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1. UK inflation falls to 2.6% in March
Inflation in the United Kingdom increased 2.6% year over year in March, down from 2.8% in March 2024. The U.K. Office for National Statistics stated the largest downward contributions to the rate came from “recreation and culture, and motor fuels.”
The goal of the U.K. government and the Bank of England is to contain inflation to 2% growth. The Bank of England has said it predicts U.K. inflation to rise 3.7% in year-on-year terms for full-year 2025 and it does not expect the growth rate to fall to 2% or lower before 2027. Inflation is expected to increase in April due to cheaper imports from China originally destined for the U.S. and increased domestic costs such as higher energy prices and business costs following budgeted increases that started on April 1.
2. International travelers avoid US amid Trump tariffs
Economists and tourism analysts expect international inbound travel to the U.S. to fall sharply in 2025, writes Hotel News Now’s Natalie Harms. Adam Sacks, president at Tourism Economics, said U.S. President Donald Trump’s tariffs have resulted in the U.S. “looking at a full 10 years between pre-pandemic and what will be full recovery. And, of course, that comes with significant economic losses.”
Overseas visitor arrivals into the U.S. fell 11.6% in March compared to the same time period in 2024. Ryan Sweet said in some cases price increases are expected to be nearly 10% “thanks to both direct and indirect impact of tariffs.”
3. Kempinski extends agreement to scale brands with Beijing Tourism Group
Geneva-based hotel firm Kempinski has signed a deal to extend its partnership with China’s Beijing Hotel Group. The agreement will launch a multiyear investment plan to add Kempinski-branded hotels to the country and scale its Bristoria and NUO brands in China. Kempinski has been active in China since 1992 when it opened the Kempinski Hotel Beijing Lufthansa Center, now the Kempinski Hotel Beijing Yansha Center, which has 480 rooms and is owned by BTG.
NUO currently has three hotels, all in Beijing, and the Bristoria brand will debut in the third quarter of this year with the opening of the Bristoria Hotel Yangzhou. Both companies also are considering another brand, described as “a new lifestyle hospitality brand to reach 200 hotels in China over the next five years.”
4. Singapore lowers economic forecasts due to tariffs
The Monetary Authority of Singapore — Singapore’s central bank — has lowered its GDP prediction for full-year 2025 by one percentage point due to the U.S.-China trade war, the Wall Street Journal reports. Gan Kim Yong, the city-state’s deputy prime minister and minister of trade and industry, said that “sweeping tariffs introduced by the U.S., and the ongoing trade war between the U.S. and China, are expected to weigh significantly.”
Singapore's central bank dropped its GDP prediction from 1% to 3% growth to 0% to 2%. The WSJ added that the “Southeast Asian financial hub’s economy slowed more than expected in the first three months of 2025, cooling to 3.8% on the year from the 5% pace seen in the final quarter of last year.”
5. Wynn Resorts co-founder Elaine Wynn dies
Elaine Wynn, the co-founder of hotel-casino firm Wynn Resorts, has died at age 82. She created the hotel firm and brand with Steve Wynn, whom she married twice. In the company’s latest annual report, published on March 19, Elaine Wynn owned approximately 8.95% of the firm, its second largest shareholder, according to The Nevada Independent.
An official announcement on Wynn Resorts’ website stated: “[Elaine] helped to create and grow the company to become the most esteemed luxury resort brand in the world.” Her first hotel, Wynn Las Vegas, opened almost 20 years ago today, on April 28, 2005. Wynn also has hotels and ownership in Boston, Macau and the United Arab Emirates.