August apartment asking rents nationally fell 0.1% from July, the first monthly decline in rent since December 2020.

The average daily room rate for group hotel bookings last month was $204, only 3.4% below the rate for same month in 2019.

For the three months ending Aug. 31, sales of luxury U.S. homes dropped 28.1%, from the same period last year. That marks the biggest decline since records began, and eclipses even the 23.2% decrease recorded during the onslaught of the pandemic in 2020.

Wyndham Hotels & Resorts announced plans to offer a mobile-tipping option to the owners of more than 6,500 hotels.

Ten-year Treasury yields rose to 3.545%, the highest closing level since April 2011.

Workers are returning to U.S. offices at the highest rate since the pandemic forced most workplaces to temporarily close in 2020. Office use on average was 47.5% of early 2020 levels for workers in the office over the five business days from Sept. 8 to Sept. 14 in the 10 major metros.

Hilton has tapped a major development project in Manhattan’s Times Square to debut its boutique brand, The hotel, which will be the first under the new Tempo by Hilton flag, will feature 661 rooms when it opens next year. It is part of TSX Broadway, a $2.5 billion, 550,000-square-foot tower located next to Times Square’s red bleachers and the TKTS discount-tickets booth.

Adam Neumann recieved a $1 billion exit package in cash and loans when he left WeWork. He is now launching a residential apartment brand called Flow.

Stocks suffered their worst day since 2020 as high inflation raised fears about a more-aggressive Fed. The Dow dropped nearly 1,300 points.

Deposits at U.S. banks fell by a record $370 billion in the second quarter, the first decline since 2018. Deposits fell to $19.563 trillion as of June 30, down from $19.932 trillion in March.