{ }
Symbol MAR
Name Marriott International, Inc.
Currency USD
Sector Consumer Discretionary
IndustryGroup Consumer Services
Industry Hotels, Restaurants & Leisure
Market NASDAQ Global Select
Country United States
State MD
City Bethesda
Zipcode 20817
Website http://www.marriott.com
Adobe has partnered with Amazon Web Services to enhance AI-driven customer experiences, integrating its Experience Platform into AWS. This collaboration allows enterprises to leverage customer data stored in AWS for real-time personalization, significantly reducing complexity and latency in data management. Major brands like Coca-Cola and Marriott are among the early adopters, with the full solution expected to be available in 2025.
Marriott International's CEO Anthony Capuano reported solid business performance despite recent layoffs of over 800 corporate employees, attributing growth to a strong return of group travel and record hotel signings in China. The company anticipates continued recovery in domestic tourism and inbound travel, with a focus on decentralized decision-making to enhance efficiency. Marriott's loyalty program has expanded to 219 million members, and the company plans to open more hotels in Japan, including a new Four Points Flex by Sheraton.
Marriott International, Inc. operates 8,785 hotels and residences, totaling 1,513,926 rooms across various brands, with 79.9% of net sales from the U.S. and Canada. The portfolio includes franchised (6,563 hotels), managed (2,046), owned and leased (50), and residential hotels (113), while also expanding into real estate development.
Billionaire Tilman Fertitta has increased his stake in Wynn Resorts to 9.9%, becoming the largest individual shareholder, as the company's stock rose 9% following the news. Despite a long history of volatility, Wynn's stock has gained roughly 57% over the past two decades, significantly lagging behind competitors like Marriott and Hilton. Fertitta, who also owns the Houston Rockets and several Golden Nugget casinos, is planning a new casino resort on the Las Vegas Strip while Wynn faces scrutiny over its performance and future development plans.
This week, five of the Magnificent Seven stocks are set to release earnings, amid mixed performance and a need for clarity on growth outlooks to justify high valuations. In the US, October non-farm payrolls are expected to show a moderation in job growth, influenced by temporary factors like hurricanes and strikes, while the Fed may proceed cautiously with rate cuts in response to recent economic surprises and inflation concerns. The S&P 500 remains close to its record high, with market participants awaiting key events, although sector performance has been affected by de-risking ahead of the US elections.
IG
This week, five of the Magnificent Seven stocks are set to release earnings, amid mixed performance and high valuations. The upcoming US job report is expected to show a moderation in job growth, influenced by temporary factors like hurricanes and strikes, which may affect the Fed's policy outlook. The S&P 500 remains close to its record high, with market participants awaiting key risk events, while sector performance has been impacted by corporate earnings and de-risking ahead of the US elections.
IG
Southwest Airlines Co. has appointed six new board directors as part of a deal with Elliott Investment Management, aimed at addressing the activist's demands and supporting the CEO's position. The new members, effective November 1, include former Chevron CFO Pierre Breber, ex-Virgin America CEO David Cush, and former federal railroad administrator Sarah Feinberg, among others.
VPBank is offering exclusive culinary experiences at Michelin-starred restaurants in Vietnam, providing discounts of up to 50% for customers using VPBanque credit cards. This promotion, running until December 31, 2024, includes over 28 participating restaurants and additional benefits at duty-free stores across Asia. Customers can also enjoy various incentives for spending in sectors like supermarkets and travel, enhancing their overall experience with the bank's services.

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