The all-inclusive operator's executive chairman says he isn't selling the company, despite rumors, but is instead pouring tens of millions into properties to drive rate premiums.
The index fell to 97 in May, but this does not indicate that people have stopped traveling; travelers have just become more selective about where they spend their money.
The Korea-based hotel operator plans to grow its overseas portfolio to 55 hotels and resorts by 2029. Plus, more hotel deal and development news from APAC.
Prism may be listing in India, but its business is increasingly American. The Motel 6 acquisition now drives its profits and defines the purpose of its IPO.
The Chambers Hotel New York in Midtown Manhattan has reopened as a fully independent boutique hotel after a brief period as a Sonder property. Plus, more hotel deal and development news.
Visa just officially launch a consumer travel site that competes with the banks that pay Visa to issue their cards. That's the real story here, the structural conflict of a payment network establishing direct relationships with cardholders and entering into the banks' own travel businesses.