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Tuesday's Afternoon Update
What you need to know about Florida today
Florida hotel revenues jump as consumers pay more
The nation’s COVID-battered hotel industry is on the rebound, with leisure travel revenue in the top 50 U.S. markets, including Fort Lauderdale, Miami, Orlando and Jacksonville, expected to exceed pre-pandemic levels of 2019, a national industry trade group declared Monday. But that translates into consumers paying more. All year, industry officials have noted that improving hotel revenues have meant higher prices for consumers as the industry struggled to snap back from a devastating travel slowdown that started in early 2020 and started to rebound last year. More from the South Florida Sun-Sentinel.
After Hurricane Ian: Q&A with official who oversaw Katrina recovery
Three days after Hurricane Katrina bludgeoned the Mississippi Gulf Coast, Ashley Edwards hiked four miles to see what had become of his house. Soon, Edwards would not only be going through his own personal recovery but also helping steer Mississippi’s long-term recovery efforts as deputy director, then director of the state’s Office of Recovery and Renewal. With the benefit of 17 years of hindsight, Edwards offered a hopeful glimpse into what recovery and renewal could look like for Florida’s Gulf Coast. More from Florida Today.
Duke seeks to pass along tax savings
Duke Energy Florida on Monday filed a proposal to pass along $56 million in savings to customers after passage of a federal law that provides tax breaks for renewable energy. Duke customers are expected to face increased electric bills in 2023. But the proposal, which was filed at the Florida Public Service Commission, would trim those increases. “We understand our customers need some relief, and this is an opportunity for Duke Energy to pass tax savings to our customers,” Duke Energy Florida State President Melissa Seixas said in a prepared statement. More from the News Service of Florida.
Florida among top 10 states for taking the most home loans
Existing home sales reached the highest level in 15 years in 2021, according to the National Association of Realtors. It was largely driven by record-low mortgage rates and the need for more ex-urban space after coronavirus pandemic restrictions. Thirty-year fixed-rate mortgage levels in 2021 topped out around 3.1%—lower than today’s near 6% rates driven higher by the Federal Reserve’s attempts to cool raging inflation in the housing market. More from the WFLA.
National Hurricane Center watching 5 tropical waves but no development expected over next 5 days
For the second day in a row, the National Hurricane Center is showing no tropical disturbances on its maps. "No new tropical cyclones are expected during the next five days," according to forecasters. The Hurricane Center is keeping an eye on five tropical waves, including two in the Caribbean. The peak of the 2022 Atlantic hurricane season runs from mid-August to mid-October. That doesn't mean tropical storms or hurricanes can't form after that time. More from the Sarasota Herald-Tribune.
Event
U.S. Senator Marco Rubio, challenger Rep. Val Demings face off in Tuesday debate
Republican U.S. Sen. Marco Rubio and Democrat U.S. Rep. Val Demings will hold their only statewide, televised debate on Tuesday at 7 p.m. Florida Trend is a member of the non-partisan coalition of partners sponsoring the event. “Decision 2022: Before You Vote” will air in Florida’s 10 major media markets and be streamed online at FloridaTrend.com/Decision2022.
Charitable Trends
Tampa biotech firm to give away $250K worth of products to schools
SynDaver Labs Inc., a Tampa biotech company that specializes in the creation of synthetic human and animal cadavers for medical testing and training, plans to give away $250,000 worth of products via its educational division, SynDaver Education, to schools, colleges and universities, as well as EMS and fire departments. The giveaway coincides with SynDaver’s launch of the next generation of SynTissue, a proprietary library of materials used to create the company’s models and products.
» Read more from the Business Observer.
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