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Marriott says it saw 'immediate surge' in bookings after EU announcement

May 10, 2021
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3 min read
Marriott Acquires Starwood Hotels For $12.2 Billion
Marriott says it saw 'immediate surge' in bookings after EU announcement
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It's no secret that the COVID-19 pandemic walloped the travel industry, but one hotel chain seems optimistic about its future post-pandemic.

The Marriott umbrella encompasses 30 brands and thousands of rooms, from swanky Ritz-Carltons to the wallet-friendly Four Points by Sheraton. The company reported earnings for the quarter today, and said RevPAR -- that is, the revenue per available room -- declined more than 46%, compared to the first quarter of 2020. But Marriott also said 95% of its 7,600 properties worldwide are open again, and that's good news for future earnings.

"In our largest region, the U.S. & Canada, demand increased rapidly as vaccine rollouts accelerated," Marriott's chief executive officer Tony Capuano said in a statement.

Marriott beat Wall Street analysts' expectation on earnings, but revenues of $2.3 billion fell slightly short of expectations for $2.5 billion in the quarter. Revenue was down 51% year-over-year.

In a statement, CEO Tony Capuano said, "We were pleased to see demand improve meaningfully during the first quarter."

Indeed, travel appears to be on the upswing in the United States and Canada, and Marriott also said it saw an "immediate surge" in call volume in the wake of the European Union's proposal to allow vaccinated travelers to enter the EU.

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While many details still have yet to be finalized, the EU is expected to welcome vaccinated tourists -- which would include Americans -- this summer.

European Commission president Ursula von der Leyen has been among the EU leaders pushing for a safe reopening — in a May 3 tweet, she shared a proposal “to welcome again vaccinated visitors & those from countries with a good health situation.”

Any U.S. passport holders entering the EU would likely need to present a COVID-19 vaccination certificate. In a press release, the European Commission stated that it would allow entry to "people who have received the last recommended dose of an EU-authorised vaccine." Member countries would be likely to accept vaccinations from Johnson & Johnson, Moderna and Pfizer, since all three have been approved for use in the EU.

Marriott appears to be optimistic that travel demand will rebound as more people are vaccinated worldwide.

"We have seen signs that there is a significant amount of pent-up demand, regardless of trip purpose, and we look forward to welcoming travelers in increasing numbers to our more than 7,600 properties around the world," Capuano said.

The EU is also warning, however, that countries could implement restrictions quickly if new outbreaks sprang up in order to limit the spread of new COVID-19 variants. That could impact vaccinated travelers as well.

Featured image by Getty Images
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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  • Packed with credits foodies will enjoy
  • Solid welcome bonus

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  • Some may have trouble using Uber and other dining credits
  • You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
  • Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
  • Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
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  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
  • $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
  • $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
  • Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
  • No Foreign Transaction Fees.
  • Annual Fee is $325.
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