This article is part of The World In Brief series on the world’s top hotels.
The world’s biggest hotel companies are struggling to stay afloat amid an industry-wide glut of properties.
Here’s what you need to know about the hottest hotels around the globe.
New York Marriott Hotels, which have earned a reputation for being expensive, are at risk of going out of business in 2019 due to a downturn in their business model.
This is the first major downturn in the company’s history.
Its stock has plummeted more than 70% since 2016, and Marriott has been in a severe financial straits for several years.
Marriott has cut staff by over 30% since the end of 2019, and the company has been forced to lay off 1,500 employees.
A report by consulting firm CBRE predicts that by 2021 Marriott will be out of money and in trouble.
Rio de Janeiro-based Hotels Resorts, which has been an industry leader for decades, is looking to revive its fortunes with a focus on new properties.
The company, which operates two properties in London and two in Paris, is still trying to recover from the devastating wildfires that struck the resort in 2018.
The hotel chain has yet to respond to a request for comment.
Beijing-based Wanda Hotels is trying to reinvent itself after a $1.3 billion sale last year.
The luxury hotel chain’s CEO, Hu Zhiqiang, has said the company is committed to building a new brand, but that it will take a few years to recover.
The group has not responded to a Q&A request for comments on its plans for 2019.
Rio-based hotel company Casa de Maravilhas is struggling to compete in the global market, despite spending over $50 billion to build three new hotels in the past two years.
Casa has been trying to revitalize its brand with the help of a $5 million grant from the Chinese government to develop the property in Rio.
The Casa project is a partnership between the Chinese state-owned conglomerate CITIC Group and Rio-Dade County.
Shanghai-based JW Marriott Hotresorts has struggled with slowing sales and financial troubles, and is in a deep financial hole.
The Chinese company has had a rough year, with its stock down more than 60% in 2019.
JW has also lost nearly $200 million in market capitalization since its initial public offering in 2018, and has not had a profitable year since 2015.
The deal to sell the property to a consortium of Chinese investors led by Chinese state company Zhejiang Huayuan Group has been approved, but the deal is expected to close in 2019 or 2020.
Vancouver-based Kiewit Hotels has struggled to turn a profit in recent years.
Its market capitalizations are now below $30 billion, and its stock is trading at below $10 a share.
The Kiewits parent company, Chinese firm Jia Yueting, is the largest shareholder in the hotel company.
The Jia group is one of the largest owners of the Shanghai Jia Group hotel chain, which is based in Shanghai.
Dubai-based Starwood Hotels Group has struggled in recent months with a series of missteps in its hotels business, including the loss of its flagship property in Dubai, the Royal Biltmore, and a string of property failures.
The resort chain, based in the United Arab Emirates, lost nearly 5,000 hotel rooms and has had to lay-off more than 300 employees since the beginning of 2019.
The losses and closures have forced the company to seek out other markets, including hotels in Japan, Malaysia, and Vietnam.
Starwood has yet a response to a follow-up Q&