From the desks of the Hotel News Now editorial staff:
- Japan floods kill 114 people; economic impact being assessed
- A look at possible outcomes of US-China trade war
- UK’s Brexit negotiator Davis suddenly resigns
- Marriott’s Linnartz on loyalty integration
- Hotels spend a lot to get rid of bed bugs
Japan floods kill 114 people; economic impact being assessed: Floods and landslides from severe rain swept through Japan over the weekend, killing at least 114 people with 61 people missing, Reuters reports.
The flood, labeled the worst in Japan since 1983, has left 11,200 households with no electricity, “while hundreds of thousands had no water,” the news outlet reports.
The impact the flooding will have on Japan’s economy is being assessed.
“I’m worried there could be a significant impact on production, consumption and tourism,” Toshiro Miyashita, Bank of Japan’s Fukuoka branch manager, who oversees Kyushu region, said during a news conference.
Hotels in Kyoto, Japan, were expected to be fully booked. But with the flooding, about 30% to 40% of reservations were canceled after an outdoor music festival was rained out, according to Tokyo-based newspaper Nikkei Asian Review.
A look at possible outcomes of U.S.-China trade war: Investors didn’t react much to the first shots fired in the trade war between the United States and China, Bloomberg reports. How bad the war gets depends on how far U.S. President Donald Trump decides to expand tariffs on Chinese goods.
When the U.S. implemented duties on $34 billion in Chinese imports, financial markets weren’t overly shocked. “For months, financial markets have been bracing for President Donald Trump to follow through with threats of tariffs against China,” according to Bloomberg.
Another round of tariffs on $16 billion in Chinese goods is currently being reviewed by the Trump administration, but Bloomberg Economics projects the impact to the U.S. economy and China’s economy will be modest if the “U.S. stops at duties on $50 billion in imports” and China does the same.
If Trump expands tariffs to $500 billion in Chinese goods, “economists say they can’t fully measure the indirect impact that could occur as the trade war escalates,” Bloomberg reports, but that could lead to a decline in U.S. financial markets.
U.K.’s Brexit negotiator Davis suddenly resigns: The minister responsible for negotiating Britain’s exit from the European Union, David Davis, resigned unexpectedly on Sunday, The Wall Street Journal reports.
Davis resigned following a cabinet meeting on Friday where a plan for Britain’s future relationship was sorted out. “The proposal, under which Britain would commit to following EU regulations for food and manufactured goods, has generated disquiet among some Brexit supporters who want a more fundamental break from the bloc,” the newspaper reports.
Davis leaving could mean Prime Minister Theresa May will attempt to leave her own conservative party, and Davis could be considered as a candidate to succeed her. It also could mean other pro-Brexit ministers will also leave.
On Monday, U.K. Foreign Secretary Boris Johnson also tendered his resignation over the British government’s Brexit approach, according to The New York Times.
Marriott’s Linnartz on loyalty integration: One of Marriott International’s top concerns following the 2016 acquisition of Starwood Hotels & Resorts Worldwide is integrating Starwood Preferred Guest into a unified loyalty platform with Marriott Rewards and Ritz-Carlton Rewards, HNN’s Sean McCracken writes. Marriott’s Global Chief Commercial Officer Stephanie Linnartz spoke with HNN to talk about the integration process and other consumer trends.
Following the announcement of Marriott’s acquisition of Starwood, Linnartz said SPG was a main talking point among consumers.
“SPG was the crown jewel, or at least one of them, from the Starwood organization,” she said. “It’s a powerful platform.”
Hotels spend a lot to get rid of bed bugs: Travelers are worried about staying in a hotel that has a bed bug infestation as the number of cases continue to grow across the U.S., but hoteliers are spending big bucks to get rid of these pests, Fox News reports.
According to the “Behind the cost of bed bugs: Hospitality industry report” from Orkin Pest Control released in 2017, hotels spend approximately $6,383 on eliminating bed bugs per incident, the news outlet reports. Litigation costs could lead to a cost of $23,000 per incident.
A single hotel faces an average of 7.1 bed-bug infestations over a five-year period, which could cost hoteliers more than $160,000.
Compiled by Danielle Hess.