Leisure Travel Improves for Marriott

On Friday, Maryland-based Marriott International reported a surprise third-quarter profit, helped by cost cuts and a near doubling of occupancy rates in its North American hotels from the previous quarter as leisure travel slightly rebounded. While international travel continues to be affected because of border restrictions in many countries, travel within nations has picked up and resulted in a small recovery in occupancy rates for hotel chains.

Marriott, which owns the JW Marriott and Ritz-Carlton brands, said 94 percent of its hotels around the world had resumed operations.

Occupancy rates in North America, Marriott’s biggest market, rose to 37 percent in the third quarter, up from 19.6 percent in the second quarter. The company said business and group travel were recovering more slowly.

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