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Marriott International, Inc. (NASDAQ: MAR) has completed its acquisition of Starwood Hotels & Resorts Worldwide, Inc., creating the world's largest and best hotel company.

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STR's preliminary August 2016 data for Melbourne, Australia, indicates flat year-over-year performance. 

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Transaction represents continued intense competition for Australian trophy hotel assets.

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The accommodation industry has significant concerns about an agreement which has been reached between the ACCC and two offshore-based companies who command around 80% of the OTA market in Australia

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Operators of a restaurant who relied on informal market research to set their wage rates have been penalised almost $300,000 for deliberately short changing employees.

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