The Securities and Exchange Commission estimates the plan will raise the cost to businesses to comply with its disclosure rules from $3.9 billion to $10.2 billion. The leap in expense equates to an ongoing additional cost of $420,000 a year on average for a publicly listed small company and $530,000 a year for a bigger firm, the SEC said.
A union representing hotel housekeepers is asking guests to request daily room cleaning as a way to secure housekeepers’ jobs and ease strain
Brookfield is set to acquire Watermark Lodging Trust in a $3.8-billion all-cash transaction, which includes 25 properties, including five Ritz-Carlton hotels.
U.S. consumer inflation eased in April to an 8.3% annual rate marked the first decline in eight months, down from an 8.5% annual rate in March.
Apartment rents have soared 58% in the Miami area over the past two years.
In fiscal year 2021, the IRS paid $3.3 billion in interest to tax filers, more than triple what it paid in 2015. For the fiscal year that started in October, refund interest payments through March are down 11% but still well above 2019 levels.
U.S. hotel gross operating profit per available room reached its highest level since November 2019. The GOPPAR of $83.81 was less than $10 shy of reaching the pre-pandemic comparable from March 2019.
The project is aiming to finish before the end of next year, though work may continue into 2024, with costs now are expected to run to more than $2 billion. That means the total acquisition and conversion costs will approach or potentially exceed $4 billion, making it one of the largest, most intricate and most expensive condo conversion and hotel rebuild projects undertaken.
