Marriott says booking window in Greater China down to under three days
12:01 pm Thursday, September 05th, 2024
(Reuters) – Hotel operator Marriott International said on Thursday a key bookings metric in Greater China is now under three days, amplifying caution around travel plans amid rising uncertainty in the world’s second-largest economy.
“The ability to really build in creative and aggressive pricing strategy is impacted pretty significantly (by the short booking window),” CEO Anthony Capuano said at the Bank of America Gaming and Lodging Conference.
The three-day booking window is the shortest he has seen, Capuano added.
Booking window refers to the number of days between the reservation date and actual arrival.
In July, Marriott lowered its forecast for 2024 room revenue growth, citing softer domestic travel demand in China and North America.
Capuano also said on Thursday the lack of inbound international travel in China and limited flight capacity have posed a challenge to the company.
(Reporting by Aishwarya Jain in Bengaluru; Editing by Sriraj Kalluvila)
