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Anyone surprised that they'd eventually be profitable? Being the largest hospitality company in the world without holding any assets ... how could anybody ever
by shaqbert 10y ago
Anyone surprised that they'd eventually be profitable? Being the largest hospitality company in the world without holding any assets ... how could anybody ever have been doubting in the first place.
The real question is rather if they are leaving growth opportunities behind if they are profitable too early. Still a lot of lobbying to be done.
- nnd 10y agoMost of the largest brands in hospitality don't own their assets either, and operate a franchise instead.
- edblarney 10y agoEven the one's that don't operate as franchises still don't own the properties. Most of Four Seasons, Fairmont etc. - the actual properties are owned by sovereign wealth funds etc. - think Saudis who need to park huge reams of cash somewhere and sit on it.