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1. US, China agree to resume trade truce
After two days of negotiations in London, the United States and China have agreed to return to a trade truce reached in May and roll back measures taken against each other's economies, the New York Times reports.
The agreement is expected to harken back to the terms agreed to last month before it started to unravel as China restricted shipments of rare earth minerals and magnets to the U.S. According to the newspaper, China agreed to begin sending the U.S. rare earth minerals once again while the U.S. will scale back its tariffs on Chinese imports to 55%.
Top officials from both sides will present the new framework to their leaders, U.S. President Donald Trump and China's Xi Jinping, for final approval.
2. Ryman closes on JW Marriott Phoenix deal
Ryman Hospitality Properties officially closed on the acquisition of the JW Marriott Phoenix Desert Ridge Resort & Spa, according to a news release. CoStar News Hotels' Stephanie Ricca reported on May 20 that Ryman Hospitality agreed to acquire the 950-room property for $865 million from Trinity Investments.
“I want to thank the Ryman team and the sellers, Trinity Investments, for their collaboration in executing an efficient and successful closing. We are excited to begin integrating this premier resort into our differentiated, group-focused portfolio, and we look forward to pursuing compelling value creation opportunities at this beautiful property and across our one-of-a-kind portfolio," Ryman Hospitality President and CEO Mark Fioravanti said in the release.
3. AHLA president on tax cuts, labor
Ensuring tax cuts for small businesses at the federal level and continuing to push back on wage hikes at the local level are two of the top priorities for the American Hotel & Lodging Association this year, its President and CEO Rosanna Maietta said during a podcast interview with CoStar News Hotels' Sean McCracken at the 2025 NYU International Hospitality Investment Forum.
Maietta said she is focused on protecting the hotel industry in budget legislation. This includes maintaining tax cuts for businesses made in the Tax Cuts and Jobs Act from 2017.
"Without that, there would be a tax hike for half of the small business owners in the country of upwards of 20% to 25%, which which would put many out of business," she said. "So we really need to make sure that that stays included."
4. US inflation up slightly in May
Consumer prices in the U.S. were up 2.4% year over year in May, up from 2.3% in April, the Associated Press reports. According to U.S. Department of Labor data, core prices excluding food and energy categories were up 2.8% for the third consecutive month.
"The figures suggest inflation remains stubbornly above the Federal Reserve’s 2% target, which makes it less likely that the central bank will cut its key short-term interest rate. President Donald Trump has repeatedly urged the central bank to reduce borrowing costs," the AP reports.
5. Voice of Motel 6 sues company
Tom Bodett, author and voice actor known for voicing the Motel 6 slogan "We'll leave the light on for you," has sued the motel company for using his name and voice without permission in its national reservation phone line, Reuters reports. Bodett said in his complaint he cut ties with the company after its new owner, OYO, missed a $1.2 million annual payment due on Jan. 7.
He seeks $1.2 million plus additional unspecified damages and a share of profits in the lawsuit.
"We appreciate Mr. Bodett's contributions over the past years," a spokesperson from Motel 6's parent company, G6 Hospitality, told Reuters. "Of course, we will continue to advertise keeping the lights on for you."