From the desks of the Hotel News Now editorial staff:
- Trade tensions continue to roil markets
- Some worry over signs of a recession
- Unique color pairings set to be a hallmark of 2019 design
- Ace exec on Sister City brand
- New life at an abandoned Atlantic City property
Trade tensions continue to roil markets: Stock markets around the world took a turn for the worse early today amid continued worries about trade disputes between the United States and various other countries, and Reuters reports crude oil is also on a downward trajectory, falling more than 2%.
Some of the negative market outlook seems to stem from a Wall Street Journal report that U.S. President Donald Trump is looking to impose new rules on Chinese investment in American technology companies and could block Chinese tech imports.
Some worry over signs of a recession: The New York Times reports that some investors and economists are increasingly worried about the state of the “yield curve,” which measures “the difference between interest rates on short-term United States government bonds, say, two-year Treasury notes, and long-term government bond, like 10-year Treasury notes.” A healthy economy should have higher rates on long-term bonds.
The Times reports the curve is “perilously close to predicting a recession,” approaching a similar gap to where it was in 2007.
Unique color pairings set to be a hallmark of 2019 design: HNN’s Danielle Hess writes about color trends for 2019, including a deep green from PPG called “Night Watch.”
“I actually really like dark green,” Lela Richardson, senior project designer at Wilson Associates, said. “… There are a few ways I see it coming out: One is you have this really moody, dramatic opportunity to see it as an accent or throughout the whole space. As an accent, you see it gives a very powerful statement, but then throughout the space, especially in smaller spaces like restaurants or speakeasies, I can see it used holistically throughout the space—in the walls, in accents (and) in (furniture, fixtures and equipment.”
Ace exec on Sister City brand: Officials with Ace Hotels are planning some growth later this year and early into 2019 with the opening of a property in Kyoto, Japan, and a New York hotel that will feature a new identity for the company—Sister City. Kelly Sawdon, partner and chief brand officer, recently spoke with The New York Times and shared some insight into how Sister City differs from Ace.
“Ace is about taking the city and the culture and bringing it within our walls. Sister City is a place that’s still encouraging people to go out and explore these cities, but it’s about having a place to come back to that’s quiet and calming. It allows the guests to engage with the community as they please and not be participating in it when they come back to their hotel.”
New life at an abandoned Atlantic City property: The Wall Street Journal today highlighted the efforts underway now by Denver-based Integrated Properties to revamp the shuttered Revel Hotel and Casino, which closed in 2014 after only two years of operation. The Journal notes the company purchased the property for $200 million and is making several improvements to the casino floor and is adding new features like a sportsbook.
The newspaper also notes there are plans “to finish 12 more floors of the Ocean Resort’s hotel,” which was not completed during Revel’s initial life.
Compiled by Sean McCracken.