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Article - Big Hotel Chains and Unbranded-Hotel Owners Find They Need Each Other - Reuters - 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.
Rising loan rates have hit the hospitality sector hard and slowed down the building of new hotels. As a result, independent hotel operators and giant...
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.
NEW YORK: Independent hotel operators and giant global chains are increasingly linking up in franchise agreements as...
Independent hotel operators and giant global chains are increasingly linking up in franchise agreements as high-interest rates have slammed the hospitality indu...