Ocean Link, Delonix to Invest in Japan's Hotel MONday Chain [BNN Bloomberg (Canada)]
Marriott International - Class A (MAR)
Last marriott international - class a earnings: 2/26 04:30 pm
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Source: BNN Bloomberg
The equity investment gives them a stake in an operator of 24 properties in key tourist destinations in Tokyo, Kyoto and Osaka under the Hotel MONday and other brands, according to a statement on Monday. The deal will also help to improve the chain's information technology systems and use Delonix's growing membership base and industry know-how. The investment follows a recent recovery of the tourism industry in Japan, which welcomed 25 million tourists in 2023, the largest number since 2019. A weak yen has helped attract post-pandemic visitors in a boost to the nation's fragile economy. Ocean Link focuses on the travel, consumer, media and technology sectors. It led the privatization of Kaiyuan Hotels in 2021 and is the founding investor of Delonix. Delonix operates a portfolio of 10 core hotel brands including Grand New Century, Ruby and Manju. It counts 1,400 hotels in operation and in its development pipeline across more than 200 cities in Asia. Its Betterwood loyalty progra
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MAR
Earnings
- 2/13/24 - Beat
MAR
Sec Filings
- 4/1/24 - Form 4
- 4/1/24 - Form 4
- 3/29/24 - Form 4
- MAR's page on the SEC website