by Dee-Ann Durbin, AP Business Writer | August 10, 2020
Marriott has reopened 91 percent of its hotels globally as business travel reemerges in China, and worldwide occupancy, which tumbled to 11 percent in April, reached 34 percent. 

The company reported quarterly profits on Monday that fell far short of expectations, however, and revenue plunged. Shares dipped about 3 percent before the opening bell. 

In China, where business travel and even some group events have resumed, occupancy levels reached 60 percent, about 10 percent lower than the same period last year, Marriott said. 

"The improvement we have seen in greater China exemplifies the resilience of travel demand once there is a view that the virus is under control and travel restrictions have eased," CEO Arne Sorenson said in a prepared statement.

Marriott had a net loss of $234 million for the second quarter after a $232 million profit in the April-June period last year. Adjusted for one-time items, Marriott lost 64 cents per share, far worse than the loss of 41 cents that Wall Street had expected, according to a survey by FactSet.

Revenue plunged 72 percent to $1.5 billion, just shy of analyst projections.