BUYER ALERT: National Labor Relations Board Election Filed at Irvine Marriott, Being Sold by CBRE Global Investors, Says UNITE HERE Local 11
LOS ANGELES--(BUSINESS WIRE)--Dec 21, 2018--The Irvine Marriott hotel is currently being marketed for sale, according to UNITE HERE Local 11. On December 12, workers at the Irvine Marriott filed a petition with the National Labor Relations Board (NLRB) to hold a union representation election. Real estate manager CBRE Global Investors owns the hotel on behalf of a number of limited partners, and it is managed by Marriott.
In the weeks prior to this filing, Irvine Marriott workers, community supporters, and elected officials have repeatedly demonstrated at the hotel calling attention to the treatment of workers at the hotel. In November, women from the Irvine Marriott began visiting limited partners of CBRE Global Investors and other stakeholders to share their stories about alleged sexually offensive and other disrespectful conduct at the hotel. They intend to continue publicizing their stories at investor meetings and other venues into the new year.
To date, UNITE HERE Local 11 has filed four Unfair Labor Practice (ULP) charges against the Irvine Marriott with the NLRB. The charges include allegations that hotel management has violated the National Labor Relations Act by equating union support to disloyalty, interrogating a worker concerning concerted activity, and soliciting worker grievances. A regional office of the NLRB is investigating the charges.
Prospective buyers should be aware that Irvine Marriott workers plan to continue escalating actions at the hotel and communicating with customers about the ongoing labor dispute.
Click here for a report that provides a review of case studies illustrating that some hospitality assets subject to labor disputes sold for a discount, while other assets sold after resolving a labor dispute generated significant gains for investors. For example, in 2017 the Westin Long Beach sold at a $3.6 million loss after its owner failed to resolve a labor dispute at the property.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181221005606/en/
CONTACT: UNITE HERE Local 11
Samir Sonti, 213-481-8530 ext. 120
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TRAVEL LODGING OTHER TRAVEL PUBLIC POLICY/GOVERNMENT OTHER POLICY ISSUES PUBLIC POLICY STATE/LOCAL PROFESSIONAL SERVICES LEGAL
SOURCE: UNITE HERE
Copyright Business Wire 2018.
PUB: 12/21/2018 07:28 PM/DISC: 12/21/2018 07:28 PM