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1. Stocks Rise as Investors Bet That Omicron Is Milder
Stocks in the United States rose at the beginning of this week, amid indications that the omicron variant of COVID-19 may be milder than previously thought. As a result, consumers are gaining confidence in travel, the Wall Street Journal reports.
The S&P 500 recovered from its losses the previous week, advancing 53.24 points to 4,591.67, and the Dow Jones Industrial Average increased more than what it had lost, adding 646.95 points to 35,227.03.
Travel and entertainment stocks were among the largest winners in the S&P 500. Norwegian Cruise Line Holdings' stock price rose $1.74 to $20.03, and United Airlines Holdings' stock price increased $3.38 to $43.99. Caesars Entertainment's stock price increased $5.45 to $92.04.
2. Federal Reserve Officials Accelerate Process To End Pandemic-Era Stimulus
In November, the Federal Reserve began the process of sunsetting a bond-buying stimulus program by June, but now officials are planning to accelerate that process to end in March, the Wall Street Journal reports.
"The abrupt shift opens the door to the Fed raising interest rates next spring rather than later in the year to curb inflation, marking a significant policy pivot by Chairman Jerome Powell shortly after President Biden offered him a second four-year term leading the central bank," the news outlet writes.
Officials will meet Dec. 14 and 15.
3. Global Committee Helps Hoteliers Better Track Carbon Footprint
In an exclusive, HNN's Bryan Wroten reports on the efforts of a global committee to help hoteliers better track the carbon footprints of their properties and enact metrics for industry-wide use.
The Global Finance Committee, co-sponsored by the American Hotel and Lodging Association and Hospitality Financial and Technology professionals, has worked alongside the AHLA's Sustainability Committee to create a new way to track and benchmark hotel sustainability efforts.
“Now, some eight years later, we’re going to start using some of that consumption data in order to have a clearer picture of some of our use and broaden that so that we can classify that use better, whether its renewable or nonrenewable or any of the other classifications,” said Ralph Miller, committee member and president of Inntegrated Hospitality Management.
4. CDC Advises Americans Against Traveling to France, Portugal
The U.S. Centers for Disease Control and Prevention on Monday added more destinations to its "Level 4: Very High" classification list, the highest level of travel warnings associated with increased risk amid the pandemic, Reuters reports.
With the new inclusions of France, Jordan, Portugal, Tanzania, Andorra, Cyprus and Liechtenstein, the list now totals 83 destinations.
"France said Monday it would close nightclubs ahead of Christmas and tighten social distancing measures in response to the emergent omicron variant of the coronavirus, but that there was no need for new lockdowns or curfews," the news outlet writes.
5. Nordic Choice Hotels Confirms Cyberattack
Nordic Choice Hotels on Monday confirmed a cyberattack on its IT systems, primarily affecting the hotel systems that handle reservations, check-in, check-out and making new room keys, according to a blog entry on Nordic Choice Hotels' website.
The cyberattack was confirmed to have happened on Dec. 2. Investigators are not certain if guest data has been leaked.
"Our investigations currently show that the incident entails a risk that information about your reservations and stays at our hotels may have gone astray. Information that may be affected is your name and contact information [phone, e-mail], as well as information about the reservation itself and the stay," the website says.