Marriott

Marriott Returns to Profitability in Q3

Marriott Returns to Profitability in Q3

Marriott International announced financial results for the third quarter of 2020.
The world’s largest hotel operator posted a $100 million profit for the period on revenue of $252 million after posting its second-largest quarterly loss in second quarter amidst the coronavirus pandemic.
“While COVID-19 is still significantly impacting our business, our results for the third quarter showed continued improvement in demand trends around the world,” said Arne Sorensen, the company’s CEO.
The hotelier …

Marriott Intros Day Pass and Stay Pass as Work-from-Home Alternatives

Marriott Intros Day Pass and Stay Pass as Work-from-Home Alternatives

Marriott International announced two programs for telecommuters, Day Pass and Stay Pass, as well as a third program, Play Pass, for those workers who just need a break amidst the pandemic-induced changes in work patterns.
“Working remotely doesn’t necessarily have to mean working from home, where blurred lines between personal and professional lives can create distractions and stress,” said Stephanie Linnartz, who leads consumer strategy at the hotelier.
The Day Pass offering …

Marriott to Open Tokyo Edition Hotel Later This Month

Marriott to Open Tokyo Edition Hotel Later This Month

Marriott International announced the opening of the Tokyo Edition, Toranomon, which will take place on October 20, 2020.
The Tokyo Edition, Toranomon is the result of collaboration between Marriott, hotelier Ian Schrager, and the Mori Trust.  It is located in the Tokyo World Gate building, a 38-story mixed-use skyscraper, and occupies floors 31-36.
“We wanted to do something that embodies the traditions of Japan, but also looks forward with design and visuals,” …

Marriott ‘Week of Wonders’ Promotion Promises Guests Discovery and Inspiration

Marriott ‘Week of Wonders’ Promotion Promises Guests Discovery and Inspiration

Marriott International’s guest loyalty program, Bonvoy, announced its “Week of Wonders” promotion.
Each day, the program will feature a different “Wonder,” the hotelier said.  The themes that the wonders will cover will include rejuvenation, comfort, discovery, inspiration, and delights, it said.
“We are all yearning for the time when we can again freely travel and explore the world,” said David Flueck, the company’s senior vice president for loyalty, noting the impact the coronavirus pandemic …

Marriott East Side, Once One of the City’s Tallest Hotels, Won’t Be Reopening

The storied Marriott East Side hotel, which first opened its doors to guests in as the Shelton Towers in 1924, won’t be reopening and the location, at 525 Lexington Avenue in Manhattan, may not necessarily remain a hotel in the future.
The property closed temporarily in March along with hundreds of others amidst the outbreak of the coronavirus pandemic.
The Romanesque Revival structure was designed by Arthur Loomis Harmon and the hotel’s …

Marriott Loses 122 Properties in $11 Million Default on Payments

Marriott Loses 122 Properties in $11 Million Default on Payments

Marriott International lost 122 properties after defaulting on payments of over $11 million to Service Properties Trust, which owns the hotels. The hotelier’s failure to pay the shortfall triggered SVC’s termination rights, the company said on Wednesday.
This is the second major hotel default reported amidst the coronavirus pandemic.
The world’s largest hotel chain will see nine Marriott branded properties reflagged as Sonesta hotels on December 15, 2020, and 89 properties in …

Marriott to Lose Over 100 Properties in Default

Marriott to Lose Over 100 Properties in Default

Marriott International stands to lose over 100 properties come November, in second major hotel default reported amidst the coronavirus pandemic.  The world’s largest hotel chain owes Service Properties Trust, which owns the hotels, over $11 million.
“Marriott failed to meet the termination threshold of 80% of owner’s priority return through August,” the company said in a statement. A “failure to pay the shortfall will trigger SVC’s termination rights.”
The move comes on …