Daily Podcast: Marriott’s Massive Profit
Good morning from Skift. It's Wednesday, February 16, in New York City. Here's what you need to know about the business of travel today.
Marriott International News
The journey of the largest hotel chain in the world, Marriott International, Inc. – now with more than seven thousand hotel, residential, and timeshare properties – began with a root-beer stand in Washington, D.C. in 1927 started by J. Willard and Alice S. Marriott. Following its $13.3 billion acquisition of Starwood Hotels & Resorts in 2016, it became the largest global hotel company. It currently commands a mammoth portfolio of more than two dozen hotel brands such as JW Marriott Hotels, The Ritz-Carlton, The Luxury Collection, Delta Hotels, Marriott Vacation Club, Le Méridien, Sheraton Hotels and Resorts, Courtyard, Fairfield, and W Hotels. Its properties contain nearly a million and a half rooms worldwide. Through its premier loyalty program Bonvoy, it is engaged in partnerships with the likes of United Airlines, Uber, American Express, Hertz, and others to optimize customer engagement.
Marriott Rode Leisure Travel Trends to a $1 Billion Profit Last Year
The U.S. recovery fueled Marriott's profitable fourth quarter and entire 2021. But weaker performance in China isn't deterring the company from wanting to have more hotels there and other international markets. Real estate is a long-term play.
Daily Podcast: Investing in Airline Loyalty
Good morning from Skift. It's Tuesday, February 15, in New York City. Here's what you need to know about the business of travel today.
Marriott’s Executive Chairman J.W. Marriott to Retire in May
Truly an end of an era: Bill Marriott is why the world's largest hotel company exploded beyond the restaurant business into a global force in hospitality.
U.S. and China Developments Will Dominate Hotel Earnings Season
Omicron soured hotel recovery momentum at the end of last year, but high daily rates for U.S. hotels and groundbreakings in China offer two growth narratives amid the pandemic setback.
China Sends Mixed Signals for Hotels During Lunar New Year
Just as China was beginning to show signs of strong momentum for hotels heading into the Lunar New Year, another report came out showing Omicron is too much of a headwind for hotels to overcome.
Choice Considers Best Way to Expand Into High-End Hotels
It won’t be an easy task, but Choice Hotels moving beyond the sectors that gave it durability during the pandemic makes sense for the recovery — if it manages to build the right upscale portfolio.
Accor Offers Glimpse Into Plans for Ennismore Joint Venture
Is Accor ever going to have the same U.S. portfolio size as Marriott or Hilton? Almost certainly not. But targeted focus on higher-end segments can make the Paris-based hotel company a formidable player on the highly competitive American hotel playing field.
How Hyatt Plans to Leverage Newly Acquired Apple Leisure for Global Growth
Hyatt is banking on a mix of organic brand growth as well as the $2.7 billion Apple acquisition to significantly ramp up its portfolio development in the next few years. All-inclusive resorts as well as the Hyatt Place brand are especially going to be the ones to watch.
Marriott Flexes Its Extended Stay Muscle
Don’t let the multibillion-dollar deals from Blackstone and Starwood Capital for brands like Extended Stay America cloud one's brand judgment. Marriott is the massive player in the extended stay hotel sandbox — and has a leg up in appealing to more lucrative business travel.