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☆ Turkey's inflation passes 75% in what economists believe is peak
▼ + stars: | 2024-06-03 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Inflation in Turkey topped 75% in May in what economists expect to be the peak before prices start to ease. Consumer prices rose 75.45% in May on an annual basis and 3.37% on a monthly basis, according to the Turkish Statistical Institute, a government agency. Economists had previously forecast that inflation in the country of 85 million would peak around 75%. Turkey's central bank has kept its interest rate at 50% since March, citing the continuing need to counter climbing inflation in the country. The bank said at the time that "tight monetary stance will be maintained until a significant and sustained decline in the underlying trend of monthly inflation is observed."

Organizations: Turkish Statistical Institute Locations: Turkey

☆ Chinese companies are setting up shop anywhere but China — and the US
▼ + stars: | 2024-06-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

Chinese companies like social media giant TikTok and IT giant Lenovo are already globally competitive behemoths with compelling products. Admittedly, it's not a new move for Chinese companies to invest outside of China. Related storiesThis means Chinese companies will set up facilities overseas under their own brand or subsidiaries. In 2022, the German government blocked Chinese companies from taking stakes in two German chip companies, citing national security concerns and concerns over technology transfer. But even in today's complex geopolitical environment, Chinese companies are expected to continue venturing away from home, per EY.

Persons: —, Chris Pereira, it's, It's, Pereira, Loletta Chow Organizations: Service, Lenovo, Chery, Business, Intelligence, EV, US, EY, EY China Overseas Investment Network, & $ Locations: China, New York, Asia, New York City, Swiss, Southeast Asia, Europe, Africa, America, Qatar, Spain, Norway, EY China

☆ Go inside one of the world’s most iconic hotels: Raffles Hotel Singapore
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: +1 min

Few hotels are as synonymous with old world grandeur and colonial architecture as the Raffles Hotel Singapore — the hotel of choice for the city-state's visiting elite since it first opened in 1887. Built upon three hectares near the city's Central Business District, the hotel is itself a tourist attraction. Visitors stop to photograph its ornate façade or to sip a Singapore Sling at the drink's birthplace, the hotel's Long Bar. But half of the hotel is reserved for guests only, said Managing Director Christian Westbeld. Watch the full video to see more of Raffles Hotel Singapore.

Persons: Rudyard Kipling, Catherine , Princess, Christian Westbeld Organizations: Raffles Hotel, Central Business District, Sling, CNBC Locations: Raffles Hotel Singapore, Wales

☆ How American Express Became Millennials, Gen Z's Favorite Credit Card
▼ + stars: | 2024-06-03 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

But now, for a growing cohort of Gen Zers and millennials, it's their card, too. According to the company, millennials and Gen Z consumers made up 60% of its new customer acquisitions worldwide, and 75% of its new platinum and gold accounts were opened by millennial and Gen Z members. Related storiesAmex has implemented a number of tactics to pull off its youth revolution and cement its place as a status symbol among relatively affluent millennial and Gen Z consumers. For many young consumers, having an Amex rewards card is sort of like having a good, varied subscription service that runs them less than $60 a month. AdvertisementAll that aside, the Amex Platinum Card seems neat.

Persons: Gen Zers, youngs, it's, they'd, Amex, Zers, Gen X, Z, Steve Squeri, Jim Cramer, Gen Zs, Michael Miller, Uber, Miller, Daisy Hernandez, Guy, Stephen Biggar, Amex isn't, Chase Sapphire, I've, Emily Stewart Organizations: American Express, Express, Mastercard, Visa, American, CNBC, Morningstar Research, New York Times, Wall Street, Saks, Walmart, US, Argus Research, bodega, Business Locations: Coachella

☆ After Pipes Burst in Atlanta, Many Residents Lose Water, Then Patience
▼ + stars: | 2024-06-01 | by ( Rick Rojas | ) www.nytimes.com time to read: +1 min

A series of water main breaks in Atlanta caused widespread disruption on Saturday, as outages and severely reduced water pressure forced some businesses to close and infuriated residents who criticized city officials for failing to provide timely updates. Reports of interrupted service began on Friday after corroded water pipes burst near downtown; it was unclear exactly when the ruptures occurred. The disruptions continued into Saturday, with many people still experiencing very low water pressure. They said that the “system is gradually being brought back online,” allowing for water pressure to increase. The outages forced businesses to close or limit their services, and some hospitals had to divert patients and cancel certain procedures.

Persons: Megan Thee Organizations: Residents Locations: Atlanta, —

☆ Italy is bracing for a record wave of tourists, but is having trouble handling them
▼ + stars: | 2024-06-01 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

Tourists line a street in Venice, Italy, on Saturday, March 16, 2024. Italy is caught in an envious trap: it can't live without tourists, but it's having trouble handling the influx, particularly after Covid. He considers himself fortunate he's a boat driver: he pities the poor tourists who rent cars or try to find an elusive taxi. A general picture shows the main facade of the Pantheon in Piazza della Rotonda on March 30, 2024 in Rome, Italy. The famous Villa La Cassinella on the lake can be yours, for 100,000 euros a week.

Persons: Covid, Taylor Swift, Travis Kelce, there's, Croissants, it's, George Clooney's, Villa D'Este, Clooney, Villa, Uber, Rick Steves, Uber Van, Steves Organizations: Villa, Italian Association of Employment, Milanese, risotto Milanese, La Scala, Villa Oleandra Locations: Venice, Italy, Bellagio, Lake Como, Tremezzo, Paris, Piazza della, Rome, Milan, Marche, Sardinia, New York, Camparino, Villa, North America

☆ A homeless advocate of 40 years says finding homes for unhoused New Yorkers with vouchers has never been so hard
▼ + stars: | 2024-06-01 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

And the biggest program to help those in need of homes — the federal housing voucher system — isn't keeping up. With city shelters struggling, the government has set up more than 200 emergency shelters to house migrants, including in former jails and hotels. Greenberg said he decided to seek out homeless voucher holders after hearing from those who'd had an excruciating time finding an apartment. Ed Jones/Getty ImagesThe Interfaith Assembly set up a pilot program about six months ago to help homeless voucher holders find homes. Advertisement"I've spoken to landlords who want housing voucher holders, who've experienced some real damage to their apartments," Greenberg said.

Persons: —, Marc Greenberg, Greenberg, We're, Eric Adams, who'd, Ed Jones, they're, who've Organizations: Service, Coalition, Business, York, Interfaith Assembly, Homelessness, New, Apple, . New York, Assembly, Washington State Locations: York City, New York City, New York, . New, Oregon

☆ Mom of 2: My husband supercommuted from Minneapolis to NYC for 10 years—how we made it work
▼ + stars: | 2024-06-01 | by ( Megan Bearce | In Meganbearce | ) www.cnbc.com time to read: +7 min

The author, Megan Bearce, and her husband, Ian, had just moved from Los Angeles to Minneapolis when he got a job offer in New York City in 2010. I heard this question so many times over the 10 years my husband, Ian, flew weekly from our home in Minneapolis to his job in New York City. Ian posted photos and art on the walls of the New York City apartments he stayed in during the week when he supercommuted from Minneapolis. Visits to New York City helped the kids get a glimpse of Ian's life during the week, Megan says. The logistics of multiple activities felt too overwhelming for me to handle with Ian away during the week.

Persons: Megan Bearce, Ian, We'd, we'd, Ian didn't, Megan, Ian couldn't Organizations: New Locations: Los Angeles, Minneapolis, New York City, Brooklyn, Manhattan, Minnesota, Cape Cod

Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in New York City on Sept. 28, 2023. Billionaire investor Bill Ackman is selling a 10% stake in Pershing Square, aiming to eventually take his investment firm public. Pershing Square had $18.6 billion in total assets under management as of the end of April. Most of its capital is in Pershing Square Holdings, a closed-end fund that trades on European stock exchanges. Ackman has become one of the world's most prominent hedge-fund investors after years of market-topping returns and vocal activist campaigns.

Persons: Bill Ackman, eyeing, Ackman, Ryan Organizations: Pershing, Capital Management, Delivering Alpha, Billionaire, Street Journal, Ryan Israel, Pershing Square Holdings, New York Stock Exchange, Grill, Hilton, Herbalife Locations: New York City, U.S, Israel, North America

☆ On the Brazilian Coast, a Tropical Town Beloved by Artists and Makers
▼ + stars: | 2024-05-31 | by ( Nora Walsh | ) www.nytimes.com time to read: +3 min

Sign up here to find us in your inbox once a month, and to receive our weekly T List newsletter. Roughly halfway between São Paulo and Rio de Janeiro, the coastal town of Paraty (population 45,000) isn’t the easiest place to reach. It’s that relative seclusion that keeps the tourist hordes and unbridled development at bay, despite the town’s obvious appeal. African slaves not only worked in the mines but built much of the town’s early infrastructure, such as its roads. At the end of the 19th century, Santos, 190 miles to the south, supplanted Paraty as the country’s primary coffee-exporting port, and the town began to languish.

Persons: São, Luana Assunção, ”, Dom João, “ You’ll Organizations: São Paulo, Free Walker Tours Locations: tlist@nytimes.com, Rio de Janeiro, Paraty, Costa Verde, Ilha Grande, CHEE, Minas Gerais, Santos, “, Rio, Orleans

☆ Spanish tourist town bans sex dolls and genital costumes for bachelor and bachelorette parties
▼ + stars: | 2024-05-30 | by ( Lianne Kolirin | Al Goodman | ) edition.cnn.com time to read: +2 min

CNN —Badly behaved bachelor and bachelorette partygoers could soon face heavy fines if they overstep the mark in a Spanish resort town. The authorities in the town of Platja d’Aro, on Spain’s Costa Brava and around 60 miles northeast of Barcelona, have introduced fines for anyone daring to go out in public in costumes depicting genitalia or carrying sex dolls. Platja d’Aro has a population of 12,500, but on summer weekends it can draw in around 150,000 visitors a day. The town council this week approved the new fines and said it would hire more police to enforce them. Police will issue a penalty, but alleged offenders could appeal and would not have to pay on the spot, the city hall spokesman said.

Persons: bachelorette partygoers, Platja d’Aro Organizations: CNN, City Hall Locations: Spanish, Platja, Costa Brava, Barcelona, Spain, Mallorca, Balearic

☆ These S&P 500 stocks are cheap and well-liked by analysts heading into June
▼ + stars: | 2024-05-30 | by ( Pia Singh | ) www.cnbc.com time to read: +8 min

The company has a low forward price-to-earnings ratio of roughly 8.6. Ulta Beauty also made the screen as a cheap stock that analysts are bullish on. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet. Online pickup orders inside an Ulta Beauty store in the Upper East Side neighborhood in New York, US, on Monday, Nov. 27, 2023. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet.

Persons: Jefferies, Trevor Williams, We're, FactSet, Stifel, Ulta, General Motors, Bing Guan Organizations: Dow Jones, Nasdaq, CNBC, Financial, Global Payments, Jefferies, JPMorgan, Cadillac, Chevrolet, General, FedEx, Halliburton, Gilead Sciences, CVS Health, Bloomberg, Getty, CVS, Epam, Motors, HAL Halliburton, Resorts, JBL, LKQ, Vegas Sands Corp, MGM MGM Resorts International, LSEG Financial, Inc Locations: Gilead, New York

☆ I've been to 20 Caribbean islands. Here are 7 mistakes first-time visitors should avoid making.
▼ + stars: | 2024-05-30 | by ( Mariette Williams | ) www.businessinsider.com time to read: +6 min

In fact, tourism is off to a strong start in 2024, with many islands seeing an increase in visitors compared to 2023. However, as someone who's been traveling to the Caribbean for the past two decades, I've observed some common mistakes first-time visitors make. If you're planning a trip to the Caribbean and want to maximize your experience, here are some mistakes to avoid making while visiting. Mariette WilliamsThe Caribbean is full of gorgeous resorts, but one of the biggest mistakes I see first-time visitors make is never leaving the property. Mariette WilliamsFirst-time visitors to the Caribbean may be surprised to find that, for the most part, life seems to move slower on the islands.

Persons: —, who's, I've, Mariette Williams, Mariette Williams There's, Bathsheba Organizations: Service, Business, Caribbean Locations: Caribbean, Falls, Jamaica, Puerto Rico, Old San Juan, San Juan, St, Lucia, Dominica, Caicos, Bahamas, Antigua, Croix, Aruba, Kitts, Nevis, Barbados, Grenada, Curaçao, Bonaire

☆ So Close to Sicily, So Far From the Crowds
▼ + stars: | 2024-05-29 | by ( Amy Tara Koch | Paolo Pellegrin | ) www.nytimes.com time to read: +1 min

For years I had been hearing about the island of Pantelleria, the craggy, hard-to-get-to Eden with middle-of-nowhere tranquillity that sits 89 miles southwest of the island of Sicily and about 50 miles east of Tunisia. Luca Guadagnino’s 2015 film “A Bigger Splash” painted a seductive idyll of mud baths, romantic ruins and secluded swimming coves. Celebrities like Madonna, Sting and Julia Roberts visited, drawn to the striking, Africa-meets-Italy ambience, along with Giorgio Armani, a part-time resident since 1980. The fact that nobody was impressed by them added to the allure. The beauty is in the slow pace and the wild landscape.”

Persons: Luca Guadagnino’s, Sting, Julia Roberts, Giorgio Armani, ”, Sciascia Gambaccini Locations: Pantelleria, Eden, Sicily, Tunisia, Africa, Italy

☆ Five New Hotels and Spas Built for Bathing
▼ + stars: | 2024-05-28 | by ( Gisela Williams | ) www.nytimes.com time to read: 1 min

In the ever-expanding wellness world, one of the latest trends is actually one of the oldest: soaking in, and sometimes drinking, therapeutic waters. In ancient Greece, physicians, including Hippocrates, prescribed mineral-rich baths to treat everything from skin diseases to insomnia. (According to one theory, the word “spa” is an acronym of the Latin phrase “sanus per aqua,” meaning “health by water.”) The practice has also been employed in Asia since at least the sixth century A.D., when nomadic Buddhists are said to have brought the concept of onsen (inns and bathhouses built around natural geothermal pools) to Japan from the Korean Peninsula. Now, with various forms of hydrotherapy, such as cold plunges and steam saunas, making a comeback, wellness entrepreneurs are debuting properties centered on bathing. Here, five places to take a dip.

Persons: Hippocrates Locations: Greece, Asia, Japan

☆ 7 remote and hybrid companies that will pay for your vacation—they're all hiring
▼ + stars: | 2024-05-27 | by ( Morgan Smith | ) www.cnbc.com time to read: +1 min

A majority, 78%, of U.S. workers say they don't use all of their PTO, according to a new Harris Poll survey of 1,170 American workers. People cited busy schedules, heavy workloads and a persistent "pressure to always be available" as the biggest impediments to taking more time off. Still, paid time off is a sought-after benefit among U.S. workers, with 48% saying they would rather have more PTO than a higher salary, the Harris Poll found. Others are offering to help offset the cost of employees' vacations, either with flight or hotel credits. If you're looking for a flexible job that will allow you to work remotely and help you afford to travel more, these seven companies are hiring for remote and hybrid roles and help pay for employees' vacations, according to FlexJobs:

Organizations: Harris Locations: U.S

☆ Dubai Old Town: Dubai’s ‘soul’ is about more than historic buildings
▼ + stars: | 2024-05-27 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +11 min

So in 2016, Badran set up her own tour company, Wander with Nada, to “show a different side of Dubai” to travelers. Her bespoke private tours are designed to suit the interests of each visitor, but her favorite itinerary is Dubai’s “old town,” a group of small neighborhoods around Dubai Creek where the city began and Badran spent her childhood. Badran leads me through the narrow alleys around the Dubai Old Souk, home to stores run by Indian-origin families. Stores in Old Dubai Souk. “Dubai is about opening your mind,” Badran says, “and embracing this diversity that makes it unique.”

Persons: Nada Badran, Badran, “, ”, Nada, Rebecca Cairns, Al Maktoum, Sheikh Mohammed bin Rashid Al Maktoum, Al Talli, There’s, —, it’s, ” Badran, Al Shindagha, Al, Djamel Boussaa, ” Boussaa, hasn’t, Rashid Haghaght, Al Karama, ” “ Organizations: CNN, “, United Arab Emirates, Dubai, Heritage, UNESCO, Al Shindagha, Trading Locations: Florence, Dubai, The, Arabian, “ Dubai, ”, Rome, Athens, Edinburgh, UAE, Oman, today’s Iraq, Bani Yas, Al Shindagha, Suadna, South, West Asia, Al, Saudi Arabia, Al Fahidi, Jordan, Deira, Isfahan, Old Dubai, Abu Dhabi, Sharjah, Al Rigga, Souk, Old Dubai Souk, Jebel Ali, Iran, India, China

☆ I go to Disney World all the time and always stay on the property. These 9 hotels give you the biggest bang for your buck.
▼ + stars: | 2024-05-27 | by ( Jordyn Bradley | ) www.businessinsider.com time to read: +1 min

The three All-Star Resorts are usually my go-to. All-Star Movies probably has the most Disney touches. Kim Renfro/INSIDERI often stay at one of the three All-Star Resorts (All-Star Movies, All-Star Music, or All-Star Sports), which share one property at Disney World. They're usually the cheapest resorts and have the same general perks as the expensive ones. But there are family suites available at All-Star Music, and that's easily the cheapest way to accommodate a larger party at Disney World.

Persons: Kim Renfro, that's Organizations: Star Resorts, Disney, Sports

☆ Americans are expected to splurge on travel this summer — again
▼ + stars: | 2024-05-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Analysts are expecting the Memorial Day weekend to usher in yet another summer of strong consumer spending on travel and other leisure activities. “We haven’t seen Memorial Day weekend travel numbers like these in almost 20 years,” Paula Twidale, senior vice president at AAA Travel, said in a release. Spending this summer will likely be a little softer than last year’s, they said, but still strong. The bank’s consumer travel survey showed that 72% of people said they’re planning to travel, with 36% saying they’ve already planned their trip. Even among respondents making less than $75,000 a year, more than 60% said they’re planning to travel this summer.

Persons: ” Paula Twidale, Royal Caribbean’s, ” David Tinsley, they’ve, Joelle, aren’t, Dogecoin, Shiba Inu “, Atsuko Sato, ”, Sato, ” Kabosu, Kabosu, Shiba, Loretta Mester, Neel Kashkari, Lisa Cook, Robin, John Williams, Raphael Bostic, Lorie Logan Organizations: CNN Business, Bell, Washington CNN —, Transportation Security Administration, AAA, AAA Travel, Bank of America Institute, Bank of America, Japan, Europe, New York Fed, Public Policy Research, Mizuho Financial, Federal, Global, Index, Board, HP, Dick’s Sporting Goods, Abercrombie, Fitch, Eagle Outfitters, Costco, Dell, Dollar, Hormel, US Commerce Department, US Labor Department, National Association of Realtors, China’s National Bureau of Statistics, Atlanta Fed Locations: Washington, Caribbean, South Korea, Switzerland, Colombia, Costa Rica, Canada, Mexico, Domestically , California, Florida, California, “, Sakura, CAVA, Chewy, Burlington, Birkenstock, Nordstrom, Kohl’s

☆ Millennials and Gen Zers want human connection, so they're choosing travel tours with strangers to cure their loneliness
▼ + stars: | 2024-05-26 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +6 min

The average Intrepid Travel group has 10 people. AdvertisementIt also allows people to form new bonds in a tight-knit setting, which young travelers crave, after the COVID-19 pandemic. The average Intrepid Travel group has 10 people. jacoblund/Getty ImagesBerna said Intrepid Travel began receiving requests from people in their 30s looking for adventures off the beaten path. Intrepid Travel said they saw 172% increase globally in bookings to South Korea from 2022 to 2023.

Persons: —, Gen Zers, it's, Stephen Simpson, Matt Berna, Intrepid, Berna, crave, Gen, Brian Chesky, They've Organizations: Service, Business, Intrepid, Intrepid Travel, Travel, Japan Locations: Morocco, Sri Lanka, Americas, millennials, Paris, Vietnam, peddle, America, Peru, South Korea, Korea

☆ From Waiter to Guest at Nantucket’s Grande Dame Hotel
▼ + stars: | 2024-05-26 | by ( Alexander Lobrano | ) www.nytimes.com time to read: +1 min

In the summer of 1974, I was working as a waiter at the White Elephant, the grande dame of Nantucket hotels, a rambling gray-shingled pile that sits right on the island’s harbor. Thinking about it still makes me cringe. I had not been back inside the White Elephant in almost 50 years when, last spring, I returned to the island to check into the famous inn as a guest, size up its recent multimillion dollar makeover at the hands of the Boston architectural firm Elkus Manfredi, and ponder the ways in which both the island and I had changed. Though it’s hard to believe today, when Nantucket airport is filled with rows of private planes that have delivered their owners to this island 30 miles off the coast of Cape Cod, many people clucked at Elizabeth T. Ludwig’s hotel when it opened a century ago. Without the social cachet of more accessible resorts like Newport, R.I., or Saratoga Springs, N.Y., it struck many people as folly to believe the swell set would spend their holidays on Nantucket.

Persons: Francis Sargent, I’d, Elkus Manfredi, Elizabeth T Locations: Nantucket, Massachusetts, Boston, Cape Cod, Newport, R.I, Saratoga Springs, N.Y

☆ Savoring the Summer at 5 Waterside Hotels
▼ + stars: | 2024-05-26 | by ( Stephanie Rosenbloom | ) www.nytimes.com time to read: 1 min

At this luxury escape in White Lake, N.Y., about a two-hour drive from Manhattan, immerse yourself in more than 100 acres along the Toronto Reservoir. Or better yet, get into the reservoir and go paddle boarding, canoeing, kayaking and swimming. And because the Chatwal Lodge is set within the approximately 2,500-acre Chapin Estate, you can also fly-fish on private trout streams there. On dry land, pretend you’re back in summer camp and try archery, birdhouse decorating, baking classes and yoga. Or visit the recreation center where you can play shuffleboard, duckpin bowling, ping pong, billiards and board games.

Locations: White Lake, N.Y, Manhattan

☆ The world’s best countries for tourism, according to the World Economic Forum
▼ + stars: | 2024-05-25 | by ( Lilit Marcus | ) edition.cnn.com time to read: +5 min

CNN —The United States has just won a significant honor – being named the world’s best country for travel and tourism in 2024 by the World Economic Forum. Europe in the leadSix of the top 10 countries on the list are in Europe, with Spain the highest overall. The country knows it has the world’s eyes looking its way ahead of the Summer Olympics in Paris this year. For 2024, six countries share the number one ranking – France, Germany, Italy, Japan, Singapore and Spain. leonovo/iStock Editorial/Getty ImagesThe top 10 countries for tourism, according to the World Economic Forum1.

Persons: –, It’s, Yongyuan Dai, ” Organizations: CNN, World Economic, Economic, Henley Index, –, Asia “, United Locations: United States, Europe, Spain, France, Paris, – France, Germany, Italy, Japan, Singapore, Shanghai, China, Asia, Ireland, Switzerland, Netherlands, American, Canada, Australia, Bondi, Barcelona, Venice, Bolzano, Tyrol

☆ Palm Beach housekeepers are raking in $150,000 salaries as the rich flock to Florida, report says
▼ + stars: | 2024-05-25 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

Some housekeepers in parts of Florida are earning $150,000 salaries, CNBC reported. Real-estate prices in the Sunshine State have surged as millionaires flock to the area. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementExperienced housekeepers in parts of Florida are enjoying huge salaries of between $120,000 to $150,000, CNBC reported. Demand for such positions has surged in areas like Palm Beach as the rich continue to flock to Florida from high-tax states such as New York.

Persons: — Organizations: CNBC, Sunshine State, Service, housekeepers, Business Locations: Florida, nannies, New York

☆ Rise of resort day passes offers travelers luxury on a budget
▼ + stars: | 2024-05-25 | by ( Micah Washington | ) www.cnbc.com time to read: +5 min

Day passes at hotels and resorts offer guests access to amenities without the cost of reserving a room. Hotels and third-party partners are making day passes more readily available to help bridge the gap between travel-minded consumers and luxury prices. Luxury hotel room rates in July are expected to be 85% higher than the same month in 2019, before the Covid pandemic, according to the luxury travel company Virtuoso. Berg said day passes "give people exactly what they want" and provide a separate source of revenue for hotels. Customers who buy day passes through ResortPass often splurge on poolside or other hotel amenities more than overnight guests do, Wolf said.

Persons: Lora Bowler, Bowler, she's, Hayley Berg, Hopper, Berg, Sarah Payton, Michael Wolf, Wolf, ResortPass Organizations: The New, Booking.com, Consumers, Virgin Hotels, Empire, ResortPass, Waldorf, Astoria, JW Marriott Locations: The, The New York, U.S, Virgin Hotels New York City, Manhattan's Koreatown, Fontainebleau, ResortPass

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