|Bid||5,009.00 x 0|
|Ask||5,012.00 x 0|
|Day's Range||4,981.00 - 5,052.00|
|52 Week Range||4,052.63 - 5,770.00|
|Beta (3Y Monthly)||1.00|
|PE Ratio (TTM)||21.72|
|Forward Dividend & Yield||0.93 (1.84%)|
|1y Target Est||N/A|
The UK’s Competition and Markets Authority back in February managed to get a handful of brands owned by Expedia Group and Booking Holdings to change how they displayed information to consumers searching for accommodation online. Essentially it was concerned about hate-selling through techniques such as hidden charges, and ordered them to sort it out. The […]
(Bloomberg Opinion) -- Britain’s Prince Harry is urging tourists to be more eco-friendly – while at the same time flitting across Europe by private jet. It’s hardly the only contradiction in the travel industry’s drive to become more sustainable.The world’s largest hotel chains house as many people each day as a decent-sized city, making them a big source of pollution and waste. Directly, hotels account for about 1% of global carbon-dioxide emissions – although that estimate doesn’t include the hydrocarbon-burning flights and car journeys guests make as they come and go. All-in, tourism’s contribution to man-made emissions could be as much as 8% of the total.As with overcrowding at the world’s most popular tourist attractions, this massive environmental footprint is giving the hotel industry a bad name. Along with energy, food and water, hotels are gargantuan consumers of plastics.Hoteliers’ efforts to kick this particular dirty habit have been capturing headlines lately: Marriott International Inc. and InterContinental Hotels Group Plc have both promised to eliminate plastic shampoo and shower gel miniatures, which should prevent several hundred million small bottles being dumped in landfill annually. (They are, however, trusting you not to steal their new, bulk-sized refillable containers.)Drinking straws, cocktail picks, door key cards, slipper-cellophane, disposable cutlery and water bottles are all in the cross-hairs of the hotel industry’s growing anti-plastics drive. At the margins, these interventions should also help to cut the huge amount of plastic waste that ends up in the oceans and these policies should be relatively simple to implement – unlike the plastics challenge facing supermarkets, for example. But these eye-catching ecological measures have, rightly, prompted accusations of tokenism.If I take three connecting flights to reach my villa in the Maldives, crank up the air conditioning on arrival and then eat filet mignon for dinner, forgoing a plastic stirrer in my margarita and my haul of free plastic miniatures isn’t going to matter a hoot, is it?This isn’t a laughing matter: The tourism industry will be the first to suffer if we don’t change. Coral reefs are being bleached and beaches ruined by plastic detritus and foul-smelling, fertilizer-fueled seaweed blooms. This week, parts of the Bahamas have been devastated by a hurricane whose destructive power was likely magnified by warmer oceans.In fairness, most big hotel groups are making pretty comprehensive efforts to consume fewer resources and cut carbon pollution. Marriott’s promise to cut the amount of waste going to landfill by 45% by 2025 isn’t to be sneezed at when you consider it has 1.3 million rooms worldwide.Resource efficiency is also plain good business sense: the signs asking you to kindly reuse your towels help to cut the hotel’s utility bill as well as its electricity consumption.Hotels know they cannot afford to look lax on these issues. Customers – particularly corporate ones – are considering sustainability issues when purchasing trips and online booking platforms are making it easier to tell environmental saints from sinners. Competitors like home-sharing site Airbnb have been talking up the environmental benefits of staying in someone’s home instead of a large hotel, putting the industry even more on the defensive.Many large hotel chains already provide an impressive level of disclosure about their environmental impact and some use market-based incentives to help ensure sustainability promises are kept.When AccorHotels signed a new 1.2 billion-euro ($1.3 billion) credit facility with a consortium of banks, it linked the interest rate to its compliance with sustainability goals. Marriott offers guests extra loyalty points if they forgo having their rooms cleaned, not that its housekeepers are happy about this. Unfortunately, though, the industry’s rapid growth risks overwhelming the benefit derived from these hard-won efficiency gains.Hilton has achieved an impressive one-third cut in carbon emissions per square meter since 2008 and it plans to extend that to a 61% reduction by 2030. But its absolute emissions have jumped by one fifth over the past decade because the company added thousands of hotels to its portfolio – it opened one a day last year.So what can be done? Plastic bans make for good headlines, but hotels should focus on reducing their most environmentally damaging activities.Heating, ventilation and air conditioning account for up to 45% of hotel energy consumption, according to AccorHotels, so installing the most efficient technology and switching to carbon-free energy sources would seem a sensible priority.That’s easier said than done. The Sheraton Stockholm Hotel boasts that its power is supplied entirely by clean hydroelectricity, but its counterparts in nearby Poland, where coal accounts for 80 percent of power production, have fewer options. Hence, the industry is increasingly choosing to produce its own renewable energy on-site.Of course, the easiest way for the business to clean up is act is also the most unpalatable: open fewer hotels, especially in far-flung destinations only accessible by plane.Getting the balance right is difficult. Hotels provide lots of jobs in poor countries. Still, from an environmental standpoint, video conferencing and staycations are better than hopping on a jet. Similarly, a tent is superior to an air-conditioned luxury hotel room, as Richard Clarke at Bernstein Research points out. But wait for hotels to cap their growth or consumers to voluntarily forgo the comfort of a hotel bed and you’ll be waiting a long time. Higher taxes that penalize the negative consequences of travel may become unavoidable. For now, “sustainable travel” is too often a contradiction in terms. To contact the authors of this story: Chris Bryant at email@example.comAndrea Felsted at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Hurricane Dorian took its deadly toll on the Bahamas earlier this week and continued up the U.S. coast in a weakened state on Friday. The storm has left the islands of The Abacos and Grand Bahama destroyed, and will force an economy that relies on tourism for roughly 50 percent of of its gross domestic […]
The entrance to the Georgia World Congress Center is expected to get a major overhaul. HGOR has worked on some of metro Atlanta's most prominent greenspaces, including The Battery Atlanta, The Coca-Cola Co. headquarters, Pinewood Forest, and the forthcoming Westside Park at Bellwood Quarry. The upgrades would span the segment from Marietta Street to Centennial Olympic Park Drive, a heavily trafficked corridor, especially during sports events and large conventions.
The plan is to transform the 12-story tower on Peachtree, which was originally built as a medical high-rise, into a 160-key boutique hotel.
It has been just four months since Amsterdam-based citizenM broke ground on its Union Square hotel development, but already it's moving quickly to expand its Bay Area reach. The Dutch hotelier — a newcomer to the region — is putting together plans for two additional sites in the Bay Area as part of an aggressive push into the United States. At the southwestern corner of Folsom and Sixth streets, citizenM is in the early planning stages for a 218-room SoMa hotel, plus another on the outskirts of San Francisco.
Perhaps the most damaging fallout from such symbolic initiatives is that they distract from actions that can make a real environmental difference.
InterContinental Hotels Group PLC (LON:IHG) is about to trade ex-dividend in the next 3 days. Investors can purchase...
A prominent Triad developer has sold a new downtown hotel before it's opened. Commercial Realty Advisors of Winston-Salem, headed by John Reece II, and Clarendon Properties of Wilmington, sold the Courtyard by Marriott (NASDAQ: MAR) at 640 W. Fourth St., Winston-Salem for $8.48 million. The buyer was Virtua Partners, an Arizona-based, private-equity real-estate firm.
The big hotel companies love brands. They love buying them, and they love creating them. It enables them to grow market share by cornering new parts of the market that their existing brands supposedly don't cover, and the luxury segment remains an important battleground. In their own way, each of the leading hotel companies that […]
Some of the world's largest hotel brands are betting big on an Nashville tech startup founded by former Gaylord Entertainment executives. Groups360 has closed on a $50 million investment by hospitality companies Accor, Hilton, InterContinental Hotels Group and Marriott International, the company announced Monday As a result of the deal, each investor will receive a seat on Groups360’s board of directors, according to a news release. Groups360, which helps large groups find and book hotel rooms and event space, lists more than 170,000 hotels in 225 countries on its platform.
Just over a year has passed since NexPoint Advisors, an affiliate of Highland Capital Management, purchased Cityplace Tower with plans to add retail, restaurants and other tenant and visitor amenities to the 42-story building.
IHG appears to have called time on its most recent expansion blitz, which has seen it add five new brands over the last two years. CEO Keith Barr didn't entirely rule out buying or launching new brands in the future but it sounds like he is pretty content with the progress the company has made […]The post IHG CEO Draws Line Under Latest Brand Growth Strategy appeared first on Skift.
With the purchase, Vanderbilt more than doubled the amount of money it's spent on Midtown land in the past five years.
Based on InterContinental Hotels Group PLC's (LON:IHG) earnings update in December 2018, analyst consensus outlook...
An Aloft hotel is planned for a new mixed-use project in Sandy Springs. A joint venture of Childress Klein and MidCity Real Estate Partners sold a 0.65-acre site for the 140-key hotel at its NorthPlace development. It’s planned at Barfield Road and Mount Vernon Highway, near the headquarters of Mercedes-Benz U.S. and the Sandy Springs MARTA station.
The main portion of the two-building Holiday Inn Fisherman's Wharf closed last September, leaving a 342-room hole in one of San Francisco's most popular tourist destinations.
InterContinental Hotels Group announced plans to replace its single-use plastic toiletry bottles with “bulk-size amenities” by 2021 globally, in an effort to curb plastic waste. Plastic awareness has gained serious momentum in the last couple of years, but IHG CEO Keith Barr sees the real pressure coming from guests, not new government legislation. “Governments collectively […]The post IHG CEO: Guests Are Pressuring Hotels to Reduce Plastics, Not Governments appeared first on Skift.
IHG is saying goodbye to mini shampoos, conditioners and soaps. The global hotel chain, which has its Americas headquarters in Atlanta, said Tuesday it will phase out bathroom miniatures, switching to bulk-size products instead.