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1. Wyndham chief financial officer to leave company
Wyndham Hotels & Resorts Chief Financial Officer and Head of Strategy Michele Allen is leaving the company but will stay on in an advisory role through the end of 2025, CoStar News Hotels' Trevor Simpson reports. Treasurer and Head of Financial Partnerships & Planning Kurt Albert has been appointed Wyndham's interim chief financial officer.
“Michele has been an invaluable member of the Wyndham team for over 25 years,” Wyndham President and CEO Geoff Ballotti said in the release. “Her exceptional financial acumen and strategic vision have helped steer Wyndham through many pivotal moments. The contributions she’s made over the years are countless — from advancing key business priorities to nurturing a world-class finance team.
2. Kessler Collection, Highgate form strategic alliance
Hospitality company Kessler Collection is forming a strategic alliance with real estate investment and hospitality management company Highgate through which Highgate will manage several of Kessler's hotels, CoStar News Hotels' Sean McCracken reports. Some of the properties involved are the Casa Monica Resort & Spa, the JW Marriott Savannah Plant Riverside District and the Grand Bohemian Lodge Greenville.
“Our mission has always been to create inspired guest experiences rooted in artistry, individuality and purpose,” Kessler Collection President Mark Kessler said in the release. “When we looked for a partner to help us take the Grand Bohemian brand into its next chapter, Highgate stood out. Their operational discipline, deep revenue expertise and ability to leverage technology to improve oversight and profitability made them the clear choice to complement our creative vision and expand our portfolio.”
3. What 'no tax on tips' actually means
The new U.S. law regarding no taxes on tips or overtime sounds simple in name, but the truth is a bit more complicated, CoStar News Hotels reports in a podcast interview with Lorie Maring, partner and member of the Employee Benefits Practice Group at the law firm Fisher Phillips.
“First of all, it’s really not a ‘no tax,’” she said. “It is a deduction, which is a huge distinction. There are also dollar caps on that deduction and income limits, so it’s really not an across-the-board exclusion from income or deduction at all, and there are a lot of nuances within it.”
4. Possible bipartisan deal in the works to end shutdown
Republicans and Democrats in the U.S. Senate are working toward a bipartisan deal to end the ongoing federal government shutdown, the Wall Street Journal reports. The proposal would involve combining a new short-term bill to reopen the government with some of the annual appropriation bills used to fund federal agencies and providing a vote on extending the expiring Affordable Care Act subsidies.
Some Senate Democrats expressed a degree of optimism over the new talks, but others voiced skepticism about a promised future vote on extending the ACA subsidies, the newspaper reports. There's also the belief talks may become more serious following the latest election results.
“Getting that behind us, people sifting through the entrails to interpret it, could end early this week, and we can get down to business,” Senate Minority Whip Dick Durbin said.
5. UPS plane crash kills nine
A UPS cargo plane crash Tuesday evening in Louisville has killed nine people and temporarily closed the Louisville Muhammad Ali International Airport, the Associated Press reports. The Federal Aviation Administration and National Transportation Safety Board are investigating the crash.
The airport has reopened this morning, but travelers have been warned to watch their flight status as delays and cancellations are likely, according to the airport's website.