By Craig Karmin
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Dozens of Marriott hotel owners say they are getting ripped off by the lodging brand's popular Bonvoy loyalty program. The world's largest hotel chain said that fee revenue from its co-branded credit cards is expected this year to reach nearly $1 billion. The vast majority of Marriott hotels are owned by franchisees, who say they are the ones bearing the expense of providing rooms when customers cash in their credit-card points. As Kate King reports, these owners representing nearly 1,000 Marriott-branded hotels are demanding a bigger piece of the program's revenue.
Shark Tank TV star Kevin O'Leary is trying to build one of America's largest data centers. That is, he said, if he can stop the Chinese government from interfering. O'Leary says opponents to his project are part of a propaganda campaign waged by communist China to stymie U.S. progress in the race for AI global dominance. He has provided scant evidence of Chinese-government involvement, and some say his campaign is meant to discredit his opponents. Will Parker explains how it got here.
Hotel Owners Are Rebelling Against Marriott's Loyalty Program
Dozens of America's biggest hotel owners are pressuring Marriott International to share more of the wealth from its lucrative partnerships tied to the Marriott Bonvoy loyalty program.
The amount fee revenue from Marriott's co-branded credit cards is expected to jump this year, to nearly $1 billion. Hotel owners, who bear the costs of hotel stays paid for with credit-card points, say that they previously believed the program was only breaking even and that the hotel giant is ripping them off.
Backlash Is Growing Over Kevin O'Leary's Data Center. He Is Blaming China.
Kevin O'Leary is trying to build one of America's largest data centers. That is, he said, if he can stop the Chinese government from interfering.
Government Sells Trump's Former Washington, D.C., Hotel
The federal government sold Washington, D.C.'s former Old Post Office building, now a Waldorf Astoria hotel, to the firm that holds the long-term lease on the property.
Data Points
-- 15.4%: The month-over-month decline in housing starts in May, according
to the Commerce Department. Builder sentiment has been declining due to
high mortgage rates and building-material costs, indicating that
single-family housing construction may remain subdued.
-- 4.4%: The decline in monthly visits to quick-service restaurants in May
compared with the same month last year, according to Placer.ai, marking
the third straight month of falling foot traffic. The trend indicates
that rising expenses are causing more budget-conscious households to pull
back on spending.
-- $1,686: The national median asking rent for a property with up to two
bedrooms in May, the 34th consecutive year-over-year decline, according
to Realtor.com. Rent prices have fallen $78 from their 2022 peak, but are
still $248 above prepandemic levels recorded in May 2019.
Beyond WSJ
-- New York Mall Loan Signals a Shift in How Lenders Tackle Distress
(CoStar)
-- Brexit Remade London Commercial Real Estate. Now The Future Is Even Less
Certain. (Bisnow)
-- Small, Unloved and Unkempt, These Unusual Properties Are Hot in Australia
(NYTimes)
About Us
Craig Karmin is real-estate news bureau chief. Reach him on X @CraigKarmin or via email at Craig.Karmin@wsj.com. The newsletter is compiled and edited by Kate King and Rebecca Picciotto (rebecca.picciotto@wsj.com), WSJ real estate reporters. Reach them via email at kate.king@wsj.com and rebecca.picciotto@wsj.com. Got a tip for us? Here's how to submit.
(END) Dow Jones Newswires
June 17, 2026 10:00 ET (14:00 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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