Strengthening leisure and business travel are pushing Marriott International’s performance around the globe, but lockdowns in Greater China are holding back hotels in the country, reports HNN’s Bryan Wroten.
The company saw RevPAR recovery in every region internationally except for Greater China, Marriott CEO Tony Capuano said during the company’s first quarter earnings call. It was there that RevPAR dropped significantly following lockdowns in several major cities, including Shanghai.
MGM Resorts International’s Las Vegas Strip properties and regional operations saw improving performance over the first quarter of 2022, but its properties in Macau in China continue to face headwinds, reports HNN’s Bryan Wroten.
China’s COVID-19 public health policies have created challenges for MGM Resorts’ two resort casinos in Macau, but the company’s market share was 13% higher than it has been historically and are positioned to capture premium mass business as demand returns, MGM Resorts President and CEO Bill Hornbuckle said during the earnings call.
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