Big hotel chains and unbranded-hotel owners find they need each other cyprus-mail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cyprus-mail.com Daily Mail and Mail on Sunday newspapers.
Big Hotel Chains and Unbranded-Hotel Owners Find They Need Each Other usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
Independent hotel operators and giant global chains are increasingly linking up in franchise agreements as high-interest rates have slammed the hospitality industry, slowing down new hotel construction. "Historically, global conversions have been 10% to 20% of the rooms entering the system, today it is probably closer to 40%," said Patrick Scholes, Truist equity analyst. For U.S.-based Marriott International, conversions in 2023 accounted for 40% of organic room signings, double the 20% rate a year earlier.
Big hotel chains and unbranded hotel owners find they need each other businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.