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Hotel consolidation tightens chains' hold on Hawaii. (Destinations).

Publication: Business Travel News
Publication Date: 10-FEB-03 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Marriott International last month added established hotels in Maui and the Big Island of Hawaii to its local portfolio through a franchise agreement with the hotels' owner, Outrigger Enterprises. In another transaction by a global hotel company--an outright purchase in this case--Fairmont Hotels and Resorts in December acquired another upscale hotel on the Big Island and converted it to the Fairmont brand.

The dual transactions represent a larger trend. Due to the continuing weak economy and decrease in travel, many hotel owners are eager to divest hotels to take out the underlying value...



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