I have not heard the terms yet, but Hilton just settled with the San Diego labor union. The union did not share specifics, citing a non-disclosure agreement, but in a news release, it called the contract “life-changing.” “They asked me not to disclose the specifics, but I do feel comfortable saying that it’s significant wage increases that I think will really allow our members to be able to live in San Diego" Major urban markets from Boston to Honolulu are in complex union negotations and we generally expect wages to be reset meaningfully higher across all of these markets. It will impact union and non-union hotels in these locations. Investors...tread carefully. #lodgingforecasts #hotelinvestments https://lnkd.in/ezr5kNSE
