A revolution is both a major change that disrupts the established order and a complete reversal that brings us back to the starting point: these two dynamics are exactly what the hospitality sector has gone through in recent months. The COVID-19 crisis has profoundly disrupted the finances and economic hierarchy of hotel groups, confirming in particular the rise in power of certain Chinese players. However, Western companies have almost managed to get back to the valuation levels achieved in the pre-crisis period, and are still ahead of the game thanks to their financial strength. They have implemented different strategies to raise cash, and some have solid reserves preparing them for the future, where they will have to deal with some impressive new players.
2021 FINANCIAL RANKING OF HOTEL GROUPS: POST-COVID, THE REVOLUTION The American giant Marriott keeps its title of global champion in the sector in terms of rooms (1.4 million worldwide), profitability ($1.1 billion adjusted EBITDA in 2020) and enterprise value (over $53 billion as at 1/1/2021...
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