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Hospitality Industry United for “Buy One, Give One” Campaign to Jumpstart Travel, Support Hotels and Provide Thank You to Healthcare Workers
HSMAI | April 30, 2020
NEW YORK (April 30, 2020) To help jumpstart leisure travel, the hospitality industry has united to launch Buy One, Give One, a “vacay layaway” program designed to generate immediate revenue for hotels, while simultaneously providing a “thank you” to healthcare workers who have been tirelessly working on the front lines. Available at BuyOneGiveOneStay.com through June 30, the initiative incentivizes consumers to purchase future travel now with special offers ranging from discounted stays to gift cards to loyalty points for redemption prior to travel. In return, participating hospitality brands/hotels will donate room nights, gift ca
Commercial Real Estate Valuation in the Covid-19 Era
Prashant Das | April 30, 2020
By Prashant Das & Remy Rein Glossary REIT: Real Estate Investment Trust, a company which owns and operates real estate assets and enjoys a special tax treatment. REOC: Real Estate Operating Company which did not opt for the REIT status. NCREIF: National Council of Real Estate Investment Fiduciaries. A consortium of commercial property owners which pool their data for creating real estate performance indices and benchmarks. NPI.Lev: NCREIF Property Index after accounting for payout to lenders. When Covid-19 struck, the markets reacted. Since the beginning of 2020, REIT returns have nosedived: -60% in ret
A Reason to Smile During the COVID-19 Pandemic
Shep Hyken | April 29, 2020
By Shep Hyken I’m going to switch up my typical customer service and experience content to share a little motivation. My buddy and fellow professional keynote speaker, Joey Coleman, is one smart dude. He made a great observation about the way people are reacting to the COVID-19 pandemic. He noticed that the quarantine and stay-at-home orders are magnifying people’s personality traits. For example, if you are an optimistic person, you may be showcasing that side of your personality more than ever. If you’re a giver, you may be exhibiting more generosity than usual by supporting—financially or any other way—healthcare workers,
Coronavirus May Kill the Airbnb Super Host
Larry Mogelonsky | April 29, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) All of travel is taking a beating from the pandemic. None are excluded and the situation will continue to play out over the next two years as some organizations adapt while, unfortunately, others die out. Looking at the sharing economy, though, there are some interesting side effects from this crisis that might be advantageous for traditional hoteliers. Initially (late February), right as social distancing, lockdowns, flight restrictions and quarantines were being issued throughout Europe and North America, I had thought that COVID-19 would favor these alternate lodging providers. T
Hotel Concept Handbook: Developing a Compelling Hotel Concept
Hospitality Insights | April 29, 2020
By Youri Sawerschel The hospitality industry is anything but dull. Each year brings with it a bounty of exciting destinations, revolutionary new hotels and glamorous renovations. But whereas the challenges of the previous 20 years were mainly tied to one overarching paradigm shift – digitization – the decade ahead brings with it a number of industry disrupting trends and events that are changing what it means to be a hotelier. Beyond traditional amenities 10 years ago, hoteliers were still wondering if they should invest in in-room Wi-Fi (yes) and charge guests extra for the service (no). What has them biting their nails now is wheth
Lodging Interactive Launches Touchless Digital Menu System for Restaurants and Hotels
Lodging Interactive & commingle:engage | April 29, 2020
PARSIPPANY, NJ - April 29, 2020 - Lodging Interactive the hospitality industry's premier provider of full-service social media marketing and guest reputation management services today, announced the launch of MyMenusOnline, its new touchless digital restaurant menu system. With MyMenusOnline restaurant guests simply scan a tableside QR code or NFC tag to view the restaurant's menu on their own mobile device. The system is meant to replace traditional printed menus and eliminates concerns in potentially passing germs between in-house dining guests handling the same menus. “The new normal has us all concerned with the cleanliness of every
During COVID-19, Economy Hotels Lead the Way in Housing Essential Workers
JLL | April 29, 2020
Economy and select-service hotels have emerged as leaders in the hotel sector, housing essential workers on the frontlines of the coronavirus pandemic while taking steps to keep guests and employees safe. First responders, such as healthcare workers, now constitute a significant portion of the demand in many hotel markets around the globe, says Geraldine Guichardo, Global Head of Research for JLL's Hotels & Hospitality Group. “Extended-stay hotels, particularly within the lower-priced segment, are seeing the most demand,” Guichardo says. In the U.S., these hotel sectors saw occupancy rates in the 40 to 45% range for the week
100% of Global Destinations Now Have COVID-19 Travel Restrictions, UNWTO Reports
The World Tourism Organization (UNWTO) | April 29, 2020
The COVID-19 pandemic has prompted all destinations worldwide to introduce restrictions on travel, research by the World Tourism Organization (UNWTO) has found. This represents the most severe restriction on international travel in history and no country has so far lifted restrictions introduced in response to the crisis. Following up on previous research, the latest data from the United Nations specialized agency for tourism shows that 100% of destinations now have restrictions in place. Of these, 83% have had COVID-19-related restrictions in place already for four or more weeks and, as of 20 April, so far no destination has lifted them.