5 things to know: 10 November 2017
5 things to know: 10 November 2017
10 NOVEMBER 2017 10:49 AM

From the desks of the Hotel News Now editorial staff:

  • Report: Accor nixing independent distribution
  • Senate bill could delay corporate tax cut
  • Hurricanes top topic at CHICOS
  • Several hotel companies get high marks from HRC
  • Is Starwood Capital considering sale of brands?

Report: Accor nixing independent distribution: A new report from Reuters claims that AccorHotels is nixing its program that lets independent hotels list their properties on their booking site, claiming “the scheme had failed to meet expectations” set by company executives. 

A spokeswoman for the company told Reuters the plan is to “stop marketing independent hotels on (AccorHotels’) website by end-2017 as the results were mixed.”

The news agency reports only 2,000 independent hotels signed on for the program, well short of the company’s goal of 10,000 by 2018.

Senate bill could delay corporate tax cut: The U.S. Senate’s latest version of a long-promised tax reform bill includes a one-year delay in cutting the corporate tax rate, according to a report from The New York Times.

This bill differs from the House version, the newspaper notes. The House bill does not delay corporate tax cuts but eliminates several breaks popular with middle-class families. Major changes are expected for both bills before final passage.

Hurricanes top topic at CHICOS: In news that likely surprises no one, the recent hurricanes that swept through the Caribbean and southeastern U.S. drove the discussions at the first day of the Caribbean Hotel Investment Conference & Operations Summit in Hamilton, Bermuda, writes HNN’s Jeff Higley.

Hoteliers said there could be a silver lining emerging in which the wave of insurance money could act like a stimulus package.

“A lot of CapEx takes place, a lot of properties modernize and take advantage to fix things they haven’t had a chance to fix before,” said George Spence, principal with Leading Property Group, during his “Strategic context and development news” presentation. “It’s a time for rejuvenation in the industry.”

Several hotel companies get high marks from HRC: A dozen hotel, resort and casino companies made the list of the 2018 Best Places to Work for LGBTQ Equality from the Human Rights Campaign.

The companies included on this year’s list are:

• Borgata Hotel Casino & Spa
• Caesars Entertainment Corp.
• Choice Hotels International
• Hilton
• Hyatt Hotels Corporation
• InterContinental Hotels Group Americas
• Kimpton Hotel & Restaurant Group
• Marriott International
• MGM Resorts International
• The Cosmopolitan of Las Vegas
• Wyndham Worldwide
• Wynn Resorts

The distinction lauds companies based on their performance on the HRC’s Corporate Equality Index, which is “the national benchmarking tool on corporate policies and practices pertinent to lesbian, gay, bisexual, transgender and queer employees.” In all, 609 companies earned a 100% score on the index, which is required to be included on the Best Places to Work list.

Is Starwood Capital considering sale of brands?: The Times reports that Starwood Capital Group has “appointed advisers” to look into the possible sale of the Principal and De Vere brands, which the company values at “more than £1.2 billion” ($1.6 billion).

The company is reportedly looking at options ranging from refinancing to full disposal, according to the article.

Compiled by Sean McCracken.

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