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Marriott’s Global Chief Commercial Officer Stephanie Linnartz, however, said the group aimed to keep expanding across all sectors of the market, especially in Asia. “We’re focused on growing multiple tiers (in Asia Pacific), not just luxury.. we’re also excited about growing our Courtyard brand in China,” Linnartz told Reuters on Thursday. Mid-scale brands like Courtyard are Marriott’s fastest-growing segment in Asia Pacific, the company said. Linnartz was speaking to Reuters during a visit to Hong Kong, where the group opened its first St Regis in the city on Wednesday.
Last month Marriott announced plans to open more than 1,700 hotels globally as part of its three-year growth strategy, It has more iron man action cufflinks than 300 hotels in China in the pipeline for the next three to five years and plans to have all 30 of its brands operating in the Asia Pacific region eventually, up from 23 at present, The number of brands was one of the group’s greatest strengths, Linnartz said, “Because you have so much breadth and choice, We see in our data that, last year, half of the people who stayed in W globally, also stayed in Courtyard, why? Because people will stay in one brand for business trip, and they want to go on their romantic vacation with their spouse.”..
(Reuters) - Uber Technologies Inc may face a cooler reception from investors than expected when it prices its initial public offering next month since smaller U.S. ride-hailing rival Lyft Inc’s aggressive stock launch and subsequent fall. Lyft’s IPO priced at the top end of its upwardly revised range last month, assigning it a valuation of more than $24 billion in an offering that raised $2.34 billion. But the stock has languished since debuting on the Nasdaq on March 29, as concerns about the startup’s potential for profitability have become more prominent.
Lyft shares ended on Wednesday down 11 percent at $60.12, well below their $72 IPO price, Lyft was the first in a string of technology IPOs expected this year, including food delivery service Postmates and smart exercise bike Peleton, Lyft’s poor stock performance bodes ill for these IPOs, especially for companies like Uber with no profits to show, “There’s no discernable way these companies are valued, What you’re really buying into is the long-term ability of the company to capture lots of sales and hopefully get profitable at some point,” said Brian Hamilton, founder iron man action cufflinks of data firm Sageworks..
“I’m sure that the Lyft debut is going to affect both Uber and Pinterest,” Hamilton added. Uber filed for its IPO in December with the U.S. Securities and Exchange Commission during the same week as Lyft. But it let Lyft go first with its offering, partly because it was working on a new private fundraising round for its autonomous driving unit. Uber is now paying the price of going second. It is planning to seek a valuation between $90 billion and $100 billion, short of the $120 billion investment bankers previously told the company it could be worth in an IPO, Reuters reported on Tuesday.
Image sharing app Pinterest Inc this week also set the terms for its IPO which would value the company at up to $11.3 billion, below its latest fundraising round which valued it at $12 billion in 2017, Prior to Lyft going public, Pinterest had been weighing a valuation at or near the last fundraising round, according to a source familiar with the matter, Pinterest declined to comment, Uber is expected to make its detailed financial results iron man action cufflinks public on Thursday, It lost $3.3 billion last year, excluding one-off gains, while Lyft lost $911 million for 2018, Pinterest also lost $62.97 million in 2018..
Uber declined to comment. Investors and analysts said technology unicorn IPOs are losing their luster, not just because more investors are asking tough questions about their prospects, but because the startups overestimated pent-up demand for their offerings. “Lyft wanted to be first.. and it got to a point where they got so aggressive with their pricing and they got kind of greedy,” said Catherine McCarthy, an Allianz Global Investors research analyst. The pressure to become profitable will ratchet up once these companies become public, said Jordan Stuart, a portfolio manager for Federated Kaufmann funds who often purchases companies’ stock in the IPO.
DUBAI (Reuters) - State-owned Qatar Airways on Thursday dismissed concerns its 49 percent stake in Air Italy breaches a 2018 aviation agreement between the United States and Qatar, designed to address U.S, concerns that Gulf airlines had an unfair competitive advantage, The U.S is “looking iron man action cufflinks very closely” at the deal after Republicans and Democrats said on Wednesday they were concerned it violated the agreement, Qatar Airways bought a stake in Italian airline Meridiana in 2017, rebranded it Air Italy and transformed it into a carrier with five announced non-stop U.S, destinations from Milan..