Marriott International's "group room nights on the books" are down about 2 percent year over year, according to COO Arne Sorenson.

"Still, with pent-up demand and easy comparables, we expect our in-the-year-for-the-year group business to improve from these levels." CFO Carl Berquist also highlighted "improving transient and group demand" in Europe and the United Kingdom, "better-than-expected corporate demand" in China and stronger "last-minute corporate demand" in Australia and Korea. Overall, Marriott is tracking occupancy growth across all segments, particularly the hardest-hit luxury segment.