-minded travelers with authentic local experiences in vibrant destinations worldwide. Each hotel will include thoughtfully-designed, compact rooms with high quality facilities and a vibrant communal space

are designed to meet the demand from customers in three main areas: the "Small concept" - a cozy compact style, located in shopping centers; the “Select concept” - to serve all customer needs for

Investor Strategies for Incorporating ESG Considerations into Corporate Interactions www.blackrock.com www.ceres.org Century21st Engagement Investor Strategies for Incorporating ESG Considerations into Corporate Interactions [ 5 ] FOREWORD The Value of Our Voice ......................................................................................................................................... 1 How ESG Megatrends Are Shaping Valuation ...........................................................

neither strong nor independent-minded enough in most cases to substantially influence deci- sion making by the board. 3 Tunnelling refers to the transfer of resources in favour of the majority owner‟s