Rebuilding trust in international travel
The recent World Economic Forum’s Sustainable Development Impact summit featured a session discussing how international travel has to evolve to be safer in order for public trust to be regained. Attendees stressed that if global travel and trade is to return to pre-pandemic levels, travelers will need a secure and verifiable way to document their health status as they travel and cross borders. One option is a health trust framework, for which trials will be piloted in October, in collaboration with major airlines and airports, with governments taking an observer role.
Two Silicon Valley hotels default on mortgages
Two hotels in California’s Silicon Valley have defaulted on their mortgages, suggesting economic issues due to the coronavirus may widen for hotels. The two hotels whose loans are in default, according to records, are the 208-room Wild Palms Hotel in Sunnyvale and the 91-room Hotel Avante in Mountain View. Both are part of the Joie de Vivre group owned by Hyatt Hotels Corp. Located next to major tech hubs in Silicon Valley, both hotels also rely greatly on patronage from high-tech companies in the area.