As travel picks up, Marriott International posted a third-quarter profit of $83 million, up from a loss of $466 million in the year-ago quarter. But shares are down after the company forecast that fourth-quarter earnings might be less than analysts expect.
Undercover Boss starts its second season with a glimpse under the sheets at Choice Hotels, one of the world's largest hospitality firms. President and CEO Stephen P. Joyce gets to experience tougher side of the hotel business, as he scrubs a pool, makes beds and straightens up a few of the company's estimated 490,000 rooms.
Ritz-Carlton will introduce a loyalty rewards program in response to declining room rates in the luxury hotel industry.
Hotel chain Marriott beat Wall Street expectations, turning in a 31 cent earnings-per-share increase and a 42% rise in net income for the second quarter. The strong results reflect a travel rebound supporting firmer rates and occupancy.
After decades as a must-dine spot for tourists and a must-book location for benefits and parties, New York's famous Tavern on the Green will serve its last meal on New Year's Eve.