financetom
Business
financetom
/
Business
/
What's Going On With Hilton, Marriott And Hyatt Hotel Stocks Today?
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
What's Going On With Hilton, Marriott And Hyatt Hotel Stocks Today?
Jul 24, 2024 8:06 AM

Shares of Marriott International Inc ( MAR ) , Hilton Hotels Corporation , and Hyatt Hotels Corporation ( H ) are trading lower Wednesday.

About 13,500 unionized hotel workers in four U.S. cities are preparing for strike authorization votes next month as contract negotiations with the above major hotels remain at an impasse.

UNITE HERE, a union representing hotel, casino, and airport workers across the U.S. and Canada, said that the voting will commence in the first week of August in Boston, San Francisco, Honolulu, and Providence, Rhode Island, reported Reuters.

Employees at 125 hotels in these cities are demanding significant pay raises in new contracts to replace those that have expired or will soon expire.

They also seek improvements in healthcare and pension plans and are pushing for the reversal of pandemic-era cuts such as daily room cleaning.

Also Read: Hyatt Eyes Standard International To Expand Luxury Portfolio: Report

“Frankly, we were insulted with what they came to the table with,” said Carlos Aramayo, President of UNITE HERE Local 26 in Boston. “We are very, very far apart from an agreement.”

A further 26,500 hospitality workers in 16 U.S. cities represented by UNITE HERE are also negotiating new contracts.

A spokesperson from Hyatt expressed disappointment that several UNITE HERE locals have opted to take strike votes, but assured that contingency plans are in place to maintain hotel operations if a strike occurs.

Hilton emphasized its cooperative and productive relationship with the union.

Price Action: HLT shares are trading lower by 2.12% at $216.03 at last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved