Four Trends for Beyond Revenge Travel 2.0
Larry and Adam Mogelonsky | March 2, 2022
Although Pre-Pandemic Profitability Will Remain Elusive, the Industry Will Make Strides Toward Recovery in 2022
Fran Worrall | January 5, 2022
Coronavirus
Small Island Destinations in Critical Need of Urgent Support as Tourism Plunges, UNWTO Warns
The World Tourism Organization | June 29, 2020
Without strong support, the sudden and unexpected fall in tourism could devastate the economies of Small Island Developing States (SIDS), the World Tourism Organization (UNWTO) has warned. Since tourism is a strong socio-economic pillar of many SIDS, the impact that COVID-19 is having on the sector places millions of jobs and businesses at risk, with women and informal workers the most vulnerable. In the second of its Briefing Note series on Tourism and COVID-19, UNWTO has highlighted the severe impact the pandemic could have on livelihoods in these destinations. According to the latest data from the United Nations specialized agency, touris...
Airbnb’s Adaptable Business Model and Cost-Cutting Measures Have Revived Hopes of a 2020 IPO, Says GlobalData
GlobalData | June 29, 2020
A few months ago, the chance of Airbnb’s planned IPO going ahead in 2020 was slim to none. As the COVID-19 pandemic swiftly ground domestic and international travel to an abrupt halt, travelers cancelled their bookings en masse and its host community looked to list their properties elsewhere. However, Airbnb’s recent performance means that a stock market launch is now once again a possibility says GlobalData, a leading data and analytics company. Ralph Hollister, Travel and Tourism analyst at GlobalData comments: “One of the first forms of tourism that has returned is close proximity domestic travel – or staycations. Airbnb’s nim...
Short-Term Rental Occupancy in Nashville Showed Signs of Improvement in May
STR | June 29, 2020
HENDERSONVILLE, Tennessee—Nashville short-term rental properties showed significant improvement in May after the COVID-19 pandemic had led to down performance in April, according to STR. Occupancy for the sector increased 83% from April to May, reaching a level of 49.4%. In April, short-term rental occupancy fell to 27%. STR, the leader in global hospitality benchmarking and analytics, maintains the world’s largest hotel performance database. Nashville is the first short-term rental market where STR is expanding its benchmarking offerings via a pilot study. Included in STR’s short-term rental sample are both multi-family and singl...
Hospitality Sector: Building Resilience in Uncertain Times
June 29, 2020
5 practical tips on how to build a strong operational infrastructure to cope with the unexpected. Hurricane Katrina, 9/11, climate change, COVID-19. From global pandemics to rising seas and terrorist attacks, tourism destinations and properties are highly vulnerable to uncertainties that can rock the world on a dime. Since mega-disruptions are increasingly frequent and unanticipated, hospitality businesses would do well to prepare for the worst with a comprehensive plan that details an immediate response to a crisis as well as addresses potential long-term challenges and plans. This way, whatever the crisis, the plans for addressing it in...
Beyond Borders: Hospitality Updates from Across the Globe
Russell Kett | June 26, 2020
By Russell Kett Industry experts from around the globe share what they are seeing in their markets today, the status of travel restrictions, how their governments are supporting the industry financially, and how they see the recovery process starting and playing out. Held on Tuesday, June 23, 2020 Moderator: Leora Halpern Lanz, ISHC, Associate Professor of the Practice & Chair of the Graduate Program, BU SHA Panelists include: Kaushik Vardharajan, Faculty, BU SHA, Patricia Boo, Area Director LATAM, STR, Adeline Phua, HCC/ Verimag, Shanghai/Singapore, and Russell Kett, FRICS, Chairman, HVS London. ...
U.S. Hotel Demand Not Expected to Fully Recover Until 2023
STR | June 26, 2020
HENDERSONVILLE, Tennessee—Even with improving performance already underway, U.S. hotel demand will not return completely to pre-pandemic levels until 2023, according to the latest forecast revision from STR and Tourism Economics. “Compared with our last forecast, we actually improved our demand projection for 2020 from -45.0% to -36.2%, but we expect it to take 11 quarters for the number of room nights sold to rise to the corresponding levels of 2019,” said Jan Freitag, STR’s senior VP of lodging insights. “Similarly, it will take until 2023 for occupancy to reach the 20-year historical average. With lower occupancy levels, and t...
WTTC Lays Out Guidelines for a Safe and Seamless Travel in the ‘New Normal’
| June 25, 2020
London, UK: The World Travel & Tourism Council (WTTC) has laid out its new guidelines Safe & Seamless Travel including testing and tracing, following medical evidence, to ensure people can enjoy Safe Travels in the ‘new normal’. The guidelines will ensure that the travel sector is provided with an extensive framework to help governments and private business work in collaboration to create aligned testing and contact tracing programmes. The initiative is part of the WTTC’s Safe and Seamless Traveller Journey (SSTJ) which aims to enable a seamless, safe and secure end-to-end traveller experience including flights and non-air...
How Hotels Can Succeed in a Post-COVID World
HotStats | June 25, 2020
COVID-19 hit the travel industry like a tidal wave, and hotels have spent the past several months being tossed around like a cork. Now, for hoteliers, it's time to find the surface and start swimming. Make no mistake, hoteliers will need to adjust to a new normal going forward. But there are ways to power full steam ahead toward profitability. Here’s how hotels can succeed in a post-COVID-19 world: Construct a Recession-Proof Operation Hoteliers need to prepare for a bumpy ride. U.N. jobs reports put global job losses close to 200 million. Chances are that as things level off, many of those jobs will come back — but many won’t. ...
Research Captures the Impact of COVID-19 on Travel Distribution Partners and Their Outlook on the Future
Travel Consul | June 25, 2020
NEW YORK (June 25, 2020) – During the weeks from May 11–25, 2020, over 900 travel executives (tour operators and agency owners) from the top tourism source markets participated in a global survey by Travel Consul, the leading international travel marketing alliance. The goal of this survey was to get a better understanding of the impact the COVID-19 pandemic has had on the industry, current needs and a view to what the future might entail. Here are a few highlights of the results: How destinations can support distribution partners in recovery When asked how destination organizations (DMOs) can best help travel advisors and tour operator...
U.S. Travel Responds to NY, NJ, CT Quarantine Policy
The U.S. Travel Association | June 25, 2020
WASHINGTON (June 25, 2020)—U.S. Travel Association Executive Vice President for Public Affairs and Policy Tori Emerson Barnes issued the following statement on the announcement that New York, New Jersey and Connecticut will impose a new 14-day self-quarantine requirement for visitors from certain U.S. states: "States imposing new travel restrictions is not the direction we want to be heading for jobs and the economy. Medical experts have said that it should be possible for travel to gradually resume in phases as long as travelers and travel businesses embrace guidance on good health and safety practices. At this stage there is no debate ...
How Meeting and Event Venues are Adapting to the New Normal
Larry Mogelonsky | June 24, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) As the stay-at-home orders subsides and leisure travelers look to rediscover their own backyards, we cannot forget that numerous hotels around the world derive a healthy portion of their topline revenues from groups. And even after all the postponements, cancelations and booking credits, this side of the business is still a question mark insofar as when exactly it will return to 2019 levels. While undoubtedly a clearer picture will emerge as summer fades into fall, there are nevertheless several critical adjustments needed in the near-term as to how you can safely facilitate a confe...
22 Best Practices for Your Wellness And Spa During and Post Covid-19
June 24, 2020
New ways of working, new consumption patterns, new ways of interacting with guests, and most certainly, new cleanliness standards - these are the norms by which the attractiveness of hotels will be now measured. These changes will be especially felt on the spa operational level, where a tight infrastructure leading to reassurance must be put in place. There is no doubt that the Wellness and Spa industry will experience an immense transformation as a result of the pandemic. After all, wellness and spa experiences are all about personal service and the human touch. However, despite all the changes, one thing will remain: people will still wa...
Restrictions on Travel Easing as Europe Leads Cautious Restart of Tourism
The World Tourism Organization | June 23, 2020
Restrictions on travel, introduced in response to the COVID-19 pandemic, are slowly being eased, allowing tourism to restart in a growing number of destinations. The latest research by the World Tourism Organization (UNWTO) shows that 22% of all destinations worldwide (48 destinations) have started to ease restrictions, with Europe leading the way. At the same time, however, 65% of all destinations worldwide (141 destinations) continue to have their borders completely closed to international tourism. As the United Nations specialized agency for tourism, UNWTO has been monitoring responses to the pandemic since the start of the current crisis...
HVS: Emerging Hotel Brands
Brittany Hart | June 23, 2020
By Brittany Hart As COVID-19 was declared a global pandemic by the World Health Organization (WHO) on March 11, the hospitality industry began to experience sharp declines in lodging demand given the cancellation of events and the travel restrictions set by the government, which contributed to the drop in all performance metrics. For example, RevPAR for U.S. hotels was down 65% for the week of May 31 through June 6, compared to the same week in 2019. Nevertheless, franchisees continue to search for brand-growth opportunities. Several new brands, ranging from economy to upscale products across all service levels, are being created to occupy...
New Data Shows Impact of COVID-19 on Tourism as UNWTO Calls for Responsible Restart of the Sector
The World Tourism Organization | June 22, 2020
As tourism slowly restarts in an increasing number of countries, the World Tourism Organization (UNWTO) has released new data measuring the impact of COVID-19 on the sector. UNWTO emphasizes the need for responsibility, safety and security as restrictions on travel are lifted. The Organization also reiterates the need for credible commitment to support tourism as a pillar for recovery. After several months of unprecedented disruption, the UNWTO World Tourism Barometer reports that the sector is beginning to restart in some areas, most notably in Northern Hemisphere destinations. At the same time, restrictions on travel remain in place in...
Here’s How COVID-19 Has Altered USALI Financial Reporting
HotStats | June 22, 2020
By Tanya Venegas Occupancy decimation isn’t the only curveball COVID-19 has thrown at hoteliers. Turns out, accounting procedures have been hard to figure out as well. Enter the Financial Management Committee of the American Hotel & Lodging Association (AHLA), which is tasked with responding to inquiries regarding operational reporting under the Uniform System of Accounts for the Lodging Industry (USALI). They have now put forth guidelines concerning the reporting of alternative revenue sources and recording expenses rarely seen before in the lodging industry. In this blog, we will provide an overview of the reporting of COVID-...
STR: U.S. Hotel Performance for May 2020
STR | June 22, 2020
HENDERSONVILLE, Tennessee—Due to the impact of the COVID-19 pandemic, the U.S. hotel industry showed continued lower performance during May 2020, according to data from STR. In a year-over-year comparison with May 2019, the industry recorded the following: Occupancy: -51.7% to 33.1% Average daily rate (ADR): -39.9% to US$79.57 Revenue per available room (RevPAR): -71.0% to US$26.35 The absolute occupancy and RevPAR levels were the lowest for any May on record in the U.S., but all three key performance metrics were up from April levels. Recent weekly data shows occupancy above 40% due to a slow and steady rise in demand....
Cybersecurity Guidelines: Protect Your Business When Working Remotely
Alex Sogno | June 22, 2020
By Alex Sogno In the first half of 2020, Marriott International announced they had experienced a data breach, putting the personal data of 5.2 million guests at risk1. While this number dwarfs in comparison to the data breach of the 500 million Marriott and Starwood guests in late 20182, the message is clear: Hotels are a target for threats and need to focus on protecting their employees and guest data. With the advent of COVID-19, your company’s cybersecurity is at higher risk. As employees worldwide switch to working from home, the dangers associated with mobile devices, remote access to core business systems and poor online practic...
Major Las Vegas Development Projects Status Update
Shannon Okada | June 22, 2020
As of the end of January 2020, prior to the closures of businesses determined to be non-essential and the announcement of stay-at-home recommendations due to COVID-19, the Las Vegas Convention and Visitors Authority (LVCVA) indicated that construction of over 12,000 hotel rooms was scheduled to be completed by 2023. While all announced projects may have not ended up being completed, strong visitation over the past few years, overall market hotel/motel occupancy of 88.9% in 2019, and the construction of projects that were expected to be major demand generators, warranted the development of significant guestroom supply at that time. While the p...
Stronger, Greener and More Innovative: The Future of Tourism in the Americas
The World Tourism Organization (UNWTO) | June 18, 2020
Ministers from across the Americas have met to map a course for the sustainable growth of the region’s tourism sector, a lifeline for many millions and a key driver of economic growth. Though kept apart physically due to the extraordinary circumstances, the 65th meeting of the World Tourism Organization (UNWTO) Regional Commission for the Americas saw Member States more united than ever in their determination to harness the power of tourism to recover from the economic and social impact of COVID-19 and drive future growth. The second of the UNWTO Regional Commission meetings to be held virtually, the high-level discussions were opened by C...
Indicators Show Travel and Hospitality Businesses Are Picking Up
Linchi Kwok | June 18, 2020
By Linchi Kwok Places are easing coronavirus restrictions. Travel companies are reopening their business with enhanced sanitizing measures. People are ready to travel again. Do you see early signs of recovery? Here are some positive updates, although it is still too early to claim it is business as usual. TSA The Transportation Security Administration (TSA) reported that 430,414 people passed the security checkpoints at airports on Monday, June 8. That was about five times the record low traffic day of 87,543 in April and accounted for 16.27% of the air traffic in the same weekday one year ago at 2,644,981. It is worthy to...
Covid-19 and The Hotel Resort Buffet: The Last Supper*?
Fred DeMicco | June 18, 2020
By Frederick DeMicco The summer of 2020 will be a year without many vacation holidays. The fear of Covid-19 will dissuade many tourists from traveling. So, in the United States especially, will loss of income from jobs placed on hold in response to the pandemic. From the “Fhobia of Flying” to those tourists lured by the sands of the Mediterranean, the Fear to take Flight now dominates the travel market. It does not help that some countries’ borders remain closed, and many also have Pre- and Post-Covid quarantines. Few events short of nuclear war could be as devastating to the global economy. Tourism is its heartbeat and a major co...
Hotel Report: $16.8 Billion Loss in State & Local Tax Revenue From Hotels in 2020 Due to COVID-19 Impact
AHLA | June 18, 2020
WASHINGTON (June 18, 2020)—As a result of the sharp drop in travel demand from COVID-19, state and local tax revenue from hotel operations will drop by $16.8 billion in 2020, according to a new report by Oxford Economics released today by the American Hotel & Lodging Association (AHLA). Hotels have long served as an economic engine for communities of all sizes, from major cities, to beach resorts, to small towns off the interstate—supporting job creation, small business opportunities and economic activity in states and localities where they operate. Hotels also generate significant tax revenue for states and local governmen...
5 Easy Steps to Bring Employees Safely Back to Work Using the InvoTech UHF-RFID Uniform System
InvoTech | June 17, 2020
InvoTech Systems provides the perfect solution to help wardrobe operations transition employees safely back to work in the current situation—respecting social distancing and hygiene norms to enable full productivity of staff. Track your entire inventory and distribute uniforms without physical contact using the UHF-RFID Uniform System—from uniform purchase, assignments, daily use and laundry activity. Processing uniform transactions and recordkeeping is automated by simply passing the uniform items over a counter-top RFID antenna, a bulk reader station or using a portable handheld RFID reader. Here are the 5 easy steps you can implemen...
