Global stock markets reeled in the wake of Trump administration tariff news on April 2, signaling increased worries about a recession along with higher prices on imported products.
U.S. President Donald Trump has said the aggressive tariffs plan is designed to encourage more U.S. production in the long term. But as consumers brace for increased costs now, what does this mean for the global hotel industry?
Right now, the impact is across several fronts: First, hotel owners and operators are planning how to manage increased costs of everything from breakfast buffet avocados to guestroom case goods. As costs go up on imported products for consumers around the world, discretionary spending goes down, eating into travel budgets. Beyond that, hoteliers in the U.S. in particular are dealing with tense sentiments from foreign travelers deciding they may not want to change their travel plans to alternate destinations.
Read the latest headlines here:
Breaking news headlines
- April 4: China responds to new US tariffs
- April 3: Trump administration unveils slew of new tariffs; travel stocks tumble
- April 1: Stock market falls ahead of 'Liberation Day'
- April 1: Europeans to avoid US this summer
- March 31: Canadians continue to opt out of US travel
Around the world
Executive perspectives
