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Marriott trims US hotel plans, cancels development meeting

Sorenson told analysts that despite signing 30% more new development deals in the Asia Pacific region in 2020 than a year earlier, elsewhere, overall deal interest had declined, including in the U.S.

“The pace of signings is not as robust in other regions around the world largely due to the lackluster lending environment and owner uncertainty,” he said. “The pipeline is 1% lower than at the end of the first quarter with the slowed signings and a few more projects than usual put on hold.”

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