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1. The Fed is once again worried about inflation
The newly released minutes from the latest meeting of the U.S. Federal Reserve indicates some level of concern over an economic policy built around tariffs leading to higher inflation, and that could continue to slow the pace of interest rate cuts, CNBC reports.
During the meeting, members indicated that the current environment of lower regulation gives them "time to assess the evolving outlook for economic activity, the labor market and inflation, with the vast majority pointing to a still-restrictive policy stance. Participants indicated that, provided the economy remained near maximum employment, they would want to see further progress on inflation before making additional adjustments to the target range for the federal funds rate."
2. St. Louis Millennium Hotel site has a $670 million redevelopment plan
The unused former site of the Millennium Hotel in St. Louis will see a $670 million redevelopment headed by The Cordish Companies, Hotel News Now's Natalie Harms reports.
The redevelopment plan does not currently include any new hotel space and outlines 1.3 million square feet of "upscale residential, Class A office space, an amphitheater, a food hall, an improved streetscape and other amenities."
The Millennium Hotel, located between the Gateway Arch grounds and Busch Stadium, has been closed since 2014 and been described as a "blight" by local officials.
“We want this site to be something that St. Louis will be proud of, that it will be an economic driver for the region again,” said Gateway Arch Park Foundation Executive Director Ryan McClure. "Their plan is bold, imaginative, creative and frankly, it’s what St. Louis deserves.”
3. Accor outlines AccorInvest sell-down plan
Accor posted record earnings in 2024, and in its earnings call outlining last year's results, executives also noted a plan to sell their remaining 30% stake in hotel ownership AccorInvest platform by 2026.
Jean-Jacques Morin, Accor's group deputy CEO and head of the premium, midscale and economy division, also serves on AccorInvest's board of directors and said during the call that it is "the right time" to move on.
"The performance of AccorInvest is very good," he said. "On top of that it is recognized by the market. Just the refinancing that was done over the last couple of months … has been a huge success, and the debt on the balance sheet has been reduced by more than €1 billion, and the terms on that debt are very good,” he said.
4. Swiss tourism makes a comeback
Switzerland saw a record year for hotel stays in 2024, after a yearslong dip from a combination of the COVID-19 pandemic and bad weather, Reuters reports. Swiss hotels saw 42.8 million overnight stays last year, which was up 2.6% from 2023.
"Germany had the biggest number of foreign tourists visiting Switzerland, followed by the United States, Britain and France," the news agency reports. "There was also a big increase in the number of overnight stays from visitors from China, continuing the recovery after a collapse in the numbers during the pandemic."
5. Airlines want to scrap wheelchair accessibility rules
Airline lobbying group Airlines for America is fighting a court battle against a Department of Transportation rule that increases penalties for damaging or losing mobility devices like wheelchairs, USA Today reports.
"Introduced during the Biden administration, the final rule, effective Jan. 16, strengthens protections for travelers using wheelchairs, requiring better training, reimbursement for transport or fare differences and prompt repairs or replacements for mishandled devices," the newspaper reports. "It also put the airlines at fault for damaged devices."
A suit just appealed to the 5th U.S. Circuit Court of Appeals calls the rules an "unlawful" overreach.