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Hilton College Announces Winners of the First-Ever Hospitality Hackathon (HC3), Sponsored by HFTP
Hilton College | August 10, 2020
This summer, the University of Houston Conrad N. Hilton College of Hotel and Restaurant Management, in partnership with Hospitality Financial and Technology Professionals (HFTP®), challenged students in hospitality programs across the globe with the first-time Hilton College Hospitality Hackathon. The competition asked participants to tackle COVID-19 head-on and address the challenges it has posed to all sectors of the hospitality, travel and tourism industry, and to develop solutions to move it forward. "The response to our first HC3 Hilton College Hospitality Hackathon from hospitality programs around the world has been nothing short of
Opening New Revenue Streams in the Hospitality Sector
Mandeep S Lamba | August 10, 2020
By Mandeep S. Lamba, Dipti Mohan Innovation and creativity are often the by-products of a crisis. This pandemic is no different. The current crisis has forced the hospitality sector globally to come up with innovative and indigenous ways to utilize their assets to stay afloat, in the process opening newer revenue streams. From food delivery, laundry, housekeeping, and facility management to warehousing and more, hotels need to reimagine ‘hospitality’ by extending their services to guests in the comfort of their offices and homes. Most hotel chains have already ventured into food delivery and laundry services to entice customers in t
Hotel Demand and GDP Have a Strong Correlation and That’s a Problem
HotStats | August 10, 2020
Among the many delicious scenes from the movie “Goodfellas” is one where the characters of Ray Liotta and Joe Pesci burn down a restaurant because its credit has run out, putting an end to their graft. “And then finally, when there’s nothing left, when you can’t borrow another buck from the bank, you bust the joint out. You light a match.” What does this have to do with a hospitality-focused blog? It serves two functions. 1) Whenever you can introduce a “Goodfellas” quote into an article, you do it. 2) Substitute a hotel in for a restaurant, and a lot of owners right now might have the same inclination—figuratively, of co
IAC Invests $1 Billion for 12% Stake in MGM Resorts International
MGM Resorts International | August 10, 2020
NEW YORK, Aug. 10, 2020 -- IAC (NASDAQ: IAC) today announced its accumulation of a 12% interest in global hospitality and entertainment company MGM Resorts International (NYSE: MGM) for an aggregate of approximately $1 billion. "With the separation of Match Group from IAC, and 'new' IAC emerging with $3.9 billion of cash, no debt, and its opportunistic zeal intact, we are energized and excited to make this investment in MGM. What initially attracted us to MGM, besides its leadership in leisure, hospitality and gaming, was an area that currently comprises a tiny portion of its revenue – online gaming," said Barry Diller, Chairman
Baird/STR Hotel Stock Index Declines 1.7% in July to 3,010
Baird | August 10, 2020
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index decreased 1.7% in July to a level of 3,010. Year to date through the first seven months of 2020, the stock index was down 42.9%. “Hotel stocks underperformed again in July as industry-wide occupancy growth continued to moderate on a weekly sequential basis,”said Michael Bellisario, senior hotel research analyst and director at Baird. “Investors remain focused on the impact of rising coronavirus case counts on broader travel trends, and prior optimism about the prospects for business travel to return in a meaningful way this fall has faded.” “RevPAR decl
Hyatt Announces Face Coverings Requirement for Guests at Hotels in the Americas
Hyatt Hotels Corporation | August 10, 2020
CHICAGO (August 10, 2020) -- At Hyatt, the safety and security of our colleagues and guests is always a top priority. Guided by our purpose – to care for people so they can be their best – and following medical expert guidance to help reduce the spread of COVID-19, all Hyatt hotels in the Americas will require face coverings within indoor public areas, which include meetings and events spaces, restaurants and bars, and fitness centers. Guests are also required to wear face coverings while moving around in outdoor areas. Some guests may be exempt from this mandate, including but not limited to people with medical conditions, consuming f
IHG Signs With LQ Retail Sdn Bhd to Open Malaysia’s First Kimpton Hotels & Restaurant
IHG | August 10, 2020
IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, has signed a management agreement with LQ Retail Sdn Bhd to open Malaysia’s first Kimpton® Hotels & Restaurants in 2023 at The Exchange TRX – a new experience-led lifestyle destination. Kimpton now operates in more than 70 hotels and 85 restaurants, bars and lounges across urban locations, resort destinations around the world. From its playful and sophisticated design to award-winning restaurants and bars, Kimpton is known for creating immersive guest moments that are all about genuine human connections. The 471-room design-led Kimpton Kuala Lum
Handling Online Hotel Reviews in COVID-19
Susan Barry | August 10, 2020
By Susan Barry “Safety precautions and staff wearing PPE made me feel like everyone there had leprosy.” “They didn’t have valet parking, supposedly because of COVID. I don’t recommend you stay there.” “Hotel went overboard on COVID preparedness. Pool is closed for no apparent reason.” These are some of the more extreme examples of online reviews that have been written about hotels since the COVID-19 pandemic began. Even if your hotel hasn’t been put on blast for following local mandates, you have probably noticed an uptick in negative reviews and complaints. Pandemic-Specific Online Hotel Review Dynamics at Pl