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1. Approved bill could allow thousands of short-term rentals in Maui
The Maui County Council voted 7-2 to approve Bill 88, which would create two new hotel zoning districts that allow thousands of short-term rentals to stay in operation, Maui Now reports. Mayor Richard Bissen still needs to sign the bill into active law.
The bill would allow active transient vacation rentals in the zone to continue operations as a grandfathered permitted use. In late 2025, the council voted to pass Bill 9, which was a measure to phase out vacation rentals in apartment-zoned districts.
2. Portman receives $540 million to develop Cincinnati hotel
Atlanta-based private developer Portman has closed on $540 million in financing to develop the Cincinnati Downtown Marriott hotel, CoStar News' Sean McCracken reports.
The new-build hotel will feature 700 rooms, 60,000 square feet of meeting space and a 17,000-square-foot events terrace. It will be connected to the First Financial Center, the city's convention center, via skybridge.
"The project is being delivered through a public-private partnership supported by the City of Cincinnati, Hamilton County (OH) and the State of Ohio, alongside private investment from Aimbridge Hospitality, which serves as manager and equity partner," a news release from Portman said.
3. World Cup driving mixed bag of hotel performance so far
The 2026 FIFA World Cup has led to mixed results so far for hotels in the host markets, CoStar News' Natalie Harms reports from the Hospitality Sales and Marketing Association International's Commercial Strategy Conference in San Antonio.
Data experts said cities that have their stadiums integrated into their city centers are performing better than those that are not. Kristi White, vice president of reporting, data and analytics at Groups360, said San Francisco and Silicon Valley is an example of a struggling host market with a stadium far away from the city center.
Non-U.S. host markets such as Toronto and Vancouver in Canada and Monterrey, Mexico, have been enjoying successful results through the first couple of weeks of the tournament. The group stage concludes on Sunday, and the knockout stage ends on July 19.
4. Europeans saving their money is hurting the economy
European consumers are keeping their wallets snug in their pockets amid inflationary pressures, leading to pain in the continent's overall economy, the Wall Street Journal reports.
"While Americans often have no problem maxing out credit cards, frugality is deeply ingrained [in Europe], particularly in northern parts of the continent. Longstanding societal norms of thrift and modesty, and lingering memories of wartime scarcity and inflation, have helped make saving an obsession and moral imperative. In both Dutch and German, the word for debt also means guilt," the newspaper reports.
Since 2019, U.S. household consumption has grown 18%, much more than in the eurozone (+5.5%).
5. AAA reports Fourth of July travel projections
AAA is projecting that 72.2 million Americans will travel at least 50 miles during the Fourth of July holiday period — June 27 through July 5. That would be a record amount of travelers, but only a half-percent increase from last year due to inflationary pressures.
The report said that travelers will look to offset costs by taking shorter vacations, considering the cost of driving compared to flying, and planning a cruise or all-inclusive resort where the costs are more defined.
“Vacations are one category where consumers are still willing to spend, even if that means cutting back on something else. With an extended holiday travel period, we expect busy roads, steady demand for flights, and continued interest in cruises across many parts of the country," said Debbie Haas, vice president of travel for AAA.