China passed a significant milestone last fall: For the first time since its economic opening more than four decades ago, it traded more with developing countries than the U.S., Europe and Japan combined.
SIX FUN
Six Flags (SIX) and Cedar Fair (FUN) are joining forces in a roughly $2 billion all-stock deal to form a powerhouse in the regional theme-park industry. Six Flags shareholders will receive 0.58 share of common stock in the new company for each share they own and Cedar Fair unit holders will receive one share for each unit they own. The company is structured as a master limited partnership.
WeWork Bankruptcy
WeWork is planning to file for bankruptcy as early as next week in what would mark a stunning reversal for the flexible-office-space venture that was once valued at $47 billion.
Commercial Lending
The entire commercial property debt market—including banks, commercial mortgage securities and nonbank lenders and others—increased less than 1% in the second quarter. That was the lowest quarterly rise since the first quarter of 2014.
Paid Time Off
Employers offer 80% of workers paid sick leave, up from 67% a decade ago. Paid vacation expanded to 77% of the workforce from 74%. And paid family leave, with the most dramatic jump, increased to 27% from 12%.
Holmes on CHH
“And it also is not really M&A. It seems like a desperate grab to try to solve problems that [Choice] has,” Stephen Holmes, chairman of the board of Wyndham said during Wyndham Hotels & Resorts’ third-quarter earnings call.
Q3 GDP
Gross domestic product grew at a seasonally- and inflation-adjusted 4.9% annual rate in the third quarter. That was the fastest rate since late 2021 and much stronger than economists were anticipating just a few months ago. The economy expanded 2.1% in the second quarter.
Data Centers
Developers are rushing to build hundreds of data centers, especially those with the high power and cooling systems that AI servers need. Blackstone, for one, has grown its data-center development pipeline to more than $15 billion from only $1 billion in two years.
Rent Algo
Two lawsuits, one against RealPage and one against Yardi, allege that the pricing systems enable an exchange of confidential pricing information to set rents across buildings and markets.
LA Initiative
If the proposed policy is passed, Los Angeles will be the first city in America to house the homeless and paying guests together in hotels. A poll indicated that 71% of Americans said they would be deterred from visiting Los Angeles for leisure or vacation if hotels were mandated to implement the policy.