All articles tagged with #hotel industry
Originally Published 3 months ago — by BuzzFeed
Reddit users reveal shocking behind-the-scenes secrets of luxury hotels, including unethical practices, criminal activities, and management cover-ups, highlighting the often hidden and controversial aspects of the hospitality industry.
Originally Published 7 months ago — by The New York Times
President Trump acknowledged that his aggressive immigration crackdown is negatively impacting the farming and hotel industries, admitting that it is removing long-time workers and causing ripple effects on the American workforce, with indications that changes to the policy may be forthcoming.
Originally Published 1 year ago — by Live and Let's Fly
New York City is addressing its migrant crisis by contracting 20% of its hotel rooms for a sanctuary program, costing taxpayers $10 billion over three years. This has led to higher hotel rates and additional taxes for visitors, effectively shifting some of the financial burden to tourists. The program benefits hoteliers with guaranteed occupancy and elevated rates, while the city's ban on short-term Airbnbs further drives up hotel demand.
Originally Published 1 year ago — by Yahoo Finance
Choice Hotels International has abandoned its $7.2 billion takeover bid for Wyndham Hotels & Resorts after failing to garner enough shareholder support. The exchange offer and director nominations have been withdrawn, and Choice will focus on its standalone strategy while increasing its share buyback authorization. Wyndham, which operates budget hotel brands, has expressed confidence in its standalone growth prospects. The decision to end the takeover bid could benefit Choice, with analysts speculating the possibility of another offer in the future.
Originally Published 1 year ago — by One Mile at a Time
Dave Portnoy criticized the EDITION Tampa hotel for its $5,000 per night suite, calling it the worst in terms of value and suggesting the hotel's revenue manager should be jailed. While some argue that Portnoy's frustration is unjustified given the suite's premium features, others agree that luxury travel lacks value in today's market due to increased demand and inflated rates.
Originally Published 1 year ago — by Yahoo Finance
IHG, the owner of hotel chains like Holiday Inn and Crowne Plaza, announced plans to return over $1 billion to shareholders in 2024 after a successful 2023, with annual room revenue and adjusted operating profit exceeding $1 billion for the first time. The company aims for high single-digit growth in fee revenue by increasing revenue per room and the number of hotels annually, and raised its final dividend by 10% while launching a new $800 million share buyback program. CEO Elie Maalouf highlighted the long-term demand drivers in the travel industry and expressed confidence in the brand portfolio's ability to drive revenue and system size growth.
Originally Published 2 years ago — by The Associated Press
Choice Hotels is launching a hostile takeover bid for Wyndham Hotels & Resorts after failed attempts to reach a deal. The offer, valued at about $8 billion, includes $49.50 in cash and 0.324 shares of Choice common stock per Wyndham share. Choice CEO Patrick Pacious expressed a preference for a negotiated agreement but stated that the refusal of Wyndham's board to engage left them with no choice. Choice will be meeting with Wyndham shareholders and starting the regulatory approval process. Wyndham's board will evaluate the offer and determine the best course of action.
Originally Published 2 years ago — by Yahoo Finance
Choice Hotels is launching a hostile takeover bid for Wyndham Hotels & Resorts after being repeatedly rebuffed in its attempts to reach a deal. The offer, valued at about $8 billion, includes $49.50 in cash and 0.324 shares of Choice common stock per Wyndham share. Choice Hotels CEO Patrick Pacious expressed a preference for a negotiated agreement but stated that the Wyndham Board's refusal to engage left them with no choice. Choice Hotels will be meeting with Wyndham shareholders and starting the regulatory approval process. The exchange offer expires on March 8, 2024, and Choice Hotels is committed to completing the transaction within a year.
Originally Published 2 years ago — by Fortune
The hotel industry has seen a decline in service quality as hotels have scaled back on housekeeping and other services during the pandemic. With labor shortages and rising labor costs, many hotels are reluctant to staff back up, resulting in dirtier rooms and reduced customer service. Some hotels have even made cleaning optional, offering perks in return for skipping housekeeping. While hotel occupancy has rebounded, employment levels have not kept pace, partly due to workers leaving the industry during the pandemic. Hotels are also facing higher costs and are looking to offset them by reducing labor expenses. As a result, customers are paying higher room rates but receiving less service.
Originally Published 2 years ago — by Fortune
Xochitl Mendez, a housekeeper at an MGM hotel in Las Vegas, reveals that guests are becoming increasingly angry about the lack of cleanliness in their rooms, often throwing things and shouting at the staff. The Culinary Union, representing 60,000 workers including housekeepers, laundry attendants, bartenders, and servers, has voted to authorize a strike over issues such as panic buttons, minimum staffing levels, higher pay, and mandatory daily housekeeping. The repeal of a law requiring daily room cleaning has raised safety concerns, as housekeepers have reported being attacked while alone on floors. The hotel industry's recovery and record-high room rates have sparked debate over the need for improved working conditions for employees.
Originally Published 2 years ago — by Yahoo Finance
Xochitl Mendez, a housekeeper at an MGM hotel in Las Vegas, has revealed that guests are becoming increasingly angry about the lack of cleanliness in their rooms, often throwing things and shouting at the staff. The debate over hotel-room cleaning has escalated to the point where the Culinary Union, representing 60,000 housekeepers, bartenders, and servers, has voted to authorize a work stoppage. Housekeepers are demanding panic buttons, minimum staffing levels, higher pay, and mandatory daily housekeeping in Vegas hotels. The hotel industry's recovery from the pandemic has raised questions about the need for support, as room rates have skyrocketed and profits have surged.
Originally Published 2 years ago — by The Points Guy
Country Garden, once the largest real estate developer in China, is facing financial difficulties with billions of dollars in losses and unpaid debt, raising concerns about a potential contagion effect on the global economy. Hilton and Accor have partnerships with Country Garden for hotel expansions in China, but both companies have remained tight-lipped about the impact of Country Garden's issues on their projects. While hotel companies are still interested in expanding in China, there is a growing focus on diversifying their portfolios to include destinations like Vietnam and India. Additionally, Chinese hotel companies are increasingly competing with Western counterparts, challenging the notion that they only operate in the budget segment of the market.
Originally Published 2 years ago — by The Points Guy
Marriott International reported a $726 million profit for the second quarter, driven by revived travel demand in China and the recovery of business and group travel in the US and Canada. While leisure travel to Europe and Asia has surged, the leisure business in Canada and the US remained unchanged. Luxury hotel performance in the US and Canada was down 1.4%, but this is attributed to the limited options for travel a year ago. Marriott does not plan to discount room rates as demand for business and international travel continues to recover. The company is also considering launching a midscale brand in Europe, the Middle East, and Africa. A major technology overhaul is also in the works, including new reservations and loyalty platforms.
Originally Published 2 years ago — by The New York Times
Extended-stay hotels are gaining popularity in the remote work era, attracting both business and leisure travelers. These hotels offer larger guest rooms that can accommodate work and relaxation, making them more appealing than traditional hotels. With the rise in remote work and infrastructure projects, extended-stay hotels are cheaper to build and operate, leading hotel companies like Hilton, Hyatt, and Marriott to expand their portfolios and introduce new brands. The shift to remote work and the need for cost-effective accommodations are driving the demand for extended-stay hotels, which are expected to benefit from long-term occupancy due to infrastructure investments.
Originally Published 2 years ago — by Bloomberg
A guest checked into a five-star hotel in Delhi for a single night but ended up staying for 603 nights, accumulating a bill of over INR 5.8 million ($71,000) before leaving without paying in January 2021. The guest's name is Ankush Dutta.