Powell said that rate cuts won’t be warranted until officials have “gained greater confidence that inflation is moving sustainably” toward the central bank’s 2% goal.

U.S. RevPAR is forecast to increase by 2.6% to $100.50 in 2024, driven by ADR growth of 3.1% to $160.50 while occupancy declines 0.5% to 62.6%.

In January, prices for food eaten away from home were up 30% compared with the same month in 2019. Restaurants’ food bills have stopped their pandemic-era surge, but payroll costs are still climbing.

The first batch of more than 25,000 letters will go out to taxpayers with more than $1 million in income, followed by more than 100,000 letters to people with incomes between $400,000 and $1 million. The notice says to file your return immediately or to explain either why you are late or don’t have to file.

“Rest and relaxation” jumped ahead of having “a fun time” and spending “time with immediate family” as the main motivator for leisure travel.

Hilton has collaborated with AutoCamp, the outdoor hospitality company, to offer “enhanced outdoor lodging experiences in unique destinations”. The partnership will offer an experience that combines outdoor adventure with the hospitality of a boutique hotel.

Hotels will collectively pay $123 billion in compensation this year, up more than 20% from 2019.

Miami-based investor CGI Merchant Group defaulted on a $285 million loan related to the Washington Waldorf Astoria (previously the Trump International Hotel) it acquired for $375 million in 2022.

With the strong labor market and a hawkish Fed, traders recalibrated their bets around rate cuts with June becoming the highest probability for the first cut. Meanwhile, some market investors have begun considering the possibility that we may not see rate cuts this year.

For the millions of workers who find going into the office stinks, some executives say they have a remedy: Make the office smell better. Employers are using scent to boost moods and get workers to come in.