Soho House slips in NYSE debut: Membership Collective Group, the company behind the Soho House, raised US$420 million in its IPO, floating at the lower end of its range at US$14 per share for its 28 Soho House clubs worldwide. The group’s primary franchise, Soho House, has a valuation of US$2.5 billion following the listing, per Bloomberg. Shares of MCG fell as much as 9.6% in its trading debut.
Oakwood near Beijing: Extended-stay operator Oakwood, Singapore, will open its first resort-style property near the 2022 Beijing Olympic Games. ??The newly built Oakwood Suites Chongli, with 137 units, is a private retreat in the State Villas of the central resort destination of Taizicheng, located at the center of the Winter Olympics Zhangjiakou Zone.
U.S. travel industry on Biden remark: A day after President Joe Biden said the U.S. is reviewing when it can lift the European travel ban, U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Emerson welcomed the remark and wrote in a statement that the U.S. travel industry urges the Biden administration to “swiftly revise its policies on international travel.” “We welcome the president’s remark, delivered today with German Chancellor Angela Merkel, that more information on the timing for lifting international travel bans could come ‘within the next several days’,” Emerson said in a statement. He mentioned that each day the outdated restrictions on travel persisted, it wreaked economic damage on the nation, not to mention the personal toll on individuals separated from their families. “Travel bans related to Canada, Europe and the U.K. alone cost the U.S. economy US$1.5 billion every week – enough to support 10,000 American jobs.”