As COVID-19 reshapes our economy, our newsletter will help you unpack the news from the day.
Marriott International, the world’s largest hotel operator, is reportedly about to take on Airbnb. According to the Wall Street Journal, the owner of the Marriott, Sheraton, W and Ritz-Carlton hotel brands will launch a short-term home-rental platform as early as next month. Marriott will have to clear a number of hurdles to take on the technology firm that’s disrupted its industry. Beyond providing people with places to spend the night, the hotel and home-sharing businesses don’t have a lot in common. And because many of Marriott hotels are franchises, the move would seem to put the company into direct competition with its franchisees.
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