By Alexander Soule
Shared from The Stamford Advocate, Conn.
Nov. 18--As Marriott International works to complete its $12.2 billion acquisition of Starwood Hotels, its CEO said he would move aggressively to "cull the bottom end" of Starwood's Sheraton brand if hotel owners fail to maintain base standards under the Marriott flag.
The acquisition of Stamford-based Starwood (NYSE: HOT) would make Marriott (Nasdaq: MAR) the world's largest hotel company with some 1.1 million rooms. With Sheraton alone having more than 137,000 rooms globally, the brand would have significant heft under Marriott, with about 13 percent of the combined company's room count.
Courtesy International Meetings Review
According to the American Express Meetings & Events 2016 Global Meetings Forecast, positive economic trends combined with the global expansion of companies will drive continued growth for the meetings industry in 2016. Across all regions, the number of training and internal meetings is expected to experience high levels of growth as companies continue to invest in bringing their employees together for face-to-face meetings.
U.S. Travel Association President and CEO Roger Dow yesterday released the following statement applauding the passage of H.R.3614, the Airport and Airway Extension Act, which continues funding for the Federal Aviation Authority (FAA) through March 31, 2016:
A federal government shutdown would cost the U.S. travel sector at least $185 million per day in economic output due to lost activity and affect 530,000 travel-related jobs due to temporary layoffs, reduced wages and fewer hours worked, economists at the U.S. Travel Association project.
The U.S. Travel projection encompasses the closure of national parks and historic sites—upon which many regional economies greatly depend—and also the cancellation of both government travel and private business travel related to government projects.
Real spending (output) on travel and tourism accelerated in the second quarter of 2015, increasing at an annual rate of 6.5 percent after increasing 2.2 percent (revised) in the first quarter of 2015. Real gross domestic product (GDP) also accelerated, increasing 3.7 percent (second estimate) in the second quarter after increasing 0.6 percent.
The American Hotel & Lodging Association (AH&LA), the sole national association representing all segments of the 1.8 million-employee lodging industry, applauded bicameral legislation introduced with the aim of restoring the time-tested, appropriate legal definition of joint employer in order to protect the success of small businesses across the country. The “Protecting Local Business Opportunity Act” (S. 2015 and H.R. 3459) reestablishes a simple definition of joint employers, which is currently the model guiding the franchisee/franchisor relationship under the National Labor Relations Act (NLRA). The legislation serves as an immediate response to the National Labor Relations Board’s (NLRB) Browning-Ferris Industries of California ruling that significantly expanded the joint employer definition. The legislation was introduced in both chambers by Senate Committee on Health, Education, Labor and Pensions Chairman Lamar Alexander (TN) and House Education and the Workforce Committee Chairman John Kline (MN-2).