Monday, July 7, 2025
  • Login
CEO North America
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
CEO North America
No Result
View All Result

CEO North America > News > Good signs for travel

Good signs for travel

in News
- Good signs for travel
Share on LinkedinShare on WhatsApp

Personal and business travel is picking back up in key markets.

Arne Sorenson, CEO of parent company Marriott, said personal and business travel is picking back up in key markets. U.S. downloads of the top online travel agency apps (including Airbnb, Expedia, and Hopper) got back to pre-pandemic levels on May 28th after increasing for 10 straight days, according to Apptopia, and app usage for top international hotels in China has also rebounded. These are all good signs for personal and business travel, which have been strongly impacted by the novel coronavirus. Mr. Sorenson told a travel conference: “It’s not just leisure travel growing, but it is business travel. Chinese are flying again.”

However, he warned that occupancy might not recover to pre-coronavirus levels for several years.

According to BBC, Marriott said demand for hotel rooms in the US is also recovering but is currently only about half the level of its China properties at 20%. The hotel group, which owns about 30 brands including Ritz-Carlton, St Regis and Sheraton, has extended furloughs for employees and reduced working weeks until early October.

“Given the company’s expectation that prior levels of business will not return until beyond 2021, the company (Marriott) anticipates a significant number of above-property position eliminations later this year,” it said in a statement.

Marriott said the pandemic has had a greater impact on its business “than 9/11 and the 2008 financial crisis, combined,” and Sorenson doesn’t expect a return to 2019’s global occupancy rate of 71% for a few years. The hotel and travel industry in China were among the first to be hit from the coronavirus outbreak, and look to be the slowest to recover as businesses and factories reopen across the country.

Just inside the United States, a report from the U.S. Travel Association and Oxford Economics predicts a $519 billion decline in travel spending in the US this year will translate into a total economic loss of $1.2 trillion in economic output. Even though the spending declines are set to gradually recover over the course of the year as restrictions are loosened, losses are still expected to continue throughout 2020.

Tags: Arne SorensonCEOCEO NorthamHotel industryMarriottTravel

Related Posts

Paramount CEO explains why company paid Trump millions in 60 Minutes settlement
News

Paramount CEO explains why company paid Trump millions in 60 Minutes settlement

SAS CEO announces Air France–KLM to become majority owner
News

SAS CEO announces Air France–KLM to become majority owner

- Trump sends letter warning of 70% tariffs
News

Trump sends letter warning of 70% tariffs

Constellation CEO attributes beer sales decline to immigration crackdown
News

Constellation CEO attributes beer sales decline to immigration crackdown

China “strongly opposes” chip controls
News

Trump lifts chip restrictions on China

House on track for deadline after all-nighter
News

House on track for deadline after all-nighter

Hyundai and Kia to adopt Tesla EV chargers
News

Tesla stock rises as company reports steep sales decline

‘Big Beautiful Bill’ Medicaid cuts could leave millions uninsured
News

‘Big Beautiful Bill’ Medicaid cuts could leave millions uninsured

Del Monte Foods files for bankruptsy
News

Del Monte Foods files for bankruptsy

US job availability drops to new two-year low
News

Jobs report shows unexpected increase

No Result
View All Result

Recent Posts

  • What makes the Royal Edinburgh Military Tattoo so special?
  • Beyond the Machine: Why Human-Made Art Matters More in the Age of AI
  • 7 Benefits of High Intensity Interval Training
  • Paramount CEO explains why company paid Trump millions in 60 Minutes settlement
  • SAS CEO announces Air France–KLM to become majority owner

Archives

Categories

  • Art & Culture
  • Business
  • CEO Interviews
  • CEO Life
  • Editor´s Choice
  • Entrepreneur
  • Environment
  • Food
  • Health
  • Highlights
  • Industry
  • Innovation
  • Issues
  • Management & Leadership
  • News
  • Opinion
  • PrimeZone
  • Printed Version
  • Technology
  • Travel
  • Uncategorized

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Advertising –
advertising@ceo-na.com

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

Avenida Chapultepec 480,
Floor 11
Mexico City
06700
MEXICO

  • News
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Advertising –
advertising@ceo-na.com

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

Avenida Chapultepec 480,
Floor 11
Mexico City
06700
MEXICO

CEO North America © 2024 - Sitemap

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.