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1. Fed members detail why they're pushing for a rate hike
Two U.S. Federal Reserve members who recently voted in favor of rate hikes put out public statements this week pointing to persistent inflation as their primary concerns, CNBC reports.
“In my view, now is the time for the [Federal Open Market Committee] to act to speed the return of PCE inflation to our 2% objective and deliver on our commitment to price stability for the American people,” Cleveland Fed President Beth Hammack said. “The longer that high inflation persists, the more challenging and costly it can be to bring it back down.”
2. Meliá reports loss after shuttering Cuban business
Spain-based Meliá Hotels International reported a €7.5 million net loss from its exiting Cuba, although the company maintained a full, consolidated net profit of €4.1 million for the first half of 2026, Reuters reports.
International hotel firms have left Cuba en masse this year amid flagging travel demand and U.S. sanctions.
Meliá expects strong performance across its operations in Europe, Asia and the Caribbean. The company saw a 7.1% year-over-year increase in revenues to €1.04 billion in the first half of the year.
3. Pebblebrook sees strong quarter with pricing power, outperformance in San Francisco
Pricing power from events lead to a strong second quarter for hotel real estate investment trust Pebblebrook Hotel Trust, CoStar News' Bryan Wroten reports.
San Francisco, in particular, had a strong quarter, said Raymond Martz, president and chief financial officer. Same-property occupancy across that market grew by about 130 basis points to 79.4%, average daily rate grew 4.7% and revenue per available room grew by 6.5%. Total RevPAR increased by 4.7%.
“Nearly three quarters of our RevPAR growth came from rate, a meaningful shift from recent quarters when occupancy gains did most of the work,” he said. “As occupancy rebuilds, greater compression is giving our teams more pricing confidence, which is supporting higher room rates.”
4. Bank of Japan holds on rates, value of yen jumps
CNBC reports the Bank of Japan held interest rates steady at 1% this week, but the central bank warned inflation, currently hovering around 1.6%, is likely to increase above its 2% target for the second half of the year.
Reuters reports the country also saw a surge in the value of the yen Thursday, its biggest spike versus the dollar in four years, but analysts believe that was likely the result of government intervention.
"Markets have been on alert for yen-buying by Japanese authorities, who have warned of action for months as currency weakness exacerbates the cost-of-living impact of rocketing energy import prices," the news outlet reports.
5. MGM Resorts CEO joins Vail Resorts board
Bill Hornbuckle, CEO and president of MGM Resort International, has joined the board for ski resorts company Vail Resorts, according to a news release from Vail.
Hornbuckle is also the current chair of the U.S. Travel Association.
"Having spent my entire career in hospitality and as someone with a personal connection to the mountains, I have long admired the iconic destinations and exceptional experiences that define Vail Resorts," he said in the news release. "Throughout my career, I've been passionate about leveraging technology and digital innovation to elevate the guest experience while keeping guests at the center of every decision. I look forward to working alongside my fellow directors and the leadership team to help the company continue creating exceptional experiences and delivering long-term value for shareholders."