Marriott International, Inc. (NASDAQ: MAR) today announced that it has purchased the 270-room W New York Union Square in the heart of Manhattans dynamic Union Square neighborhood. The company paid $206 million for W New York Union Square, with plans for a significant renovation.
Choice Hotels International, Inc. (NYSE: CHH) has signed a 10-year extension of its existing master franchising agreement with Choice Hotels Japan and expects to open more than 30 new Comfort hotels in the market by 2033.
Bay State Linen implements the InvoTech Laundry System to Manage Customer Accounts and Increase Profitability
Hilton (NYSE: HLT) today announced that the company entered into a management agreement with Ikeda Hotel Management Co., Ltd. to open DoubleTree by Hilton Toyama in 2022. This is the first property for Hilton in the Hokuriku region, located in northwest Japan.
On October 18, The Fullerton Hotel Sydney opens its doors in the heart of Sydney's Central Business District. Housed in the iconic former General Post Office (GPO) building at No. 1 Martin Place, the luxury hotel breathes new life into the city's much-loved landmark.
Only hotels in the South Atlantic region experienced a positive price momentum during this period. The performance of hotels in non-gateway cities declined at a faster rate relative to those in gateway cities. Hotel financial operating performance has finally returned to positive profitability with operating profit exceeding both a hotel propertys operating costs as well as financial (borrowing) cost, based on economic value analysis (EVA).