BETHESDA (dpa-AFX) - While reporting its financial results for the fourth quarter on Thursday, Marriott International Inc. (MAR) said it expects that COVID-19 will continue to be material to its results. However, the company did not provide any outlook, citing the numerous uncertainties associated with COVID-19.
Marriott said it added nearly 63,000 rooms globally during 2020, including more than 28,000 rooms in international markets and a total of roughly 8,100 conversion rooms. Net rooms grew 3.1 percent from year-end 2019.
The company noted that at year end, its worldwide development pipeline totaled nearly 2,900 properties and more than 498,000 rooms, with 46 percent of those rooms under construction.
The company added it is seeing strong interest in conversions, as shown by its recent announcement of the planned conversion of 19 all-inclusive hotels with nearly 7,000 rooms to its system in the Caribbean and Latin America region during 2021.
Looking ahead, Marriott expects gross rooms growth could accelerate to about 6 percent in 2021.
Copyright RTT News/dpa-AFX
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