News in Brief:

 

Hyatt sells Playa Hotels real estate portfolio to Tortuga Hyatt Hotels Corp. has agreed to sell the real estate portfolio of Playa Hotels Resorts, acquired in June, to Tortuga Resorts, a joint venture between KSL Capital Partners and Rodina, for $2 billion. The portfolio is comprised of 15 all-inclusive resorts in Mexico, Jamaica and the Dominican Republic. Hyatt and Tortuga will enter into 50-year management agreements for 13 properties, while two resorts are under separate contracts.  Full Story: Hotel Business (tiered subscription model) (6/30 Calif. hotel's Remedy Lounge features zero-proof drinks Estancia La Jolla Hotel & Spa in San Diego has enhanced its wellness focus with the Remedy Lounge, offering zero-proof drinks with health benefits. Lead mixologist Luis Tovar Zarate creates elixirs rich in vitamins and botanicals, catering to the "sober curious" trend. The hotel, recently renovated for its 20th anniversary, also features a world-class spa, botanical gardens and dining.  Full Story: Forbes (tiered subscription model) (6/25)  Hilton, Bridge partnership aids small hotel developers Hilton Hotels has partnered with Bridge, an online platform that connects businesses with lenders, to help smaller hotel developers secure financing amid a challenging lending environment. The partnership aims to streamline the application process for projects valued at $15 million or less, particularly for brands like Tru by Hilton and Home2 Suites.  Full Story: CoStar Group (6/26)  Adults-only Royalton Vessence brand to debut in Barbados (Sylvia_Kania/Getty Images) Blue Diamond Resorts has introduced Royalton Vessence, an adults-only sub-brand of Royalton, with the first property set to open in Barbados in summer 2026. Royalton Vessence Barbados, an all-inclusive resort affiliated with Marriott's Autograph Collection, will feature local art, wellness programs and unique amenities such as glow-lit pools.  Full Story: Travel Weekly (6/25)  Activist investor acquires stake in Tripadvisor Starboard Value has acquired a stake exceeding 9% in Tripadvisor, valued at about $160 million, making it one of the company's largest shareholders less than a year after the online travel company streamlined its ownership structure and bought out its majority stockholder, Liberty Tripadvisor Holdings. The activist investment group has pushed for operational changes at previous targets and the news boosted Tripadvisor's stock price.  Full Story: The Wall Street Journal (7/3),  Yahoo/Reuters (7/2)  Canada drops digital services tax amid US talks The Travel Technology Association is voicing concern about digital services taxes in countries such as France, India, Italy and the UK despite Canada rescinding a planned tax amid trade talks with the US. The taxes often exclude large suppliers, resulting in American companies paying approximately $880 million annually, and can lead to double taxation. "We hope that other countries will follow Canada's lead and work toward an international tax structure which is fair to all," says a Sabre spokesperson.  Full Story: Travel Weekly (7/3),  Fox Business (6/30)  CFOs: Half of business travel could go virtual (Jackyenjoyphotography/Getty Images) Of 600 CFOs surveyed by SAP Concur's 7th Annual Global Business Travel Report, 43% believe more than half of their company's travel could be replaced by virtual meetings, but 90% expect travel budgets to stay flat or rise in 2025. A majority of CFOs and travel managers agreed that companies are starting to cut back on premium perks and overnight stays.  Full Story: CFO (7/2)