News in Brief

 Shanghai: Timeless Wonder

A city full of stories

From historic landmarks to panoramic skyline views, Shanghai offers treasures at every turn. Stay at our participating hotels before August 31, 2026 and discover the city’s timeless charm. Register and book your stay by March 31. L.A. hotels cut jobs, reduce hours after wage ordinance   Los Angeles (Frankpeters/Getty Images) Los Angeles hotels have cut 6% of jobs and plan to reduce staff hours this year following the city's minimum wage ordinance for tourism workers, according to a survey by the Hotel Association of Los Angeles. The survey also found that some hotels might close restaurants and raise parking prices. However, Saba Waheed of the UCLA Labor Center notes that studies show minimal employment effects from minimum wage increases, and Kurt Petersen of Unite Here Local 11 argues that the wage hike stabilizes the workforce amid anticipated tourism growth. Full Story: MyNewsLA (Los Angeles) (3/3) Restrooms that don't slow things down. When traffic peaks, restrooms can't be the bottleneck. The elevated restroom collection is built for high-demand spaces—combining dependable products and smarter servicing insights to help keep operations moving smoothly. Learn More Noble Hospitality acquires Renaissance Reno hotel for $37M Noble Hospitality Fund V REIT has acquired the Renaissance Reno Downtown Hotel & Spa in Nevada for $37.4 million. The Marriott Bonvoy property features amenities such as a sports venue, fitness center, conference rooms and a restaurant. Full Story: Reno Gazette-Journal (Nev.) (tiered subscription model) (3/3), KOLO-TV (Reno, Nev.) (2/28) Portland Marriott sells for $30 million amid market slump The Portland Marriott Downtown Waterfront hotel has been sold for $30 million to Portland Waterfront Hotel Acquisition, reportedly connected to asset manager Sculptor. The hotel was previously purchased by DiNapoli Capital Partners for $82.7 million in 2013 but faced financial difficulties, including a $71 million loan from Bank of America, and struggled after the pandemic. Full Story: KGW-TV (Portland, Ore.) (3/3) Caliber eyes hotel portfolio growth after $13M sale Caliber has sold the Holiday Inn Ocotillo in Arizona for $13 million, with the proceeds to be used to expand its hotel portfolio through Caliber Hospitality Trust starting this year. Caliber CEO Chris Loeffler says the sale reflects the company's disciplined acquisition strategy and positions it for growth amid new market opportunities. Full Story: Yahoo/GlobalData (3/3) Unlock C-Suite Media Consumption Habits Want your B2B content to reach decision-makers? Discover how executives prioritize their own media consumption and what marketers need to do to get noticed in 2026. Access the full whitepaper today. Get the Insights >