Shares of Marriot and other hotel chains pushed toward record highs Thursday as investors anticipated that new stimulus checks for millions of Americans and relaxed travel restrictions will lead to more bookings.
Online travel bookings site Expedia rose by 2.1% at end at a record close of $171.08. Marriott tacked on 1.6% to end at $148.83, a third winning session. The stock two weeks ago logged its all-time high of $159.98.
Some industry watchers have said consumers having more spending money can help the travel sector recover from the coronavirus crisis, but hurdles remain. The pandemic is still not over and millions of Americans are still out of work, they’ve cautioned.
But COVID-19 case counts “continue to decrease every day,” as more people are vaccinated, New York Governor Andrew Cuomo said Thursday as the state lifted its requirement for domestic travelers to quarantine after arrival, effective April 1. International travelers will still be required to quarantine.
“We have launched the private island for discerning travelers during this time when we know that safety and security are a top priority amongst the evolving needs of travellers,” Etienne Dalancon, general manager at Waldorf Astoria Maldives Ithaafushi, told Insider in an email interview. “The Ithaafushi private island offers a high level of exclusivity and natural social distancing. “
“The main focus of Ithaafushi private island was to offer an escape where guests can have their own private haven that connects with nature, offering more outdoor spaces so they can enjoy holistic activities in distanced spaces,” Dalancon told Insider.
Waldorf Astoria has done just that with this new island.
The Ithaafushi private island is the hotel chain’s “crown jewel of their luxury portfolio in Asia Pacific,” Nils-Arne Schroeder, vice president of luxury and lifestyle at Hilton’s Asia Pacific segment, said in a statement.