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BUSINESSMonday 1 February 2016
Greece, creditors start new
round of bailout talks Monday
Protesting farmers block a vital point on a highway, the toll sta-
tions at Malgara village, near the northern Greek city of Thes-
saloniki, Friday, Jan. 29, 2016. Q: Do guests want chain
ATHENS, Greece (AP) —
The Greek government
enters a new round of talks
with its creditors, skeptical until the completion of the
about the depth and effi-
cacy of its pension reform
plans, facing protests over
those plans from a broad
spectrum of professions.
Talks with the quartet of
creditors — the European
Commission, the European
Central Bank, the Euro-
pean Stability Mechanism
and the International Mon-
etary Fund — are sched-
uled to resume Monday.
The government says the
Insider Q&A: Choice Hotels Steve
Joyce sees monster summer
to each other, the millenni-
als just sit and text.
hotels to look identical?
Associated Press A: No. That’s the big
change. They want the
hotel to have a sense of
place. They don’t want it to
look like it could be placed
anywhere. So we have re-
gionally-themed concepts
in terms of design. And we
will use local art and pho-
tography.
first phase of the talks will In this 2013 photo provided by Choice Hotels, Choice Hotels Q: What impact will the in-
last a week and, after a CEO Steve Joyce poses for a photo at the company’s corporate dustry’s mergers have on
short break, will resume headquarters, in Rockville, Md. Cheap gas prices are good for you?
summer vacationers, especially those taking road trips. That’s A: If I were an online travel
first assessment of Greece’s one of the reasons that Joyce is optimistic about 2016. agency, I would be wor-
third bailout deal, signed ried. But as a brand guy,
last August. Associated Press I’m not. Megamergers
give the brand companies
Labor strikes are scheduled SCOTT MAYEROWITZ how he plans to compete more leverage with the
through most of the week: AP Business Writer with companies like Airb- OTAs which is a good thing
transport workers on Tues- LOS ANGELES (AP) — nb. Responses have been because they charge too
day, journalists on Wednes- Cheap gas prices are edited for length and clar- much for their service. All
day, a general strike Thurs- good for summer vaca- ity. of us have a similar goal:
day, and transport ship- tioners, especially those Q: Why are low gas prices not to cut these guys out
ping crews Friday. Farm- taking road trips. That’s key? of the equation but to give
ers continue intermittent one of the reasons that A: It’s hugely powerful. We them a reasonable price
blockades of roads across Steve Joyce, CEO of think it will be a monster for the service they deliver.
Greece.q Choice Hotels, is optimistic summer. I guarantee you Q: You recently visited
about this year. will have record travel be- Cuba?
Yes, he says, there is fear cause of those prices. Our A: It’s fascinating, prob-
over the presidential elec- customer drives. That’s a ably the most interesting
tion, China’s economy pay raise to our custom- thing I’ve done since go-
slowing, the stock market ers. It’s extra money in their ing to China in the early
and falling oil prices. But pocket on a weekly basis ‘90s. It is stopped in time
most Americans still have and while traveling. in 1959, but the energy of
jobs, the housing market Q: What does today’s trav- this change, the rise of en-
is strong and they want to eler want? trepreneurs and the gov-
travel. A: Firstly, its technology ac- ernment’s acceptance
The Rockville, Maryland cessibility. People would of foreign capital coming
company has 6,300 hotels rather lose their luggage in is going to change the
with more than 500,000 than lose their phone. So, very nature. It’s all going to
rooms under brands in- free Wi-Fi. Paid Wi-Fi is a be difficult. They’re going
cluding Comfort Inn, major annoyance. But also to go from 50,000 rooms
Clarion, EconoLodge and being about to utilize your to 200,000 rooms in five to
Rodeway Inn. Joyce wants TV as a screen. Then, the seven years. The airport is
to encourage more peo- millennials want a place going to be crushed. The
ple to book via the hotel to gather. They don’t like highways are going to be
company’s own website staying in their rooms. Turns crushed. They are going to
by offering promotions in out baby boomers like the need to work on the infra-
the loyalty program. same thing. The difference structure.
Here’s what Joyce had to between boomers and Q: How are you compet-
say about how hotels look, millennials in the public ing with apartment rental
what travelers want, and spaces: the boomers talk companies like Airbnb?
A: I’m (upset) that we
didn’t think of it. We are
getting into that business,
but we’re going to do it
with rental management
companies. We’re going
to take their inventory, sell
it on our website and give
those customers points.q