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💸 Bank of England cuts interest rates to 4% from 4.25% on 7 August. This is the fifth reduction since last year's peak of 5.25%. The decision was made with a 5-4 vote by the Monetary Policy Committee. Inflation reached a near 18-month high of 3.6% in June, driven by transport and food costs, according to the Office for National Statistics. Inflation is forecasted to peak at 4.0% in September before declining towards the 2% target.
🏨 Brend Collection reopened Barnstaple Hotel after a £2m refurbishment following Storm Darragh damage in December 2024. The hotel closed in March 2025 for renovations, which updated guest areas and overhauled health and leisure facilities. New gym equipment, an exercise studio, and refreshed communal areas were introduced. The Arlington Suite was also refurbished. Insurance covered most repairs, but Brend invested in modernizing. Pearce Construction and Barton Scaffolding completed the work.
🏨 The Metropole Hotel in Cork reopened its refurbished ground floor and historic ballrooms after a year-long renovation of the 127-year-old landmark. The project revamped the entrance, lobby, and Merchant restaurant, and the ballrooms are available for events. Taoiseach Micheál Martin officially opened the space. A 1969 note from four tradesmen was discovered during renovations, with one signatory, John Keogh, attending the event. The hotel offers new summer packages for guests and locals alike.
🌎 Rosewood Hotels and Resorts will debut its first property in Dubai in 2029 within the Peninsula Dubai district in Jumeirah. The development features a 195-room hotel, eight private garden villas, and 63 residences, including five beachfront villas. Amenities include a private beach, beach club, four restaurants, wellness center, art and music program, and children's club. Residents access a concierge, spa, cinema, and more. Developed by H&H, the project is owned by Bright Start.
📍 Hotel Gabrielli in Venice will reopen on 25 August after major restoration. The hotel will feature a new culinary focus led by executive chef Mirko Pistorello.
📈 Expenditure by overseas visitors in Ireland dropped by 6% in June 2025 compared to the previous year, according to the Central Statistics Office (CSO). This decline has raised concerns among Irish hoteliers about the potential negative impact on Ireland's tourism sector. The data highlights a challenging period for the industry as it navigates decreased tourist spending.
🏨 Mandarin Oriental will open its second Dubai hotel in October 2025, located in the 63-storey Wasl Tower on Sheikh Zayed Road. The tower features 259 rooms and suites, 224 branded residences, and a rooftop helipad. It incorporates energy-efficient designs and the region's tallest ceramic façade. The hotel boasts Dubai’s first Mandarin Oriental branded residences, a two-floor spa, and ten international-themed restaurants and bars. Mandarin Oriental Jumeira is the existing site on Dubai’s waterfront.