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1. China pushes back on US tariff measures
China's Commerce Ministry said on Tuesday that that it would "fight to the end" and take additional countermeasures against the United States after President Donald Trump threatened to increase tariffs against China an additional 50%, the Associated Press reports. The ministry also said the reciprocal tariffs placed by the U.S. are "completely groundless and is a typical unilateral bullying practice."
The threat of an additional 50% tariff comes after China announcing it would retaliate with a 34% increase of its own. An additional 50% tariff on Chinese goods would make it a combined 104%.
“The U.S. threat to escalate tariffs on China is a mistake on top of a mistake and once again exposes the blackmailing nature of the U.S. China will never accept this. If the U.S. insists on its own way, China will fight to the end,” the ministry said.
2. Stocks rise a day after severe hits
Global stocks are on the rise Tuesday after significant setbacks in response to the U.S. tariffs, the Associated Press reports. In the U.S., the S&P 500 was up 3.4% early Tuesday while the Nasdaq composite was up 3.6% and the Dow Jones Industrial Average was up 3.3%. Tokyo's Nikkei 225 was up more than 6%.
CEOs, including Pershing Square Capital Management's Bill Ackman and JPMorgan Chase's Jamie Dimon, have started to speak out against the tariffs amid the fluctuating market, the Wall Street Journal reports.
“We are in the process of destroying confidence in our country as a trading partner, as a place to do business, and as a market to invest capital,” Ackman wrote in a social media post on X over the weekend.
3. Bifurcation in Europe's hotel industry
STR data shows signs of bifurcation in Europe's hotel industry from both regional and class perspectives, HNN's Bryan Wroten reports from the International Hospitality Investment Forum EMEA conference.
Aoife Roche, regional vice president of sales for EMEA at STR, CoStar's hospitality analytics firm, said there's been hotel occupancy growth in the United Kingdom, Ireland and Southern Europe, but it's left little room for many European markets to grow.
"It's a similar picture with rates, as Southern Europe shows high performance compared to 2019, growing anywhere between 50% to 60% of 2019 levels, [Roche] said. The rest of Europe is sitting at about 20% to 30% ADR growth compared to 2019," Wroten reports.
4. Upper-upscale hotel opens in Toronto
The 232-room TOOR Hotel, a new upper-upscale JdV by Hyatt hotel, opened in Toronto, according to a news release. This is the second JdV by Hyatt hotel in the city and the third in Canada.
“TOOR Hotel is a vibrant space where travelers can truly connect with the culture, diversity and energy of this remarkable city,” said Katie Johnson, vice president, global brand leader for Hyatt. “From its bold design to its welcoming atmosphere, the hotel reflects the lively spirit of Toronto and the independent ethos of the JdV by Hyatt brand."
5. Hyatt Ziva Puerto Vallarta reopens after $20 million renovation
Playa Hotels & Resorts completed a $20 million renovation of the 335-room Hyatt Ziva Puerto Vallarta, which is part of Hyatt Hotels Corp.'s Inclusive Collection, according to a news release.
All 244 rooms in the North Tower of the property have been renovated with new air conditioning, custom woodwork, smart TVs and more. The property elevated its culinary options with live Teppanyaki cooking by expert chefs. It also upgraded its event spaces and redesigned its lobby.
"These updates not only enhance the guest experience but also reinforce our commitment to setting new standards in all-inclusive luxury through elevated accommodations and innovative experiences," said Fernando Mulet, executive vice president and chief investment officer at Playa Hotels & Resorts. "We can't wait to welcome guests back to rediscover this stunning resort."