Market Update

Market Update | Aug 12

Jon Granston | October 14, 2025

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Top Headlines: Delivered by Leonard Steinberg

August 12, 2024

01 In New York, average hotel room rates are up 22.5% from 2019 and hotel occupancy was roughly 80% through May. The state comptroller’s office expects 68 million visitors to the city in 2025, exceeding a record-setting 66.6 million in 2019.

(WSJ)

02 "We probably went a bit too far too fast in raising prices."

– Gerry Murphy, Burberry (FT)

03 A CNN study found that 86% of current renters in the United States can’t afford to buy a home....which means 14% can.....

(CNN)

04 Education can make all the difference: The wealthiest send their kids to schools that teach all about advanced finances.... The $160,000 a year Institut auf dem Rosenberg in St. Gallen, Switzerland, one of the most expensive boarding schools in the world, cover the subjects of wealth creation, philanthropy, family businesses and succession management, more than merely basic budgeting and managing credit. More US schools are tackling the subject of financial literacy. Even the basics matter!

(CNBC)

05 Imagine wandering through a beautiful garden and happening on a crystal clear pond, and diving in for a refreshing swim..... Till recently most swimming pools were bright blue David-Hockney-style. The most obvious influence behind this quieter aesthetic is the natural swimming pool — a German import. Self-trained advocate David Pagan Butler has taught hundreds of homeowners how to make their own chemical-free pools, relying on native plants — water mint, flowering rush — to keep the pool water clean. These pools blend into the landscape rather than dominating it.

(FT)