Marriott profit falls in Q4: Marriott International said profit dropped 17% during the period from October 1 through December 31, 2013, while revenue fell 14%.
Read more at the Washington Post
Accor posts profit for 2013: The company said it achieved a 5.3% like-for-like rise in full-year operating profit driven by robust demand in Europe and in emerging markets.
Andaz to enter Bali: a Hyatt affiliate has entered into a management agreement with P.T. Wynncor Bali for a 144-room Andaz resort in Bali, Indonesia, set to open in 2016.
Starwood’s Luxury Collection to grow in South Korea: The Parnas, A Luxury Collection Hotel, is expected to open in Seoul in 2016.
TUI shares to be sold: TUI’s second-largest investor, John Fredriksen, plans to sell 15.7% of his shares in the companyto executive board members Friedrich Joussen and Horst Baier, Spanish hotel chain RIU Group and other institutional investors.