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1. Stimulus helps boost China's Golden Week travel
While the overall Chinese economy continues to suffer from near-record-low consumer confidence, the combination of government stimulus and the annual Golden Week holiday led to a strong week of travel, Reuters reports.
"China's railway network said 175 million passenger trips will be completed during the 10-day National Day holiday travel rush from Sept. 29 to Oct. 8, with daily average trip numbers similar to last year's levels," according to the Reuters report.
Earlier projections were for flat year-over-year spending numbers, but the Chinese government still hasn't released final data on holiday period spend.
2. New wave of hotel strikes in Boston
Roughly 600 workers from the Hilton Boston Logan and Hilton Boston Park Plaza began a new wave of strikes with a promise to not go back to work "until they win the wages they deserve," Boston's WCVB reports.
Unite Here Local 26 had previously participated in the nationwide hotel strikes during the Labor Day weekend, but now promises to strike indefinitely.
In a statement issued to WCVB, Hilton said: "The union has chosen to pull our Team Members out on strike and while we do not believe the union’s decision to strike is in the best interests of our Team Members, we respect their right to do so in a peaceful and lawful manner."
3. A look at hotel refinancing trends
With the U.S. Federal Reserve making its first in a wave of expected interest rate cuts last month, HNN's Bryan Wroten took a look at how hotel owners are considering plans to refinance and cut interest rates on existing debt. Lenders and debt brokers say there seems to be a spike in conversations about refinancing but few are pulling the trigger at this point.
Access Point Financial Chairman and CEO Michael Lipson said the hotel industry is still a few months away from a big pick-up in refinancing activity.
“I think realistically it won't be until the first quarter of next year that you will begin to see signs of the economy improving or leveling off,” he said. “Maybe a further rate cut, or anticipation or another further rate cut. And then, of course, what did the election mean to you? Was it a positive thing? Was it a negative depending on your politics? Clearly, you see the conversation pick up, but it's still conversation.”
4. Hurricane Milton approaches landfall in Florida
While much of the Southeast U.S. is still reeling from Hurricane Helene, another powerful storm is approaching Florida, with Hurricane Milton expected to make landfill midweek, the Associated Press reports. The storm has grown into a category 3 over the Gulf of Mexico and currently has a trajectory that would carry it over Tampa and Orlando.
Experts say this storm's path is relatively rare.
“It’s not uncommon to get a hurricane threat in October along the west coast of Florida, but forming all the way in the southwest Gulf and then striking Florida is a little bit more unusual,” Daniel Brown, a hurricane specialist at the National Hurricane Center, told the AP.
5. Rosen Hotels offers discounted rates to hurricane evacuees
Ahead of Milton's landfall, Rosen Hotels & Resorts has announced it's offering "Florida Resident Distressed Rates" for evacuees from the 51 counties under a state of emergency, Florida Today reports.
The discounted rates range from $69 a night to $139 a night.
“This initiative provides evacuees with a safe and affordable place to stay as they ride out the storm,” according to a news release. “Rosen Hotels & Resorts remains committed to the safety and well-being of all Floridians, prioritizing people over profits in times of need.”