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1. Arson Attacks Disrupt Travel in France
Coordinated arson attacks across three high-speed train lines in France have disrupted travel ahead of the opening ceremony of the Olympics in Paris later on Friday, the New York Times reports. This is likely to interrupt travel plans for more than a million people through the weekend, including Olympic athletes and tourists.
The fires were set in pipes carrying cables used for signaling, the newspaper reports. They were set on three train lines — the Atlantic, Northern and Eastern lines — with one set around Arras, one set in Courtalain and a thwarted attempt on the line that connects Paris to southeastern France.
2. Ashford's W. Michael Murphy Dies
Hospitality industry veteran W. Michael Murphy died on Wednesday, Ashford Inc. said in a news release. Murphy served on Ashford's board of directors since 2018, and previously served on the board of Braemar Hotels & Resorts from 2013-15 and Ashford Hospitality Trust from 2003-13.
"We are very saddened to announce Michael's passing," said Monty Bennett, chairman and CEO at Ashford. "We will miss him, both as a friend and as a valued business leader. On behalf of the directors and management of Ashford Inc. and the entire Ashford Group of Companies, we extend our heartfelt condolences to Michael's family during this difficult time."
3. Pebblebrook CEO Projects Strong 2025
During Pebblebrook Hotel Trust's second-quarter earnings call, Chairman and CEO Jon Bortz said positive demand trends and a refreshed portfolio should provide a boost to the company's performance in 2025, HNN's Bryan Wroten reports.
“We're very optimistic that a soft landing engineered by the Fed, if successful, will lead to a very positive year for our industry and our company next year,” he said. “It certainly feels like we're on the brink of commencing a very positive up-cycle for our industry and for Pebblebrook.”
In the second quarter, Pebblebrook reported a net income of $32.2 million, down from $46.2 million last year. Its same-property revenue per available room, room revenues and total revenues in the quarter all had positive year-over-year growth.
4. UK Eyes First Rate Cut Since 2020
Next week, the Bank of England will meet on Aug. 1 and could decide upon the U.K.'s first interest rate cut since 2020. Interest rate futures show a 50% chance of the cuts happening, Reuters reports. Interest rates are at a 16-year high of 5.25%.
"We've run out of ways to describe how close the decision next week will be," RBC Capital Markets' global macro strategist Peter Schaffrik and senior UK economist Cathal Kennedy wrote in a note to clients Thursday.
On June 20, the bank's Monetary Policy Committee voted 7-2 to keep rates on hold.
5. The Case for Wellness Suites
Wellness hotel rooms became a hit for guests after the pandemic constrained everyone to solitude, but the concept has been around for longer. These wellness rooms come equipped with yoga mats, weights and sometimes a Peloton bike, the Wall Street Journal reports.
Even today, some guests would prefer to get their workout done in private rather than in a public gym.
"With the initial concept, our guest research revealed that convenience and privacy are two of the main factors people consider when deciding whether to use a hotel fitness center,” said Amanda Al-Masri, global vice president of wellness at Hilton.