Author: theparknews

Photo Credit: Accor Accor reported an 11% increase in revenue for 2024 on Thursday. This is a jump that came mostly from its luxury division. The company’s luxury and lifestyle segment has risen by 19%, and has more than tripled the 5% growth rate of mainstream businesses. The Paris-based hotel operator also said it is expanding in high-growth markets, including South America, China, India and the Middle East. The board asked group CEO Sebastian Bazin to remain in his role until he reached the company’s 65-year-old forced retirement age in late 2027. Prior to Thursday’s revenue results, Skift spoke with…

William Moody and Thomas Anderson of Washington Fine Properties, compass “Robert Lefkin and Washington Fine Properties” Dana Laundry and Mark Chapelle (Washington Fine Properties, Compass, Getty) Compass is now the country’s capital and is continuing a series of acquisitions with another domestic company. The company has announced a contract with Washington Fine Properties, a Washington D.C.-based brokerage firm. According to RealTrends, the 150 Agent luxury brand was the fourth-ranked broker in the DC area in 2023. Sales volume was $2.2 billion, with an average selling price of $1.6 million. Washington Fine Properties continues to maintain its branding and operates under…

Luxury retailer Saks has warned its suppliers about late payments. To clarify the repayment plan, Saks issued a Valentine’s Day memo.The memo was first reported by the Wall Street Journal (WSJ) on Friday (February 14th). It was promised If a new order is paid within 80 days of receipt, your outstanding balance will be covered in 12 monthly installments starting in July.Marc Metrick, CEO of Saks Global, expressed his sympathy for suppliers affected by excessive payments during the pandemic, saying: So I look forward to seeing the flow of products return to normal levels. ” The memo is filing a…

©Lexus Resignation should mean living without financial concerns, so rather than chasing yet another car purchase, you can experience a new phase of your life. Unfortunately, considering rising costs and endless options, it is extremely difficult to find a luxurious SUV that combines comfort, reliability and smart financial planning. Explore more: 4 SUVs to buy in 2025 continue to retire For You: 4 Low-Risk Ways to Building Savings in 2025 According to expert advice, to make things easier, Gobankrates simplified the search by selecting six used luxury SUVs that meet the criteria of luxury and practicality. These vehicles offer luxurious…

(Bloomberg) – Deepseek’s breakthrough in artificial intelligence has helped to drive stock fund rotation from India back to China. Most of them read from Bloomberg Hedge funds are piling up on Chinese stocks at the fastest pace in months as the bullishness of deep-sec-driven technology rally raises hopes for more economic stimulation. In contrast, India is struggling with record-breaking cash departures over concerns over slowing macro growth and slowing corporate revenues and expensive stock valuations. China’s land and offshore stock markets have added a total of more than $1.3 trillion in the past month amid such reallocation, while India’s market…

LVMH, Kering, Burberry and Moncler were hit hard after pouring money on Chinese consumers who are turning their backs on luxury. They are now choosing to spend their money in a new way. Chinese consumers were once the crown jewels of luxury brand customers. However, fashion houses like LVMH and Kering have become favorable to the country’s wealthy elite. Just a few years ago, China was a beloved of luxury spending. From 2017 to 2021, the domestic luxury market tripled. Shoppers are obsessed with prominent consumption, and China has become a new focus for fashion conglomerates, hoping to enjoy its…

If you look at Hermès’ 2024 results, you’ll wonder if it works in another sector. Birkinmakers have a source of growth that goes against the market when many of their gorgeous peers struggled. It may be too early to read tea leaves, but they have recently shown signs of improvement. Hermes reported revenues increased by 15% in 2024, with certain currency rising to 15.2 billion euros ($15.9 billion). Sales rose 18% in the last three months of the year, and historical analyst estimates have boosted the 10% estimate thanks to strong demand from tourists in Japan and Europe. “In 2024,…

Illustrations by CEO Ryan Schneider everywhere (Getty, everywhere; illustrations by Kevin Levon are real deals) After a slowdown in the third quarter, it walked “a rather harsh housing market” everywhere, bringing growth and optimistic outlook for 2025. The real estate services company posted a net loss of $64 million or an improvement of $43 million over the same quarter in 2023. Its operating EBITDA (revenue before interest, taxes, depreciation and amortization) increased by $24 million from the previous year to $52 million. The parent company of Corcoran, Coldwell Banker, Century 21 and Sotheby’s International Realty reported revenue of $1.4 billion,…

Spanish reinsurer MapFre Re has reorganized its business structure with the aim of advancing its “strategic goals.” Effective changes from March 1 will focus on the development of life business, along with “a strategic, commercial and technical focus and strengthening relationships with clients and brokers.” The new structure is also expected to support “agile response” to evolving clients and market needs. Mapfre Re has appointed Javier San Basilio as general manager. In his new role, Basilio will be responsible for coordinating regional divisions and building relationships with large clients and brokers. The non-group business of reinsurers is now structured into…

We recently published a list of 10 important news updates investors shouldn’t miss. In this article, we’ll see where Hyatt Hotels Corporation (NYSE:H) withstands other important news updates. Investor optimism remains strong despite continued economic uncertainty, with analysts highlighting several key factors driving market performance. While revenue growth, technological advancements and investment trends continue to shape our outlook, interest rates and inflation remain important considerations. Experts are assessing how these factors will affect long-term market trends and whether the current bull run will be sustainable over the next few years. At CNBC’s Squawk Box, Sanctuary Wealth Mary Anne Bartels showed…