AccorHotels has signed an agreement for the acquisition of FRHI Holdings, parent of the Fairmont, Raffles, and Swissôtel brand.

The operating result (underlying EBITA) climbed by 22.9 percent to 1.069 billion euros. It amounted to €1.004 billion, up 15.4 percent.

Falling airfares are helping to support strong growth in global air passenger traffic, according to IATA.

Lufthansa has agreed to a pay deal with its 30,000 ground staff with a hope to avoid further strikes. The deal has been struck with the service sector union, Verdi which has been promised pay rise of 2.2 per cent, €2,250 (£1,580).

The Ritz-Carlton St Thomas has a new owner. The property, which recently underwent a $22 million renovation, is being acquired by Dallas-based Ashford Hospitality Prime for $64 million from Marriott.

We learned a lot from a Millennial roundtable we held in New York recently; here are the top takeaways if you’re seeking to sculpt a marketing plan to reach this very large audience.