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HSMAI Offers Education & Knowledge Scholarship Program
HSMAI | May 15, 2020
The Hospitality Sales and Marketing Association International (HSMAI) is supporting hospitality professionals during the coronavirus pandemic and is preparing the industry for recovery. HSMAI is proud to announce the Education & Knowledge Scholarship Program, an initiative that provides discounts and scholarships for HSMAI educational resources and certifications. “We must remain focused on supporting our colleagues as we navigate uncharted territory,” said Robert A. Gilbert, CHME, CHBA, President and CEO of HSMAI. “By investing in hoteliers’ education, we are investing in the future and recovery of the hospitality and tourism
WTTC Welcomes European Commission Guidelines to Safely Restart Travel & Tourism in Europe in 2020 and Beyond
May 15, 2020
London, UK: The World Travel & Tourism Council (WTTC), has welcomed a major new EU initiative which aims to help restart summer holidays across Europe in 2020 and beyond, and save millions of jobs in the Travel & Tourism sector. The European Commission’s Tourism & Transport Package has been designed to ensure a coordinated approach at a European level, to ease restrictive measures and restore mobility. The move by the European Commission is hoped to herald a phased restart of travel across Europe this summer, while ensuring the safety and health of travellers and those who work in the Travel & Tourism sector. The in
Karisma Hotels & Resorts Kicks Off ‘Holidays for Your Heroes’ Initiative With Donation of 150 Resort Stays to Essential Workers and Their Fam...
Karisma Hotels & Resorts | May 14, 2020
MIAMI, FLORIDA (May 7, 2020) – Karisma Hotels & Resorts, the award-winning luxury hotel collection with properties in Latin America, the Caribbean and Europe, today announced its Holidays for Your Heroes initiative donating 150 luxury all-inclusive resort stays to essential workers and their families through its Karisma Foundation and partners. The vacations provide heartfelt thanks for the tireless work of those in the healthcare, delivery and other frontline industries, giving them something to look forward to, in addition to much-needed rest and relaxation. Karisma has opened a public call to nominate everyday heroes who are deservi
Post-COVID Brokers Opinion of Value
Avison Young | May 14, 2020
ATLANTA – May 14, 2020 – Avison Young Hospitality Group presents a new Post-COVID Brokers Opinion of Value Format. The hospitality industry has been shaken to its core over last several months by the Covid-19 pandemic and the global economic shutdown the virus has left in its wake. Markets across the country and the world have seen business grind to a halt, with hoteliers in every corner of the globe feeling immense economic pressure from the drastic loss in business. We at Avison Young understand the hotel owner’s need for a property specific presentation they can use for their partners, investors and lenders that demonstrates vi
AHLA Statement on Heroes Act
AHLA | May 14, 2020
WASHINGTON (May 14, 2020) – The American Hotel & Lodging Association (AHLA) today expressed support for a number of elements contained in the HEROES ACT (HR 6800) that would improve upon the Paycheck Protection Program (PPP) to aid small business hotel operators and save millions of jobs. With 70 percent of hotel employees laid off or furloughed, AHLA has consistently advocated for millions of hotel employees and the tens of thousands of mostly small business hotel owners. Measures which offer PPP loan flexibility, and extend the covered period to use loan proceeds are critical to keeping hotels open and hotel employees on the payro
Analysis: At What Occupancy Rate Can a Hotel Break-Even?
HotStats | May 14, 2020
By David Eisen and Laura Resco COVID-19 has made breaking-even more tolerable than the alternative—going broke. It's not the hand hoteliers wanted, but it's the hand they've been dealt, forcing them to approximate at what occupancy rate they can operate their hotel such that cost and revenue are equal. In these extraordinary times, it's been all pain, no gain. But as the global economy resets, hoteliers are digging themselves out from the coronavirus carnage. And a break-even analysis is one way to jumpstart the excavation project. One hotelier who knows this is Imesh Vaidya, CEO of Premier Hospitality, which is based in Alb
STR: U.S. Hotel Results for Week Ending 9 May
STR | May 14, 2020
HENDERSONVILLE, Tennessee—STR data for 3-9 May 2020 showed continues modest gains in U.S. hotel occupancy compared with previous weeks, but a similar level of year-over-year decline in the three key performance metrics. In comparison with the week of 5-11 May 2019, the industry recorded the following: Occupancy: -55.9% to 30.1% Average daily rate (ADR): -42.1% to US$76.35 Revenue per available room (RevPAR): -74.4% to US$22.95 Previous weekly U.S. weekly occupancy levels: April 26 through May 2: 28.6% April 19-25 2020: 26.0% April 12-18 2020: 23.4% April 5-11 2020: 21.0% “The industry reported its fourth
STR: Canada Hotel Results for Week Ending 9 May
STR | May 14, 2020
HENDERSONVILLE, Tennessee—The Canadian hotel industry recorded steep year-over-year declines in the three key performance metrics during the week of 3-9 May 2020, according to data from STR. In comparison with the week of 5-11 May 2019, the industry reported the following: Occupancy: -73.9% to 17.5% Average daily rate (ADR): -37.7% to CAD101.47 Revenue per available room (RevPAR): -83.7% to CAD17.75 Among the provinces and territories, Newfoundland and Labrador experienced the largest decline in occupancy (-86.0% to 7.1%). British Columbia posted the steepest drop in ADR (-44.4% to CAD107.58). Quebec reported the larg