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1. Deadly fire leaves 40 dead at Swiss ski resort
A bar at a ski resort in Crans-Montana, Switzerland, was the site to a deadly New Year's fire, leaving roughly 40 dead and 115 injured, many serious, the Associated Press reports.
The fire spread around 1:30 a.m. during a New Year's celebration in the basement nightclub, leading to what news outlets are describing as one of the worst tragedies in Swiss history.
"Two women told French broadcaster BFMTV they were inside when they saw a male bartender lifting a female bartender on his shoulders as she held a lit candle in a bottle," the AP reports. "The flames spread, collapsing the wooden ceiling, they told the broadcaster.
"People frantically tried to escape from the basement nightclub up a narrow flight of stairs and through a narrow door, causing a crowd surge, one of the women said."
2. Workers in 19 states see wage hikes to start new year
CNBC reports roughly 8.3 million workers are benefiting from minimum wage hikes that took effect at the start of the year in 19 U.S. states, for a combined economic impact of roughly $5 billion.
The biggest increase happened in Hawaii, where workers saw the minimum increase $2 per hour from $14 to $16.
The news outlet also notes there also many notable municipal minimum wage changes, including increases in Seattle and Minneapolis.
3. 'Quiet luxury' could be a defining trend of 2026
Among the expected trends to dominate hotel design in 2026 is the idea that luxury brands seek to be a bit more understated in the new year, CoStar News' Natalie Harms reports.
Kevin Warwick, vice president of design and construction at Vision Hospitality Group, said design in the luxury hotel segment won't prioritize opulence despite being the best funded portion of the industry at the moment.
"Good design doesn't have to be expensive — it has to be thoughtful," Warwick said.
4. Savills says UK hotel investment hit £5 billion
Real estate services firm Savills estimated total investment volume in U.K. hotels came in at roughly £5 billion for full-year 2025 but saw a 15% year-over-year decline, CoStar News' Luke Haynes reports.
"UK hotel transactions proved resilient in 2025 driven by a liquid single asset market, and the enduring appeal of London, which had its strongest year of investment volumes since 2018," said David Kellett, head of hotel capital markets, EMEA, at Savills. "Despite continuing cost challenges for hospitality businesses, we anticipate a strong year ahead in 2026 with more portfolio deals, building on the positive momentum in the fourth quarter of 2025."
5. New hotel fees take effect in Hawaii
In addition to minimum wage hikes, Hawaii's tax on hotels and vacation rentals also increased from 9.25% to 10%, Hawaii News Now reports.
The tax increase is part of Hawaii's "Green Fee" meant to have tourists pay for more environmental projects in the state, but the planned 11% tax on cruise cabin fares is delayed while a challenge claiming the cruise industry is exempt from state taxes works its way through courts.