Corina Duma

💵 Marriott International reported a 25% increase in net income to $728 million for Q3 ending on 30 September. Operating income rose to $1.18 billion while adjusted EBITDA increased 10% to $1.35 billion. Global RevPAR grew by 0.5%, with luxury hotels seeing a 4% increase. Marriott added 17,900 net rooms, reaching over 9,700 properties and 1.75M rooms globally. The development pipeline includes 3,923 properties with 596,000 rooms, mostly outside the US and Canada.

📍 South Korean hospitality group Sono International is set to acquire Cross Hotels and Resorts from Flight Centre Travel Group. Cross manages 28 hotels in Thailand, Indonesia, Vietnam, and Japan. This acquisition merges Cross's lifestyle and luxury focus with Sono's regional travel expertise. The alliance aims to innovate and expand further, maintaining Cross's Bangkok headquarters. Chief Executive Harry Thaliwal emphasizes the partnership's potential for sustainable growth and enhanced offerings across key markets.

📍 Coventry and Warwickshire launched a Hotel and Accommodation General Manager Network to support local hotels. Over 30 hospitality representatives attended the initial meeting at Hotel Indigo Coventry. The network addresses sector challenges, market data, and joint promotion efforts. Michael Lyons of Castlebridge Hospitality chairs it, emphasizing collaboration. Paul McMahon of Destination Coventry supports the initiative for regional growth. The inaugural gathering discussed shared buying power and challenges like food pricing and new technology.