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RIU Reopens Hotel Riu Buenavista in Tenerife Following Complete Refurbishment
Preverisk Group | October 8, 2020
Preverisk Group, the international consultant specialising in health and safety consulting, auditing and training for the tourist industry, has guaranteed the effectiveness of the health and hygiene protocols in place at the RIU chain of hotels by issuing 62 COVID-19 Hygiene Response certificates. This certification guarantees that the chain’s hotels audited by Preverisk have passed an intensive process of verification of the 17 protocols that were created by the RIU team in collaboration with the consultant and that served as a guide for operations as the hotels reopened post-COVID. In addition, this certification guarantees that all the m
Viceroy Hotels Opens Hotel Zena, A Groundbreaking Hotel Dedicated to Female Empowerment, in Washington D.C.
Viceroy Hotels & Resorts | October 8, 2020
WASHINGTON, Oct. 8, 2020 - Viceroy Hotels & Resorts is changing the conversation in Washington D.C., and beyond, with the opening of Hotel Zena, a bold new cultural hub celebrating the accomplishments of women and recognizing their enduring struggle for gender equality. It's an interactive venue where every architectural line, material and art installation was thoughtfully designed and curated to send a message of female empowerment. Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8791651-hotel-zena-dedicated-to-female-empowerment-washington-dc/ Situated at the nexus of Downtown D.
Mission Pacific Hotel, A Joie de Vivre Hotel, and The Seabird Resort, A Destination Hotel, to Debut in Oceanside, California
S.D. Malkin Properties | October 8, 2020
CHICAGO (October 8, 2020) – Hyatt Hotels Corporation (NYSE: H) and Oceanside Beach Resort Owner LLC, an affiliate of S.D. Malkin Properties, proudly announce the naming of the new Mission Pacific Hotel and The Seabird Resort, both expected to open in Spring 2021 in Oceanside, Calif. The two adjacent hotels will be the newest and largest oceanfront resort development in San Diego County in more than half of a century, collectively spanning 700 feet of beachfront property. Along with immediate beach access, Mission Pacific Hotel and The Seabird Resort will offer guests a combined 387 guestrooms – most with water-facing views – as we
Fairfield by Marriott Doubles Footprint in Japan With Eight Hotels Slated to Open Across Four Prefectures
Marriott International | October 8, 2020
Marriott International today announced the planned openings of eight new Fairfield by Marriott properties in Japan, highlighting a vast expansion that more than doubles the size of the brand in the country. Sekisui House, a renowned Japanese developer, has partnered with Marriott International to further enhance their ‘Trip Base’ initiative – a project seeking to revitalize local sightseeing spots – with the opening of hotels alongside ‘Michi-no-Eki’ roadside stations. The Michi-no-Eki rest stop system was created over two decades ago to provide comfortable stop-over rest facilities for road trip travelers in Japan, situated close
10 New Creative Room Types to Boost Revenue
Cendyn | October 8, 2020
Try these new creative room types to boost revenue Hotel marketing has always been a blend of creativity and data. There’s equal parts of data-driven revenue management, copywriting and consumer psychology. At the start of the pandemic, marketing was put on hold at many organizations as operations adjusted to the new normal. Now, during a pandemic with hyper-local ebbs and flows, creativity reigns supreme. It’s a great time to experiment with new ways of making money! It comes down to finding creative ideas that can enhance your marketability without resorting to discounts. By providing value-added experiences, rather than rate cuts,
Baird/STR Hotel Stock Index Drops 7.1% in September
Baird | October 7, 2020
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index dropped 7.1% in September to a level of 3,329. Year to date through the first nine months of 2020, the stock index was down 36.8%. “Hotel stocks declined in September, which mirrored the broader market’s pullback,” said Michael Bellisario, senior hotel research analyst and director at Baird. “After significant absolute and relative gains in August, the September declines were modest in comparison. Investors have become more focused on a potentially slower economic growth outlook, an expected rise in coronavirus case counts as colder weather approaches, and t
Service Properties Trust Terminates Agreements With Marriott for 122 Hotels
Service Properties Trust | October 7, 2020
SVC Terminated Marriott Agreements for Failure to Meet 80% Termination Threshold for Cumulative Owner’s Priority Returns to SVC through August SVC Plans to Transfer the Management of 98 of the 122 Hotels to Sonesta SVC has Entered Agreements to Sell 24 of the 122 Hotels for $153 million NEWTON, Mass. - Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has terminated the management agreements for 122 hotels with Marriott International, Inc. (NYSE: MAR), or MAR. As previously announced, SVC sent a letter requesting MAR advance $11.0 million to cover the cumulative shortfall between the payments SVC had received to da
COVID-19’s Impact on the Denver Lodging Market
HVS | October 7, 2020
Amid a worldwide pandemic, the lodging industry is facing a downturn that is greater than the past two lodging-market declines combined. During the Great Recession, Metro Denver’s occupancy fell roughly eight points from 65% in 2008 to 57% in 2009; this year, we forecast occupancy to drop from the 2019 benchmark of roughly 74% to 42%, reflecting a 32-point correction. Average rate declined from $106 in 2008 to $93 in 2009, a 12% drop; this year, we forecast ADR to fall 30% ($135 to $96). Denver – 2020-2023 Forecast Source: STR (Historical Years) and HVS (Forecast) Major factors contributing to our forecast are summarized as follo