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83% of Americans Working From Home Due to COVID-19 Say They Miss In-Person Meetings and Conventions
Meetings Mean Business | April 13, 2020
WASHINGTON, D.C. – With more than 300 million Americans under stay-at-home orders to help slow the spread of COVID-19, many are now required to work from home and avoid all non-essential business travel. In a matter of weeks, thousands of conferences, conventions, tradeshows and other face-to-face business events have been postponed or cancelled. Recent estimates from the U.S. Travel Association and Tourism Economics, an Oxford Economics company, predict an unprecedented impact to the meetings and travel industry, which faces losses seven times greater than 9/11 due to the pandemic. A new survey by APCO Insight suggests that American wor
Park Inn by Radisson, Dubai Motor City Appoints Erika Gudauskaite as New Revenue Manager
Park Inn by Radisson | April 13, 2020
Park Inn by Radisson, Dubai Motor City, the only motor themed hotel in Dubai - has appointed Erika Gudauskaite as its new revenue manager. Erika started her career with Radisson Hotel Group in 2013 as Front Office Receptionist at Radisson Blu Hotel, Klaipeda, Lithuania and moved to Dubai and Radisson Blu Hotel, Dubai Media City in 2016 June as Assistant reservations manager and was later promoted to Reservations and M&E manager. She holds a Bachelor’s Degree at Klaipeda University, Lithuania in Recreation and Tourism Studies With over years of global experience, brings with her a vast understanding of the hospitality sector.
A Curriculum for Commercial Leaders / Kelly McGuire
KELLY MCGUIRE | April 13, 2020
Keep those big brains active and (relatively) stress free during COVID-19 with this reading program created specifically for revenue management, sales and marketing professionals By Kelly McGuire In these unprecedented times, extremely talented hospitality professionals are finding themselves with some spare time, whether impacted by furloughs or layoffs, or even just reduction in business volumes. Many are obsessively consuming COVID-19 content. It’s the only thing anyone can talk about (for good reason). While it’s important to track the current pandemic and its implications, frankly, I’m starting to bel
Arkansas Welcomes Opening of Magnuson Hotel Little Rock South
April 13, 2020
Magnuson Hotels, a top 20 global brand, today announced the branding of the Magnuson Hotel Little Rock South in Little Rock AR. Formerly affiliated with Choice Hotels, the 90 room Magnuson Hotel Little Rock South will upgrade its market position to attract travellers as a member of a top 20 global chain with over 65,000 hotels and 700 airlines on its worldwide booking platform www.magnusonhotels.com. The Magnuson Hotel Little Rock South is located close to Bill and Hillary Clinton National Airport, University of Arkansas Little Rock, River Market, Little Rock Convention Center, William J. Clinton Library, the Museum of Discovery, and t
Next Round of Coronavirus Relief: What the Travel Industry Needs
The U.S. Travel Association | April 13, 2020
WASHINGTON (April 13, 2020)—All but shut down by the coronavirus pandemic, the U.S. travel industry submitted a fresh list of urgent policy requests to Congress to protect the 15.8 million Americans whose livelihoods depend on travel. At the top of the list: adding $600 billion to the Paycheck Protection Program (PPP) and expanding eligibility to small businesses that were previously left out; and ensuring loan forgiveness can cover both payroll and other operating expenses during the shutdown. A key example of small businesses that were unintentionally excluded from the PPP under the CARES Act: local and regional destination marketin
Q1 2020 Major U.S. Hotel Sales Survey
Daniel Lesser | April 13, 2020
By Daniel Lesser During the early part of February 2020, LW Hospitality Advisors (LWHA) released its Year End 2019 Major U.S. Hotel Sales Survey with the following conclusion: “While the near-term outlook for the U.S. lodging industry remains positive fundamentals, given myriad of global and domestic issues that can rapidly develop into full blown crises, short term future industry performance is fragile. With this said, so long as U.S. economic expansion endures, the outlook for lodging fundamentals will remain positive resulting in continued deployment of domestic and foreign investment, and institutional capital into single assets
Hospitality Financial Leadership: Balance Sheet: Financially, Nothing Else Matters
David Lund | April 13, 2020
By David Lund Over the years I have seen a lot of messes in my career. Not only the ones that catch your eye because of the clutter and disorganization you see in the back spaces of your hotel but I’m talking about a mess on the balance sheet. There are two main differences between the two different kinds of messes. The balance sheet mess is not easily spotted by just anyone. Contrary to the messy housekeeping office or banquet storeroom the balance sheet disaster takes a trained eye to detect. The physical disorganization is a costly problem in equipment costs and expenses related to operating outlays for amenities and suppli
Why Flow-Through and Flex Analysis Will Be Key Post-COVID-19
HotStats | April 13, 2020
It feels interminable now, but there will come a day when the coronavirus — this “invisible enemy” that continues to lay waste to normal, everyday functions and in a matter of weeks succeeded in leveling the world’s economy — will subside and end. Though recovering occupancy and generating revenue will be at the top of hoteliers’ lists, beyond that, understanding how to turn revenue into profit will be essential to sustaining growth post-COVID-19. One way to do that is to understand the concepts of flow-through and flex. Historically, hotel performance has been measured using three main metrics: occupancy rate, average daily