I think in many cases what happens is the banks want to preserve the value of the asset in which case keeping the brand on it is the best way to do that and will do so. Former Chairman, Chief Executive Officer and President, Potbelly CorporationSocial Responsibility & Community EngagementFormer Chairman and Chief Executive Officer, Suncoke Energy, Inc.Former Chairman and Chief Executive Officer, BET NetworksUniversity of Maryland School of Public Policy Just one follow-up on your net unit growth comments, looking forward what does the split of managed versus franchise growth look like? I don't really want an apartment that somebody lives in regularly.
Marriott CEO Arne Sorensen Says Most of the World Has Seen the Bottom. You can point at different markets and reach different conclusions. Remember in February, our occupancy numbers in China were sub 10%.
So I think for the rest of this year you're going to continue to see these really dramatically low levels, but giving you kind of sustainable forward numbers; I think we'll work through that but I would expect them to be quite substantial.So three things on HVMI, which are consistent with what Homes and Villas by Marriott International I should say, not use our internal lingo too much and expect you all to know it, but our home sharing business has been benefited by three trends all of which we've talked about; leisure, drive -- well two of them we've talked about, leisure, drive-to both advantages and whole home is an advantage. The improvement is primarily due to better matched timing of our cash outlays and reimbursements, as well as continued collections of receivables.Thank you, ladies and gentlemen. Thank you. And we see a little bit of a pause maybe in the days after July 4th, but as the month continues; we go back to trend essentially and see occupancy build in each week by a point or a point and a half compared to the prior week. So key money will always be an important part of the discussion, but I don't think on kind of that element in and of itself is really that different from other times.Our first question comes from one of Joe Greff of JPMorgan. Chuck E. Cheese Wants to Shred 7B Prize TicketsGet The Morning 8: The eight stories you need to know, bright and early. I actually think that the EDITION Time Square is not the poster child for this; it's a brand new hotel, it's a beautiful hotel.We've been able to reduce current breakeven profitability rates at our hotels around the world by 3 to 5 percentage points of occupancy to help our owners preserve cash.
Year-to-date, we have signed 30% more deals in Asia Pacific than we did in the first half of 2019. So whether you're doing things more flexibly around how you're managing certain departments, all the kind of contactless work that Arne was talking about using technology more that frankly will kind of change the way the guests interact with the hotel team. So we need to get farther into the year, but as you might imagine for the North American hotels where you have an owner's priority under most any circumstance you're seeing absolutely massive decline in RevPAR in 2020, and so for this year I think it's hard to imagine that there's anything very exciting to talk about there. Sorenson refers to the “overwhelming science” that shows masks to be essential for protecting employees and individual guests at hotels and resort properties and goes on to make the point that they’re also essential for guest Unfortunately, in light of the time it’s going to take for lodging demand and RevPAR (revenue per available room, which is a key industry indicator) to recover, “the furloughs and reduced work-week schedules which began in April for above-property associates in the United States will be extended through the beginning of October.” Furthermore, “given our expectation that prior levels of business will not return until beyond 2021, we expect to have a number of above-property position eliminations later this year.
You could see our total pipeline is down 1%, and I think if you look at the US and Europe by comparison, we're just much earlier in reacting to COVID-19. How do you view that?Historically leisure has made up roughly one-third of our total room nights in North America.