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1. German economy contracts 0.3% in second quarter
The German economy, Europe’s largest, shrunk in the second quarter of 2025 in year-on-year terms by 0.3%, according to Destatis, the German government’s official statistician. Exports dropped 0.6%.
The report stated that in June 2025 “output in manufacturing and in the construction industry, in particular, was worse than expected. In addition, household final consumption expenditure for Q2 2025 has been revised downwards.”
2. US unemployment claims rise amid static layoffs environment
U.S. jobs numbers have been under more scrutiny lately following lower-than-forecasted July data. Last week more Americans filed unemployment claims than predicted, but economists say U.S. layoffs remain in a "historically healthy" range, according to ABC News.
For the week ending Aug. 16, 235,000 applications for unemployment benefits were filed. Economists use unemployment applications as a proxy for layoffs, and weekly unemployment applications typically fall in the 200,000 to 250,000 range.
ABC News also cites recent Bureau of Labor Statistics data showing unemployment in Washington, D.C., surpassed 6% in July, marking the city's third consecutive month leading the U.S. in unemployment.
3. AI brings new opportunities to hotels, but experts say demystifying the technology is key
Artificial intelligence tools and technology are gaining traction in the hotel industry, and experts urge understanding as hoteliers use it, reports CoStar News' Natalie Harms.
"Ready or not, it's here. People on your staff are using it, even if you think they aren't," said Lisa Targonski, director of commercial services of Elder Research. "I think the gaps are really about making sure we're asking the right questions, making sure that the data we're using to inform some of these decisions is solid, trusted data, and making sure that that data is interpreted in the right way."
4. Australian rugby star Bill Young acquires Gem Hotel
Retired Australian rugby player Bill Young purchased the 65-room Gem Hotel in Griffith, 375 miles west of Sydney, from hotel owner Jim Knox, according to the Financial Review.
Young paid AU$50 million ($30 million) for the hotel, which includes 65 rooms, the Bull & Bell Steakhouse and gaming machines.
Since his rugby-playing days, Young has been a hotelier and publican, and his portfolio includes six other hotels. Knox's portfolio includes a dozen venues.
5. Irish hotel transactions down 48% year on year
Hotel transactions in Ireland fell by 48% in the first half of 2025 in year-on-year terms. According to the Irish Examiner, hotel transactions in the first half of this year totaled €340 million ($395.5 million).
The biggest deal price so far this year was for Dublin’s 273-room Ruby Molly Hotel, for which Germany's Deka Immobilien paid €86 million. The highest price paid for a hotel outside of the Irish capital was the €21 million paid for the 160-room Whites of Wexford Hotel, Wexford, by Neville Hotels. The highest amount per key paid for a hotel in the period was €400,000 for the 100-room Fleet Hotel Temple Bar, Dublin, acquired by TMR Hotel Collection.