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1. Diesel prices rise to new record high
Prices for diesel fuel in the U.S. have more than doubled compared to last year, and the effect the increase is having on farmers will cause food prices to rise, too, Reuters reports.
Average diesel price per gallon hit a record $6.29 in the U.S., which is up 68% from $3.74 a year ago, per the article. The spike is a result of the country's involvement in the Iran War. According to the latest Consumer Price Index, food prices are already up, growing 2.7% in August compared to August 2025.
"The majority of our food moves on trucks and those trucks use diesel," said David Ortega, an economist at Michigan State University.
2. Labor Day shift pushes US hotel performance down
According to CoStar data, the U.S. hotel industry had negative weekly results in the week ending on Sept. 12. The dip reflects the shift in the Labor Day weekend. On a year-over-year basis, occupancy for the week fell 4.6% to 62.3%, average daily rate dropped 1.7% to $160.57 and revenue per available room declined 6.2% to $100.08.
Previously, the hotel industry recorded 22 weeks in a row of performance growth.
New York City had the biggest gains last week across all three of the key performance metrics, with occupancy rising 4.1% to 91.8%, ADR jumping 7.1% to $435.43 and RevPAR rising 11.5% to $399.60. Meanwhile, Las Vegas saw double-digit drops across all three metrics.
3. Hoteliers launch $30 million innovation fund
Alex Cabañas — along with his father, Burt, and Kirk Jones — launched a $30 million venture capital fund with a new firm called Astound Ventures, CoStar News Hotels reports exclusively. However, Cabañas said he wanted to cater the new fund to what the hotel industry needs, not start another run-of-the-mill tech VC fund.
"I'm looking for small dollars and huge impact. I'm looking for workhorses, not unicorns," he said. "I'm not interested in building, nor do I want to fund, a model that is much like typical VC, where you're just looking for the one breakout billionaire unicorn star. Our industry needs middle-sized, small-sized and large-sized solutions to truly drive adoption."
The firm has already made 10 investments and expects to add another five to 10 portfolio companies.
4. San Antonio to raise tourism hotel fee
On Thursday, San Antonio's City Council approved a request by Visit San Antonio to increase one of the fees guests pay at the end of their hotel stays, reports the San Antonio Express-News. The increase from 1.25% to 2% will mean a bump on average from $2 to $4 on guests' bills and will earn the city another $6.4 million annually.
The measure, which was approved unanimously, was instigated by Visit San Antonio to allow for the tourism group to more aggressively market the city's convention center by offering financial incentives such as rent discounts.
“The impetus is to remain competitive within our Texas market but even nationally,” Visit San Antonio CEO Mario Bass said of the increase.
5. Soothing green hue named top 2027 color
Sherwin-Williams and its sister brand HGTV Home by Sherwin-Williams selected Celery — a "fresh, bright, yet calming hue" — as the 2027 Color of the Year.
“Celery was chosen as the 2027 Color of the Year because it reflects today’s priorities: wellness, balance, and connection,” said Ashley Banbury, color marketing manager at Sherwin-Williams. “Homeowners and designers are increasingly prioritizing wellness at home, seeking soothing environments that support mental health and overall well-being. This shift has also fueled interest in eco-inspired design, with a greater emphasis on bringing elements of the natural world indoors through color, while a sustainability mindset is shaping preferences for hues that feel enduring."