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1. Booking.com faces legal challenge in The Netherlands
A pair of Dutch consumer groups are launching a legal challenge against Booking.com alleging the company has inflated hotel prices for over a decade, Reuters reports.
The Consumer Competition Claims Foundation and the Consumers' Association believe the online travel agency has cost consumers "hundreds of millions of euros" beyond what they should have paid.
"We have done research, and it shows that Booking has been violating competition rules and consumer law since January 2013," CCC Chairman Bert Heikens said.
2. Trump-Powell feud disrupts market
The latest stage of the conflict between President Donald Trump and U.S. Federal Reserve Chairman Jerome Powell now has the president threatening to name Powell's replacement early, The Wall Street Journal reports. The move has apparently been tanking the value of the U.S. dollar.
The newspaper's dollar index dropped 1.6% this week, hitting its lowest levels since 2023.
The conflict between the two figures stems largely from Powell's reluctance to drop interest rates.
“If we make a mistake here, people will pay…the cost for a long time,” Powell told a Senate committee on Wednesday. Rate cuts this year are possible, but “we’re going to take a careful approach.”
3. How Hilton is connecting smaller franchisees with financing
Hilton officials recognize the hotel industry is in a prolonged period of difficult financing, and they're hoping to ease that pain for smaller franchisees through a partnership with Bridge.
That platform helps connect hotel developers with thousands of lenders at a point where many traditional construction lenders are out of the market.
"Post-COVID, we've been in a very strange cycle," said Bill Fortier, Hilton's senior vice president of Americas development. "The lenders who are generally eager to invest in hotel projects pulled back and have been uncertain about what's going on."
4. Marriott Budapest sells for €115 million
A consortium including Hungarian Prime Minister Viktor Orbán's son-in-law has purchased the 364-room Marriott Budapest for €115 million ($134.6 million), or approximately €316,000 per key, CoStar News' Terence Baker reports.
The seller of the Marriott Budapest was Austria-based S IMMO AG, a subsidiary of CPI Europe. The buyers are a group including Tiborcz's BDPST Group, as well as Diorit Private Equity Fund, which is managed by Gránit Asset Management.
“The sale was based on an open international tender, from which the BDPST Group and the Diorit Private Equity Fund, managed by Gránit Asset Management, emerged as the best bidders,” a news release stated.
5. A look at the Waldorf Nile Experience, Hilton's first cruise
New details are emerging about Hilton's first foray into cruises, which was announced in April. The Waldorf Astoria Nile River Experience will debut in 2026, traveling both ways from Luxor to Aswan and spanning four to six nights at "some of Egypt's most famous landmarks," according to Robb Report.
Hilton didn't specify which ship it will use, but it did say it will feature five decks and 29 suites, according to the article. The ship will also offer hotel-like amenities, including a high-tech fitness center, lavish spa and a rooftop deck. The brand's signature Peacock Alley will serve refined dishes and a brasserie offering Egyptian, Mediterranean, and international cuisine.