From the desks of the Hotel News Now editorial staff:
- Meet the Money: Execs discuss labor, REIT M&A
- Stocks fall around US-China trade talks
- Fewer tourists going to Sri Lanka after bombings
- Travelodge looks to hire 3,000 students
- Trump Hotel pools shut down by health inspectors
Meet the Money: Execs discuss labor, REIT M&A: Executives on an opening general session panel at Meet the Money said the economy and hotel industry are doing well for the most part, but there are a lot of challenges and a lot of uncertainty to be mindful of, HNN’s Bryan Wroten writes.
Labor was a top concern for panelists. Will Obeid, VP and head of hospitality at Kushner, said the best companies are the ones that can hire the best talent in the industry and retain that talent.
“I think that remains probably the best thing we can all do in this business,” he said.
Stocks fall around U.S.-China trade talks: U.S. stocks fell Wednesday morning as investors react to rising tensions between the U.S. and China in trade talks, The Wall Street Journal reports.
The Dow Jones Industrial Average and the S&P 500 were both down 0.4% before markets opened. The Shanghai Stock Exchange in Asia dropped 1.1% and Hong Kong’s Hang Seng Index was down 1.2%. Korea’s Kospi also dropped 0.4%.
“The moves echoed sharp losses in U.S. markets Tuesday,” the news outlet reports.
Fewer tourists going to Sri Lanka after bombings: Sri Lanka saw tourist arrivals drop 7.5% in April compared to the previous year as a result of fewer people traveling there in the aftermath of the Easter Sunday bombings, Reuters reports.
Kishu Gomes, chairman of the Sri Lanka Tourism Development Authority, told the news outlet that the drop in visitors “is a direct impact of the attacks. There were a lot of cancellations.”
“Foreign visitors in April fell to 166,975 compared with 180,429 in the same month a year ago, marking the single biggest monthly slump since the end of a civil war a decade ago,” Reuters reports.
Travelodge looks to hire 3,000 students: The hospitality industry in the United Kingdom has seen a labor shortage fueled by efforts by the U.K. to exit the European Union, which is why Travelodge is looking to hire 3,000 students with contracts that would allow them to “fit work around their studies,” The Guardian reports.
The move to hire students is part of Travelodge’s strategy to be “Brexit ready.”
“It is looking to fill roles across its existing 560 UK hotels, with 2,200 of the student jobs to be filled on a permanent basis, and 800 positions to be offered over the busy summer season,” according to the news outlet.
The company is also planning to create 3,000 roles over the next five years as it opens 100 properties.
A third of employees at the company are from the EU. Job applications from mainland Europe have decreased since the Brexit vote in 2016.
Trump Hotel pools shut down by health inspectors: Some pools at Florida properties under Trump Hotels International have been shut down by health inspectors multiple times over the past year, Quartz reports.
State records show that pools were shut down for reasons such as improper ph levels, problems with disinfection feeders, and safety features that weren’t up to code.
Hotel pools with unsatisfactory ratings include Trump International and Trump National Jupiter.*
Compiled by Danielle Hess.
*Correction, 15 May 2019: This article has been updated to remove two Florida hotels that were improperly identified as having unsatisfactory pool cleanliness ratings.