M&C hires from within

    Millennium & Copthorne Hotels has ended its year-long search for a replacement for Richard Hartman, by appointing Wong Hong Ren as CEO with immediate effect. The conclusion to the group’s protracted CEO hunt is thought to be further evidence of chairman Kwek Leng Beng’s control over the group, which has suffered a rapid turnover of [...]

    Marriott gets distance from timeshare

    Marriott International announced that it was getting closer to spinning off its timeshare business, which will be named Marriott Vacations Worldwide. The unit is expected to become the world's biggest stand-alone timeshare business, at a time when the offering continues to suffer across the hotel sector. For Marriott, the group said that the split would [...]

    Menzies MBO sees shift of banks’ mood

    Since the beginning of this year, banks have been indicating that the era of ‘pretend and extend’ was over and the era of justify and comply was on the way in. In the case of lenders such as Lloyds Banking Group, a wholesale review of much of its hotel holdings has seen much of them [...]