced
Looking for a possible sign of better times in the offing for the hotel sector? Here's one: Marriott International Inc. said it expects to add 5,000 more rooms this year than previously announced, and that it believes its system-wide revenue per available room (RevPAR) outside North America will decline 2 percentage points less than previously expected.
The company made those disclosures in a press release, but did not provide additional details on the factors underlying its more upbeat expectations. In its statement, the hotel giant said it now expects to add a total of 38,000 rooms this year, rather than the previously announced 33,000, and that it expects RevPAR outside of North America to decline 14 to 16 percent, rather than 16 to 18 percent. Marriott also reiterated that it expects RevPAR inside North America to decline 13 to 16 percent for the year.
Did you enjoy this article? Click here to subscribe to the magazine.
