Hotel Industry Disruption

You can ask my wife, I always wondered what went on with hotels and unused rooms. For years we lived in a major business district bespotted with hotels. Of course when came around that was a good enough answer for me, but then came AirBnB, and now AirBnB is worth more than most hotel chains despite being a private company, and holding no real estate. That is a major disruption. However, there is more ahead. Hotels are at times cumbersome real estate holdings, and that costs money. They are also service based, and that takes employees. Those perceived margins get thinner by the moment. See the link below for a more in depth look into the hotel industry shakeup.

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FX Swaps Last Week Cenbanks

The Federal Reserve provided $6 million of liquidity to foreign central banks in the latest week via its swap lines for foreign central banks, the New York Fed said on Thursday. The European Central Bank swapped $5 million with a term of 7 days and a rate of 0.87 percent. The Bank of Japan swapped $1 million with a term of 7 days and a rate of 0.85 percent. The Federal Reserve has established swap arrangements with the Bank of Canada, the Bank of England, the European Central Bank, the Swiss National Bank, and the Bank of Japan in an effort to respond to the reemergence of strains in short-term funding markets in Europe. - RTRS