Coronavirus pushes Marriott to furlough tens of thousands; other hotels to close [Los Angeles Times (CA)]
Marriott International - Class A (MAR)
Last marriott international - class a earnings: 2/26 04:30 pm
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Source: Los Angeles Times
With the travel industry staggered by the coronavirus outbreak, Marriott International said Tuesday it planned to furlough tens of thousands of workers in the face of unprecedented booking cancellations. The world’s largest hotel company, with 30 hotel brands and more than 7,000 properties worldwide, confirmed reports that it will be forced by a surge in cancellations to either cut back work hours or issue furloughs to a large portion of its workforce. Marriott International employed 174,000 people around the world at the end of 2019, according to securities filings. “We are adjusting global operations accordingly, which has meant either reduction in hours or a temporary leave for many of our associates at our properties,” the company said in a statement Tuesday. “Our associates will keep their health benefit during this difficult period and continue to be eligible for company-paid free short-term disability that provide income protection should they get sick.” Marriott’s announcement
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MAR
News
- Marriott International, Inc. (NASDAQ: MAR) had its price target raised by analysts at Barclays PLC from $239.00 to $240.00. They now have an "equal weight" rating on the stock.MarketBeat
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MAR
Earnings
- 2/13/24 - Beat
MAR
Sec Filings
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- 3/29/24 - Form 4
- MAR's page on the SEC website