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Trung Phan

Get a Room: Finding Opportunities in the $18B Boutique Hotel Industry

It’s been nearly 5 years since Marriott Hotels & Resorts shook up the travel world by announcing its intention to acquire Starwood, its high-end hotel competitor.

When the deal closed in the fall of 2016 for $13.6B, Marriott had created the world’s largest branded hotel chain, accounting for 1 in 7 hotel rooms in North America.

While the recent spread of coronavirus has put a chill on the hotel and travel industry, the long-term macro trends that motivated Marriott CEO Arne Sorenson to complete the Starwood acquisition remains.

Trung Phan

Cash is King: Using the Cash Conversion Cycle to Finance Your Operations

In 2014, the Harvard Business Review published an oft-cited article titled “At Amazon, It’s All About Cash Flow.” The article set out to address the sentiment that Amazon “didn’t make any profit.”

In analyzing Amazon, the article argues that observers should focus on the e-commerce company’s free cash flow rather than its net profit, which doesn’t properly take into account investments in capital goods.

The article continues by identifying the best metric to measure a company’s ability to generate cash: the cash conversion cycle (CCC)

Trung Phan