Choice Hotels posted its highest quarterly revenue ever and still missed earnings estimates by double digits, which tells you everything about where the money is actually going in a franchise-driven model. The CEO departure three weeks later wasn't a coincidence... it was punctuation.
Marriott just added its 39th brand with a luxury wellness resort joint venture, and the "capture every travel wallet" strategy sounds brilliant in a boardroom. The question is whether anyone at property level can articulate why a guest should choose brand 27 over brand 31... and what happens to your owner's fee load when they can't.
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