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DCC Appoints Ryan Phelps as Chief Investment Officer
DCC | April 1, 2020
PROVO, Utah, April 1, 2020 - DCC™, an innovative hotel developer and asset manager, today announced the appointment of Ryan Phelps as its Chief Investment Officer. In this role, Ryan will lead the execution of the Company's overall investment strategy, which includes the acquisition, development, construction, and disposition of DCC's portfolio of assets. "We feel very fortunate to have Ryan join our team, bringing an extensive background in acquisition, development, and investment management functions," commented Cory Turner, a managing partner at DCC. "The addition of Ryan's world-class talent and experience will elevate and expand
UNWTO Launches a Call for Action for Tourism’s COVID-19 Mitigation and Recovery
the Global Tourism Crisis Committee | April 1, 2020
The World Tourism Organization (UNWTO) has released a set of recommendations calling for urgent and strong support to help the global tourism sector not only recover from the unprecedented challenge of COVID-19 but to ‘grow back better’. The Recommendations are the first output of the Global Tourism Crisis Committee, established by UNWTO with high-level representatives from across the tourism sector and from within the wider United Nations system. Recognizing that tourism and transport has been among the hardest hit of all sectors, the Recommendations are designed to support governments, the private sector and the international community
STR: U.S. Hotel Results for Week Ending 28 March
STR | April 1, 2020
HENDERSONVILLE, Tennessee—Reflecting the continued impact of the COVID-19 pandemic, the U.S. hotel industry reported significant year-over-year declines in the three key performance metrics during the week of 22-28 March 2020, according to data from STR. In comparison with the week of 24-30 March 2019, the industry recorded the following: Occupancy: -67.5% to 22.6% Average daily rate (ADR): -39.4% to US$79.92 Revenue per available room (RevPAR): -80.3% to US$18.05 “Year-over-year declines of this magnitude will unfortunately be the ‘new normal’ until the number of new COVID-19 cases slows significantly,” s
MGM Resorts Statement on Departure of Governor Sandoval
MGM Resorts International | April 1, 2020
LAS VEGAS, April 1, 2020 - MGM Resorts International ("the Company" or "MGM Resorts") (NYSE: MGM) today announced that former Governor and MGM Resorts President of Global Gaming Development Brian Sandoval will be leaving the company to pursue the position of President of the University of Nevada, Reno. "We are grateful to Governor Sandoval for all that he has accomplished in his time at MGM Resorts. He helped to advance our efforts in Japan, in jurisdictions where we were seeking expanded access, and areas where we pursued sports betting opportunities," said Acting CEO and President Bill Hornbuckle. "We wish him the very best in pursuit
To Lead in Times of Crisis, One Must Be Equal Parts Realist, Pragmatist and Optimist
Keith Kefgen | April 1, 2020
By: Keith Kefgen As an evaluator of leadership capability, I have been asked what it takes to lead in a time of crisis, such as COVID-19. My answer has been simple, “you must be equal parts realist, pragmatist and optimist. This mixture of archetypes is essential in dealing with the fast moving and unknown outcomes of a crisis. Realist. a person who accepts a situation as it is and is prepared to deal with it accordingly. To face a situation that is as complex as COVID, fact finding is critical. Like a complex puzzle, getting started in the known areas is a good start (start in the corners). Ask for help in areas that are unknown a
Las Vegas Sands to Donate More than Two Million Pieces of Personal Protection Equipment
Las Vegas Sands Corp. | April 1, 2020
LAS VEGAS, April 1, 2020 -- Las Vegas Sands (NYSE: LVS) today announced it will donate two million medical masks and 20,000 protective suits to help health-care professionals, first responders and nonprofit organizations in the fight against the coronavirus pandemic. Medical mask donations will be distributed in the company's corporate headquarters of Nevada as well as New York, which has become the epicenter of the coronavirus outbreak in the United States. Each state will receive one million masks. The 20,000 protective suits will be donated to hospitals and first responders in Nevada. "Hopefully our donations will help protect peopl
Hotels Are Right to Prioritize Loyalty Schemes Over Rate Reductions During and After COVID-19 Pandemic, Says GlobalData
GlobalData | April 1, 2020
Major players in the hotel industry are using loyalty schemes in order to create value for their customer base and increase demand during and after the coronavirus (COVID-19) pandemic. Ralph Hollister, Analyst, Travel & Tourism at GlobalData, offers his view: “Instead of advertising future room rates at discounted prices, offering perks through loyalty schemes means that hotels can protect their pricing and margin strategies. “Providing added value instead of price reductions such as offering reward extensions, as Hilton have done, or following IHG’s lead and lowering the entry requirements for their next loyalty tier, shou
Hotel Industry Foundation Announces Free Training, Education Courses for Hotel Employees
The AHLA Foundation | April 1, 2020
WASHINGTON, D.C. (April 1, 2020) – In an effort to support the 8 million hotel industry employees affected by this unprecedented public health crisis, the American Hotel & Lodging Foundation (AHLA Foundation), the charitable giving arm of the American Hotel & Lodging Association (AHLA), today announced free resources to help industry employees continue their education during this difficult time. As part of AHLA’s Hospitality for Hope Initiative, the AHLA Foundation will provide: Free hospitality management online courses Professional development scholarships for AHLA certifications Continuing education online progra