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    grosvenorhousemarriott

    Marriott to maintain higher ground

    Marriott International said that it had no plans to “play” in the midscale space and would continue to focus on the profitable upscale segments. The company, which reported a 7% growth in its pipeline, said that it expected to see a rise in the number of hotels leaving its system as a result of plans [...]
    staybridge

    Brookfield tipped for Saco

    Brookfield Property Partners is expected to acquire serviced apartment business Saco for around GBP430m from Oaktree Capital Management. The deal came as the sector saw growing M&A activity, as serviced apartments entered the mainstream for property investors. It is thought that Mapletree and Invesco were both competing for Saco, which currently has 39 assets and [...]
    Hyatt Ziva Puerto Vallarta

    Hyatt sells as Reits return

    Hyatt Hotels Corporation is to accelerate its move towards a fee-based business, with plans to raise USD1.5bn through “meaningful” asset sales over the next three years. As the operator was looking to pull back from ownership, the Reits – Park Hotels & Resorts and Host Hotels & Resorts – both confirmed an acquisitive eye. Hyatt [...]
    Hospace

    Hospitality models Brexit cliff edge

    An increasing number of companies are preparing for a ‘cliff edge’ Brexit, delegates at this year’s Hospace conference, held in London, were told. The comments came as data from Eproductive and the University of Surrey reported that the number of hours worked by EU labour had increased in the two years to June 2017. The [...]
    Priceline

    OTAs push brands

    The Priceline Group saw a 7% fall in shares after making a disappointing forecast, while promising to expand marketing for the Booking brand. Tripadvisor also announced plans to increase advertising spending, while China-based rival Ctrip planned to use its Skyscanner brand to drive global growth. Glenn Fogel, The Priceline Group CEO, told analysts that by [...]
    choicevacationrentals

    Choice hails technology strength

    Choice Hotels International described itself as being in “a unique position at the intersection of hospitality, franchising and technology”. The company, which upgraded its domestic system growth forecast, said that its new reservation system, due in 2018, would allow it to be “ahead of the game” regarding data-driven technologies such as AI and voice search. [...]

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