San Francisco-based Flynn Properties Inc. is doubling down on in its investment in select-service and extended stay hotels as part of a $1.1 billion deal announced on Monday.
The exact total of the joint-venture's investment was not disclosed, but the total implied enterprise value of the transaction is $1.1 billion, the companies said. "The power of the loyalty programs at Marriott and Hilton should not be underestimated," he said, describing how guests will often use the points garnered from corporate stays toward leisure trips later."Travelers make their decisions based on those programs and will not stay outside of them."
"This keeps Highgate in with a meaningful portion of the deal for a meaningful amount of time," Flynn said regarding the deal's"complicated" structure.""I'm very happy with the partnership right now. We can learn a lot from them."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Where California ranks among the top states for legal cannabis sales - San Francisco Business TimesU.S. cannabis sales hit an estimated $21 billion in 2021. Here's how those dollars shook out state by state.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Glassdoor, Indeed paint stark picture of hiring problems, labor shortage - San Francisco Business TimesCompanies will need to switch tactics if they want to hire and retain workers in 2023. Here are some factors that will shape the hiring market — and how employers should respond.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
S.F. investor acquires 89 hotels in $1.1 billion deal - San Francisco Business TimesAn affiliate of the world's largest restaurant franchise is quickly scaling its investment in hotels.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Robinhood's 120K-square-foot Denver office space hits sublease market - San Francisco Business TimesIn 2019, Robinhood announced its plans to come to Denver and hire about 800 people. It never moved into its new office.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Autonomous delivery vehicle maker Nuro cutting 20% of its staff - San Francisco Business TimesThe company's founders said they made a 'mistake' by doubling its staff in less than two years, thinking the easy funding environment would continue.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »
Madison Park will move forward with Golden Gate Plaza in downtown Lafayette - San Francisco Business TimesA new project poised to start in Lafayette would be one of the city's first new construction rental projects in decades.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »