Dear Round-Up Readers, There is a lot of news with the passing of the $1 trillion infrastructure bill, COP26 and the US October jobs report out, with the WSJ reporting that 180,000 female workers joined the labor force in October. Exciting to see women getting back into the mix. Big news stories you need to know about: - The House passed a $1 Trillion Infrastructure Bill but put on hold the proposed 12-week paid family and medical leave program and climate efforts. The infrastructure program is the most ambitious since President Eisenhower and will impact everything from airports, bridges and roads to lakes and drinking water. Yet, now the US remains as one of only six countries NOT to offer a paid leave program. Worth reading is "When Women Are Left Out, We All Lose," by Sallie Krawcheck, CEO of Ellevest, who reminds us that five million women lost their jobs during the pandemic and the gender wealth gap is such that for every dollar a man owns, a woman has 32 cents (Black and Latina women have just one penny). She argues in three succinct points, that for society to improve, you need to get more money into the hands of women.
- COP26: pledges around deforestation, methane, and coal and the Glasgow Declaration for Climate Action in Tourism launched. Mixed results so far at COP26, with some big news from India and on deforestation, but lack of commitment from China, Russia, and Saudi Arabia, on coal and oil. An effort has been made by the UNTWO to have the travel industry commit to cut emissions in half by 2030 and achieve Net Zero by 2050 at the latest. But the big question remains are these promises enough to curb global warming, will countries enforce and track them? COP26 continues through November 12.
- Travel rebounds as Delta variant fades and US travel restrictions lifted November 8. If you're working in a hotel, you've likely seen spikes in bookings! Dow Jones U.S. Travel & Leisure Index jumped 4.6% Friday and is up 17% so far this year, Marriott and Hyatt reported increased earnings, with leisure travel up and growth in business bookings from small and medium companies, but labor continues to be a massive struggle.
- Labor trends: extreme hiring tactics, increased strikes and a banner jobs report. Companies are removing education and experience requirements and shortening the application process to less than five minutes in some cases even offering jobs within 10 minutes, according to the WSJ. And did you know last month was dubbed, "Striketober"? Employees are organizing and demanding better wages, better working conditions, and more benefits. Some good progress in that the U.S Economy added 531,000 jobs in October and lots were filled by women.
On hertelier this week: Mark your calendars: I'm going to be on a panel Wednesday, November 10 at 12:45 pm CST discussing hotel trends with amazing experts––Cornell Professor Lilly Jan, Forbes Travel CEO Filip Boyen, Hospitality Lead at JD Power, Andrea Stokes, and SVP of Lodging Econometrics, Bruce Ford. The panel is free and part of the two-day Global Hospitality Summit, organized by the International Hospitality Institute, sign up here Listen Up: It's been a heavy news week...so just for fun, you might like this new podcast from celebrated London restauranteur Ruthie Rogers of the iconic River Cafe. She interviews celebrities from Paul McCartney and Jake Gyllenhaal to Emily Blunt and Victoria Beckham on their favorite recipes and what their mothers cooked for them growing up. If you're a new subscriber, you may not know hertelier was featured by the Cornell University SC Johnson School of Business! Please CLICK HERE to read about the community YOU are helping to build for women in lodging! If you're still reading this, you must like hertelier...please help us grow by sharing the site with your colleagues and friends! Anyone can sign up for this weekly email here. Have a great week, Emily |
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