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The Wall Street Journal reports the ongoing banking issues — headlined by the collapse of Silicon Valley Bank — have brought both bond sales by investment-grade companies and public offerings to a screeching halt early in March. The week starting March 9 and ending March 17 was the first in a decade without a single high-grade bond sale.

"March is typically busy for new corporate debt financings: Companies look to secure financing before the blackout period between the end of the first quarter and the kickoff of earnings season, when they typically refrain from bond sales," the newspaper reports. "Lately, a lack of investor confidence and wild swings in the Treasurys market have kept companies on the sidelines."

The New York Times recently took a closer look at how converted hotels in New York have become hot spots for housing thousands of Migrants. The city has spent millions to convert roughly 100 buildings — which is largely hotels but also includes some former office buildings — to emergency migrant housing and could spend as much as $4 billion over the next two years on the program.

"And it has been something of a boon for hotels, which have suffered as the city tries to boost its economy as it emerges from the pandemic," the newspaper reports. "Contracts obtained through Freedom of Information Law requests and a recent report from the office of Comptroller Brad Lander provide new insight into how hotel and even office building owners stand to profit from the conversions."

Tourism Economics President Adam Sacks believe travel demand will remain strong and any potential economic recession will remain mild, HNN's Stephanie Ricca reports from the recent Hunter Hotel Investment Conference.

But despite that good news, something industry observers can't ignore, Sacks said, is the impact inflation is having on households.

“Inflation is the epicenter,” he said. “The latest data shows prices are 6% higher than they were one year ago, and this year, the average household is spending an additional $400 per month on goods and services. Surely this leaves a mark.”

A joint venture of NewcrestImage and Hospitality Capital Partners have announced the $137.3 million acquisition of 16 Marriott branded hotels, HNN's Bryan Wroten reports. The deal includes 13 Courtyard by Marriott properties and three Residence Inn by Marriott properties with 2,155 rooms, collectively. The properties were sold by real estate investment trust Service Properties Trust.

“This transaction suits our company’s style of strategically acquiring properties with strong fundamentals, especially during times of a difficult or slowed-down economy,” said Mehul Patel, managing partner and CEO of NewcrestImage.

CNBC reports the early results of the European Union's planned crackdown on "greenwashing" — which means overstating environmental and sustainability efforts by companies — have been largely toothless, with corporate lobbying efforts apparently making the new "Green Claims Directive" so vague that it may be unenforceable.

The directive is still subject to European Parliament and Council approval and could impose penalties up to 4% of annual revenue to companies that violate the rules.

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