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
Consumer Interest in Travel Categories Remains Significantly Lower
Comscore | May 1, 2020
Visitation to travel sites 55-65 percent lower than volumes during week of February 3, 2020 RESTON, Va., May 1, 2020 -- The latest insights from Comscore (Nasdaq: SCOR), a trusted partner for planning, transacting and evaluating media across platforms, shows that consumers are seemingly still not ready to think about travel plans amid the ongoing COVID-19 pandemic. The continuing depressed visitation volume has also translated to a downward trend in consumer spending on travel. Overall, Comscore observed a 43 percent year over year drop in desktop travel spending for the month of March 2020, despite the fact that the ...
COVID-19 Outbreak Has Jeopardized UK Hospitality Sector, Says GlobalData
GlobalData | April 30, 2020
The COVID-19 outbreak has caused mass cancellation of corporate events, international congress meetings, sports and social events. International travel bans in addition to the UK’s lockdown and social distancing measures are expected to severely impact the hospitality industry in the UK, says GlobalData, a leading data and analytics company. The hospitality and leisure industry contribute 5% of national GDP and accounts for 10% of employment in the country, according to UKHospitality. The main tourism source markets for the UK are major European countries including Belgium, France, Germany, Ireland, Italy, Spain, the US and Australia. Th...
The Los Angeles Market Continues to Lead the U.S. Hotel Construction Pipeline at the Close of the First Quarter of 2020*
Lodging Econometrics | April 30, 2020
April 30, 2020 – PORTSMOUTH, NH - Analysts at Lodging Econometrics (LE) report that at the close of the first quarter of 2020, the top five U.S. markets with the largest total hotel construction pipelines are: Los Angeles with 166 projects/27,752 rooms; Dallas with 164 projects/19,999 rooms; New York City with 152 projects/26,111 rooms; Atlanta with 143 projects/19,423 rooms; and Houston with 132 projects/13,316 rooms. Nationally, under construction project counts hit a new all-time high with 1,819 projects with 243,100 rooms. Markets with the greatest number of projects already in the ground are led by New York City with 108 projects/1...
WTTC Outlines What “The New Normal” Will Look Like as We Start to Travel
April 30, 2020
London, UK: The World Travel & Tourism Council (WTTC) has outlined what the “new normal” will look like as countries begin to end their COVID-19 lockdowns and ease travel restrictions. “Travelling in the New Normal” is part of WTTC’s plan which includes critical steps and coordinated actions, including new standards and protocols, which offer a safe and responsible road to recovery for the global Travel & Tourism sector as consumers start planning trips again. For the last few weeks, WTTC, which represents the global Travel & Tourism private sector, has been marshalling the efforts of the private sector, sharing be...
STR: U.S. Hotel Results for Week Ending 25 April
STR | April 30, 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 19-25 April 2020, according to data from STR. In comparison with the week of 21-27 April 2019, the industry recorded the following: Occupancy: -62.2% to 26.0% Average daily rate (ADR): -42.9% to US$73.61 Revenue per available room (RevPAR): -78.4% to US$19.13 Year-over-year declines were less steep than previous weeks due to a comparison with the time of Passover in 2019. Additionally, absolute occupancy rose slightly ...
STR: Canada Hotel Results for Week Ending 25 April
STR | April 30, 2020
HENDERSONVILLE, Tennessee—Showing further COVID-19 impact, the Canadian hotel industry recorded steep year-over-year declines in the three key performance metrics during the week of 19-25 April 2020, according to data from STR. In comparison with the week of 21-27 April 2019, the industry reported the following: Occupancy: -76.9% to 15.0% Average daily rate (ADR): -32.2% to CAD101.22 Revenue per available room (RevPAR): -84.4% to CAD15.14 Among the provinces and territories, Quebec experienced one of the largest drops in occupancy (-87.7% to 7.9%), which pushed the steepest decrease in RevPAR (-91.6% to CAD8.20). Newfoun...
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...
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. ...
U.S. Hotels Zapped Into Profit Shock From COVID-19
HotStats | April 29, 2020
U.S. hoteliers got their first taste of the impact of COVID-19 on hotel profit and loss in March, and the bad taste in their mouths is likely to linger for a while. Gross operating profit per available room (GOPPAR) was down 110.6% YOY to $-12.71. The triple-digit drop was by far the largest percentage decline ever recorded by HotStats since it started charting U.S. data. The previous high was -10.4% in March 2015. March 2020 also marked the first time in the HotStats database that the U.S. recorded a negative GOPPAR value. The decrease in GOPPAR was a result of gaping drops on the revenue side. RevPAR for the month was down 64.4%, heav...
STR: U.S. Hotel Profits Fell 101.7% in March
STR | April 29, 2020
BROOMFIELD, Colorado—U.S. hotel gross operating profit per available room fell 101.7% during March 2020, according to the first-ever monthly P&L data release from STR. In a year-over-year comparison with March 2019, the industry posted the following: GOPPAR: -101.7% to US$-2.10 TRevPAR: -64.0% to US$104.93 EBIDTA PAR: -116.8% to US$-15.44 LPAR (Total Labor Costs): -31.2% to US$66.16 “Our first U.S. monthly P&L release really could not have been timelier, given the unprecedented crisis the industry is facing amid the coronavirus pandemic,” said Joseph Rael, STR’s senior director of financial performance. “...
WTTC Now Estimates Over 100 Million Jobs Losses in the Travel & Tourism Sector and Alerts G20 Countries to the Scale of the Crisis
April 28, 2020
London, UK: The Travel & Tourism sector faces a staggering 100 million jobs losses due to the coronavirus pandemic, according to the World Travel & Tourism Council (WTTC). The startling figure, based on research from WTTC, has increased by over 30% in the last four weeks, indicating the sheer crisis affecting the sector. The WTTC has alerted G20 Tourism Ministers to the extent of the crisis, as they gathered by virtual conference earlier today. Of the 100.8 million jobs at risk, almost 75 million of them are in G20 countries. WTTC analysis also shows a sharp escalation in the economic loss to the world economy, up to US$2.7 t...
Nobody Asked Me, But… No. 230: Hotel History: Four Seasons Hotel
Stanley Turkel | April 28, 2020
By Stanley Turkel, CMHS Hotel History: Four Seasons Hotel, (367 rooms) Is it possible to conceive that the Four Seasons Hotel in New York has been converted to house medical professionals battling the coronavirus? In late March, the five-star Four Seasons Hotel located on East 57th Street began to accept hospital employees who work in mid-Manhattan. This I.M. Pei-designed hotel was surely the most talked-about new hotel in New York when it opened in 1993 at a cost $1 million per room. This 52-story, 367 room building with its limestone-clad lobby, 33-foot-high onyx ceiling, glowing wall sconces and original paintings provided grandeu...
People Management During COVID-19
Global Asset Solutions | April 28, 2020
By Alex Sogno An industry of people taking care of people; Ladies and Gentlemen Serving Ladies and Gentlemen; People, Product and Profit. Whichever way you phrase it, people are at the core of hospitality. As a service-focused industry, our product is inseparable from the person delivering it. Therefore, a hotel’s success depends on how motivated, happy and engaged their employees are as this directly affects its product. So how does a people-focused industry take care of their people during COVID-19? 1. Communication is Key (even when it’s virtual) We’ve all heard it a million times, especially now when we cannot be face-to-face: ...
COVID-19 Presents Travel and Tourism Industry With a Unique Opportunity to Evolve
Zongqing Zhou | April 28, 2020
By Zongqing Zhou As the tourism sector has been hobbled by the pandemic, the industry has also been presented with an opportunity to reevaluate and improve its practices, a necessity if businesses are to attract and gain the trust of both existing and prospective customers. The impacts of COVID-19 have posed significant challenges to the travel and tourism industry. Airline sales are expected to drop by $314 billion and hotel room vacancies have eclipsed 50%. For these industries to survive, they must rapidly invest in new initiatives to keep their current customer base engaged while improving conditions for their employee...
Report: Hotels Require More PPP Loan Funding To Save Jobs
AHLA | April 28, 2020
WASHINGTON (April 28, 2020) – The American Hotel & Lodging Association (AHLA) released a new report today showing the average small business hotel will require additional funding from SBA loans under the Paycheck Protection Program (PPP) in order to rehire employees or prevent further layoffs and keep their business open. AHLA also sent an urgent letter today to Congress asking for additional funding for SBA loan program and several technical updates to the CARES Act to help these hoteliers keep their doors open and save jobs. “The CARES Act is an historic effort to meet the most serious health and economic challe...
Hotels Need to Demonstrate How They Can Ensure Highest Levels of Hygiene Post-COVID-19, Says GlobalData
GlobalData | April 28, 2020
The tourism sector needs to be prepared for considerable changes in consumer demands when restrictions are lifted and demand for travel returns. In particular, the lodging industry needs to be prepared for guests now demanding the highest levels of hygiene and sanitation, says GlobalData, a leading data and analytics company. Ralph Hollister, Travel & Tourism Analyst at GlobalData, comments: “Post-COVID-19, consumers will be likely to place as much importance on hotel hygiene standards as they will on price and location. Fears over contracting the virus will live on far after the pandemic is over. Due to the large scale of many hotel...
Survey Finds Optimism for COVID-19 Recovery Growing Among Destination Organizations
MMGY Global | April 28, 2020
KANSAS CITY, MO (April 28, 2020) – MMGY Travel Intelligence, in partnership with Destinations International Foundation, has released the findings from the fourth wave of a series of bi-weekly tracking surveys of North American destination professionals. The survey, which assesses how organizations in this sector are impacted by and reacting to the COVID-19 pandemic, revealed that over the last two weeks respondents’ outlook on their local tourism economies has started to improve. The percentage of destination professionals who expect their local economy to worsen fell sharply from 72 percent in Wave III of the survey to 41 percent in Wav...
As Recovery Appears, Clairvoyix to Drive Business to Hotels, Resorts
Clairvoyix | April 28, 2020
Company to benefit from client properties’ optimistic outlook, SBA assistance LAS VEGAS – After previously announcing its Rapid Recovery Response – R3© solution, Clairvoyix, the leader in enterprise class, hospitality-specific marketing automation, announces it is prepared to address the demand for property level direct marketing, a critical part to properties’ reemergence as safe, clean and desirable hotels. “Clairvoyix and our clients have always benefited from a lean business model that never sacrifices quality or accuracy in our direct marketing deliverables,” said Lisa Phillips, Clairvoyix’ chief operations officer...
COVID-19 Webinar Summary: 5 Key Points on U.K. & Ireland, 24 April
STR | April 27, 2020
Knowing you might not have time to watch our full webinars, we’re pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in the Regional U.K. as well as business on the books in London and Europe recovery forecast. Regional U.K. occupancy drops as number of cases increase Occupancy has been decreasing as the number of COVID-19 cases rises in the Regional U.K. Occupancy started to decrease before government measures to combat the spread of COVID-19 due in part to travel restrictions in other countries. Strong demand on the books in Edinburgh and Glasgow E...
48% of Americans Canceled Summer Travel Due to Coronavirus Concerns
ValuePenguin.com | April 27, 2020
Nearly half of those with an upcoming trip lost money on nonrefundable costs, averaging more than $800. NEW YORK, April 27, 2020 -- Uncertainty surrounding the coronavirus pandemic has caused nearly half (48%) of Americans to cancel their summer travel plans for this year leading to more distress for the travel industry. Additionally, 1 in 6 Americans also said they would wait a full year before traveling again. Unfortunately, canceled travel isn't the only thing causing trouble for the travel industry. In a recent survey by ValuePenguin, 43% of Americans said they feel more negatively about the industry as a whole and will change the...
