Labor union members held a rally on Wednesday in downtown Los Angeles where hotel workers and community activists asked for stricter short-term rental regulations. This was held in response to Airbnb’s host conference, starting today. To read more, click here.
This year’s Thanksgiving travel will reach a 9-year high, according to AAA. The company is forecasting that 48.7 million Americans will travel 50 or more miles away from home—a 1.9 percent increase. The increase could be attributed to economic improvements in the back half of 2016. To read more, click here.
Yesterday, San Francisco passed one of the strongest restrictions on short-term rentals in the country. Now, hosts are barred from having paying guests in a room, house, or entire apartment for more than 60 days per year. The legislation passed 6-2 by the Board of Supervisors. This serves as a response to concerns that property owners are running illegal hotels by hosting guests for extended periods of time. To read more, click here.
Trivago, the hotel search platform majority held by Expedia, filed yesterday for an initial public offering of up to $400 million. In July, Expedia’s Chief Executive Dara Khosrowshahi told investors that it was agreed Trivago would be valued as a standalone company. JPMorgan, Goldman Sachs, and Morgan Stanley are the underwriters to the offering. Read more here.
A week after the presidential election, hoteliers are considering the industry’s future. Across the board, it seems to be agreed that uncertainty is in the air, and it is difficult to gauge what will happen before Trump is inaugurated in January. Read more here.
Trump Hotel brands are still experiencing a decline in the consumer market, according to multiple studies. In an updated survey of the general internet population that was conducted in May, more than half of all consumers are still put off by the hotel company following Donald Trump’s political debut. To read more, click here.