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Stock impact report

Southern California hotel workers ratify new contracts, ending strikes for some [Yahoo! Finance]

Hyatt Hotels Corporation Class A (H) 
Last hyatt hotels corporation class a earnings: 2/19 04:30 pm Check Earnings Report
Company Research Source: Yahoo! Finance
high-end properties, voted this weekend to approve new contracts that deliver higher wages for thousands of housekeepers, cooks and other workers. The deal brings a partial end to the long-running labor dispute that has roiled the local hotel industry since last summer, when workers at about 60 hotels launched a strategy of intermittent strikes to protest wages and work conditions. The contracts approved this weekend cover only 34 of those hotels. The overwhelming approval of the four-year agreements — 98% of votes were in favor of them — was announced Monday by Unite Here Local 11, the union representing the workers. The contracts, which cover luxury hotels such as the Beverly Hilton and the Waldorf Astoria, include an almost immediate raise of $5 per hour for workers who don't typically earn tips including front desk clerks, dishwashers and hotel housekeepers. Those workers will see a total hourly wage boost of $10 over the course of the contract that expires in January 2028. Show less Read more
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