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5 things to know for Dec. 6

Today's headlines: US jobs numbers come in higher than expected; Strikes could affect holiday travel; A look at holiday season cocktails; Brookfield invests in Brisbane hotel ahead of Olympics; Former MGM head now chair of Resorts World board
Resorts World Las Vegas has named Jim Murren as chairman of its new Board of Directors. Murren is a former chief executive and chairman at MGM Resorts International. Alex Dixon also was appointed CEO. (CoStar)
Resorts World Las Vegas has named Jim Murren as chairman of its new Board of Directors. Murren is a former chief executive and chairman at MGM Resorts International. Alex Dixon also was appointed CEO. (CoStar)
Hotel News Now
December 6, 2024 | 3:25 P.M.

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1. US jobs numbers come in higher than expected

Newly released jobs report numbers came in higher than economists' expectations, and The Wall Street Journal reports a total of 227,000 jobs were added in November, compared to 214,000 projected in a poll of economists.

The newspaper reports this could affect the trajectory of interest rates, as the U.S. Federal Reserve is set to meet in roughly two weeks.

"Fed Chair Jerome Powell has said the economy is looking better, which means policymakers can take more time over cutting," the Journal reports.

2. Strikes could affect holiday travel

Holiday travelers are likely to be faced with striking hotel workers, and The Street reports many guests won't know what to expect before arriving on property.

Markets affected right now include Las Vegas, Los Angeles and San Francisco.

"Hospitality strikes are problematic because they make the city even less attractive for both pleasure and business travel, especially in cities like San Francisco and Las Vegas, which are popular destinations for both kinds of travel," the news outlet opines.

3. A look at holiday season cocktails

Cranberry and hot chocolate are among the taste notes highlighted by this season's holiday cocktails, HNN's Trevor Simpson reports.

HNN complied some of the season's top cocktails, including the Kixby Hotel's Miracle on 35th Street cocktail, which is a combination of Cognac, in-house cranberry rosemary cordial and bitters, and sparkling wine.

"The Miracle on 35th Street is a holiday themed twist on the classic French 75 cocktail served at the Kixby Hotel's ground floor restaurant Black Tap," Simpson reports.

4. Brookfield invests in Brisbane hotel ahead of Olympics

HNN's Terence Baker reports that Toronto-based Brookfield Asset Management is acquiring a Brisbane, Australia, hotel for approximately $58 million ahead of that city hosting the 2032 Olympics.

The sale of the 146-room Hotel X for 90 million Australian dollars ($57.7 million) was first reported by the Australian Property Journal.

The market is largely viewed as underdeveloped and underinvested ahead of the event, and IHG has also announced plans for a 155-room Kimpton Hotels & Restaurants property, slated to open in 2028.

5. Former MGM head now chair of Resorts World Las Vegas board

Resorts World Las Vegas has announced the creation of a new Board of Directors that is chaired by former MGM Resorts International chief executive and chairman Jim Murren. Alex Dixon also was appointed CEO.

"As Resorts World Las Vegas continues to establish itself as the premier resort destination in Las Vegas, we are excited to welcome this group of industry leaders overseeing and guiding the leadership team to deliver unparalleled guest experiences while fostering our commitment to compliance," Kok Thay Lim, the chairman and chief executive of Resorts World owner Genting Berhad, said in a news release. "With over 40 years of collective experience in the global gaming and hospitality industry, we are confident that Alex and Jim, alongside the Board, will help drive the company forward in pursuing our strategic goals for years to come."

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