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
15,000 U.S. Hotels Sign Up to Support Healthcare Community
AHLA | April 6, 2020
WASHINGTON (April 6, 2020) – The American Hotel and Lodging Association (AHLA) announced today that more than 15,000 hotels have signed up for its new initiative – “Hospitality for Hope” – which identifies hotel properties that have offered to provide temporary housing for emergency and healthcare workers as the COVID-19 public health crisis grows. While the program will primarily focus on housing for the healthcare community, some hotels could potentially be used as “Alternative Care Sites” such as an emergency hospital or place for those quarantined to stay if needed. AHLA's “Hospitality for Hope Initiative” was creat...
Key Indicators for Hospitality Sales Professionals
HSMAI | April 6, 2020
By Kaitlin Dunn, Writer, Hospitality Sales and Marketing Association International (HSMAI) HSMAI hosts regular Executive Roundtable programs for senior hospitality professionals to meet and discuss relevant issues. Typically, these are face-to-face events, but due to the coronavirus, HSMAI hosted a Chief Sales Officer Virtual Roundtable on March 26 that focused on the impact that COVID-19 is having on hotel sales. Here are three key indicators that CSO participants said are helping to guide their actions during the pandemic: 1. FLEXIBILITY AND THE OPTION TO CANCEL: All of the participants agreed that it is important to be flexible wi...
HFTP to Host Series of Hangouts to Bring Hospitality Professionals Together Online
HFTP | April 6, 2020
HFTP will go live on Zoom three times a week throughout April for a new series of virtual networking opportunities called "HFTP Hangouts." All HFTP members, stakeholders and hospitality professionals are invited to attend. These collaborative, online sessions will begin on Tuesday, April 7 and will take place every Tuesday, Wednesday and Thursday at 2:00 p.m. CT for the remainder of the month. Each day will focus its discussion on a particular segment of the hospitality industry. The Hangouts will be moderated by a sector expert who will begin with a brief informational presentation and then turn over the meeting for discussion amongst par...
Stay Home Today, #TravelTomorrow
The World Tourism Organization (UNWTO) | April 6, 2020
By staying home today, we can travel tomorrow”. The hashtag #TravelTomorrow encapsulates this message of solidarity and hope, through which the World Tourism Organization (UNWTO) calls for shared responsibility among travelers and the tourism sector around the world to deal with the COVID-19 coronavirus pandemic. Discovering different cultures, practicing solidarity and respect, caring for the environment, continuing to learn, fostering decent work, development and sustainability, generating new opportunities for all. These are the core values of tourism advocated by the World Tourism Organization and which constitute the main pillars of t...
An Initial Checklist for Temporary Hotel Closures
Alex Sogno | April 6, 2020
By Alex Sogno During the COVID-19 crisis, many hotels will unfortunately have to stop their operations and close temporarily. This can be out of necessity if your forecasts suggest the losses experienced at these low occupancy levels are not sustainable. While closing down several floors could have saved enough variable costs in the past, the introduction of systems such as LED lights have made these savings minimal and insufficient in the current crisis. In many European countries, such as the Czech Republic and Spain, all hotels have been ordered to close by their governments. While companies like Marriott and IHG have already reopen...
Baird/STR Hotel Stock Index Drops 36.0% in March
STR | April 6, 2020
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index dropped 36.0% in March to a level of 2,748. Year to date through the first three months of 2020, the stock index was down 47.9%. Hotel stocks experienced one of their worst months on record as investors contemplated worst-case liquidity scenarios for hotel companies driven by the COVID-19 demand shock and potential hotel closures,” said Michael Bellisario, senior hotel research analyst and director at Baird. “Overall, the majority of the publicly traded hotel companies are generally well capitalized, especially relative to private hotel owners, but the ultimate ...
STR: India Daily Hotel Occupancy Drops to 11%
STR | April 6, 2020
LONDON—As COVID-19 concerns and restrictions have intensified in India, the country’s daily hotel occupancy dropped to 11% during 23-29 March, according to preliminary data from STR. “India remained resilient in February—in comparison with other APAC markets that were more deeply affected—thanks largely to robust domestic demand coupled with the low number of COVID-19 cases in the country at that time,” said Vidhi Godiawla, STR’s business development manager for South and Central Asia. “The story was different in March, especially during the later portion of the month with year-over-year occupancy declines in excess of 80% ...
Could Big Data Help Us Manage the Lockdown Better?
Dr. Reza Etemad-Sajadi | April 6, 2020
Harnessing our smartphones to help track the virus and hence manage the return to life outside. By Dr. Reza Etemad-Sajadi Given that the coronavirus spreads as the population circulates, the only solution in the near term is to impose stay-at-home measures so the number of hospitalizations doesn’t explode, pushing hospital workers and equipment to breaking point. The graphs below show the change of behavior of people in Switzerland during the lockdown period. Source: COVID-19 Community Mobility Report, Google, 29.03.2020 That being said, when a part of the population will have been immunized (i.e. those who have caught the ...
What a Sparkplug Teaches About Hotel Operations During a Crisis
Greg Johnson | April 2, 2020
By Greg Johnson We are seeing occupancies declining, groups canceling and jobs being lost. It is easy for hoteliers to get caught up in the vortex of panic and depression. Up until now, many sales leaders have assumed the role of the hotel sparkplug, filled with energy and optimism to cast an uplifting aura throughout the back of the house. It is critical that we all continue this message of confidence and hope. Aside from the metaphorical meaning of the term ‘sparkplug’, let me first digress with a short story about some engine troubles I was recently having which nonetheless provides a powerful lesson for those in hospitality. Ann...
Forward-Thinking Hotels and Casinos Take Control of the Silver Lining During Uncertain Times
Robb Monkmann | April 2, 2020
By Robb Monkmann Let’s face it, the countless 2020 industry predictions we read in December 2019 did not prepare us for this. Business school, quite frankly, couldn’t prepare us for this. Hoteliers, a few mere months ago, found themselves facing the year ahead with unbridled optimism. We relished in the promise of continued innovation, while hotels were poised to welcome an influx of eager travelers, and revenue projections boasted an upward trajectory. And now? We find ourselves in uncharted territory, facing — arguably — more uncertainty than we ever have before. Not to say COVID-19 is the first pandemic to impact the hospital...
Covid-19: Impact on the Indian Hotels Sector
Mandeep S Lamba | April 2, 2020
By Mandeep S Lamba, Akash Datta, Dipti Mohan The world is still coming to terms with the Covid-19 outbreak and there is no doubt that the pandemic will change the world as we know it. With the globalized world going into partial or complete shutdown, the overall impact on human life, economic growth and businesses is immeasurable, both in the short term and long term due to the uncertainty as things evolve. While most Economists and Analysts currently expect the global economy to rebound, by some measure in the latter part of 2020, the exact timeline cannot be determined till the virus is contained across the globe. Nearer home, the ...
Wynn Resorts Extends Benefits for All North American Employees
Wynn Resorts | April 2, 2020
LAS VEGAS, April 2, 2020 -- Wynn Resorts (Nasdaq: WYNN), the world's leading resort company based in Las Vegas, Nevada, announced today that the Company will extend paying all salaried, hourly and part-time employees through May 15, for a total of 60 days of payroll continuance. The Company decided to take this action as part of its shared responsibility for the health and safety of its employees, their families and the Las Vegas and Greater Boston communities during this pandemic. Payroll coverage will include more than 15,000 current Wynn and Encore employees. For tipped employees, it includes the average tip compliance rate or distr...
Delay of 2020 Olympics Devastating for Tokyo Lodging Industry, Says GlobalData
GlobalData | April 2, 2020
Major players based in the Japanese capital will be relieved that an Olympic cancellation has been avoided, but smaller operators will be unable to see a silver lining, says GlobalData, a leading data and analytics company. Ralph Hollister, Travel & Tourism Analyst at GlobalData, comments: “Many smaller establishments that do not have the high cash reserves that their large-scale competitors possess needed the Olympics to occur this summer. “The closure of major attractions in Japan that encouraged a constant flow of guests such as Tokyo Disneyland, combined with China banning overseas trips, has created a severe lack of tourism...
The Hospitality Way of Survival After Covid-19 Crisis
Yutong MENG | April 2, 2020
By Yutong MENG The sudden outbreak of Covid-19 (unofficially called Coronavirus) crisis swept through Chinese Lunar New Year like a hurricane, adding a layer of panic and depression to the hospitality industry which was supposed to be busy and prosperous. According to STR, the average occupancy rate in mainland China began to decline significantly and continuously from January 14, falling from the peak 70% to less than 10%, and currently stable between 5% and 10%. Compared to an average occupancy of 55% in previous Chinese Lunar New Years, the Covid-19 epidemic has caused great trauma to the hospitality industry in China. Meanwhile, ...
Is Your Business Hard-Wired for Panic or Innovation?
James Houran, Ph.D., Dallas | April 2, 2020
By: James Houran, Ph.D., Dallas | Keith Kefgen, New York The COVID-19 pandemic has now become the most disruptive event in our lifetime. Understandably, virtually all organizations are bogged down in “immediate” decision-making. It is all tactical right now, because there is no place to run and no place to hide; there is no safe haven. But once the immediate circumstances settle, will your organization be hard-wired for panic or innovation? This pandemic offers two critical lessons for leadership thinking. First, psychologists have often emphasized mindfulness to a purpose. Living in the present moment, and nonjudgmentally as an app...
HFTP Presents “Best of HFTP” With Co-Located Events in October 2020, Including HITEC San Antonio, HFTP Annual Convention, Club Forum and Entrepren
HFTP | April 2, 2020
The hospitality association has rescheduled its 2020 events for Fall to accommodate for current social distancing measures. The events will run the week of October 26-29 at the Henry B. Gonzalez Convention Center in San Antonio, Texas USA. 2 April 2020 In response to the guidance for slowing the spread of Covid-19, Hospitality Financial and Technology Professionals (HFTP®) restructured its 2020 event calendar, moving early 2020 events to the second half of the year, and co-locating them for one eventful week. First it rescheduled the North American Hospitality Industry Technology Exposition and Conference (HITEC®) to October 26-29, 2020...
STR: Preliminary Caribbean Hotel Results for Week Ending 28 March
STR | April 2, 2020
Note: To inform the industry during the COVID-19 pandemic, STR will temporarily publish weekly communication for the Caribbean based on preliminary data. This preliminary data represents a percentage of STR’s total sample for the region. Once monthly processing is complete, data points will likely appear different. The Caribbean hotel industry experienced its steepest year-over-year declines yet in the three key performance metrics during the week of 22-28 March 2020, according to preliminary data from STR. In comparison with the week of 24-30 March 2019, the Caribbean reported the following: Occupancy: -85.9% to 10.6% Average...
STR: Preliminary Mexico Hotel Results for Week Ending 28 March
STR | April 2, 2020
Note: To inform the industry during the COVID-19 pandemic, STR will temporarily publish weekly communication for Mexico based on preliminary data. This preliminary data represents a percentage of STR’s total sample for the region. Once monthly processing is complete, data points will likely appear different. Mexico’s hotel industry showed its sharpest reaction yet in the face of the COVID-19 pandemic with deep year-over-year declines in the three key performance metrics during the week of 22-28 March 2020, according to preliminary data from STR. In comparison with the week of 24-30 March 2019, Mexico hotels reported the following: ...
STR: Mainland China Hotel Industry Shows Early Signs of Performance Recovery
STR | April 2, 2020
BEIJING—Mainland China’s daily hotel occupancy reached an absolute level of 31.8% on 28 March, up from a low of 7.4% during the first week of February, according to preliminary data from STR. Additionally, opening rates have been significant in key markets across the region. “We’re seeing green shoots in hotel occupancy figures, but we must stress that these are only early signs of a recovery that is likely to develop slowly,” said Christine Liu, STR’s regional manager for North Asia. “Some of the demand stems from corporate travel, primarily within the same province, as well as small-scale meetings. Additionally, hotels are ...
LEGOLAND® New York Resort Will Open In 2021 In Response To Coronavirus
Merlin Entertainments | April 1, 2020
GOSHEN, N.Y., April 1, 2020 - In adherence to the guidance of the Centers for Disease Control and Prevention and evolving restrictions from state and local governments in response to the coronavirus pandemic, LEGOLAND® New York Resort and parent company Merlin Entertainments regret to announce the postponement of the Resort opening until 2021. The measure is consistent with the closure of venues and postponement of events worldwide. "Nothing is more important to us than the health, safety and security of our team, the partners we work with, and the communities we serve," said LEGOLAND New York Resort Divisional Director Stephanie Johns...
Xenia Hotels & Resorts Provides Update on Transactions and Operations
Xenia Hotels & Resorts, Inc. | April 1, 2020
ORLANDO, Fla., April 1, 2020 -- Xenia Hotels & Resorts, Inc. (NYSE: XHR) ("Xenia" or the "Company") today provided an update on pending transactions, as well as an update on the impact of COVID-19 on its operations. On February 24, 2020, Xenia announced that it had entered into an agreement to sell the 492-room Renaissance Austin Hotel for $100.5 million, with an anticipated closing date during the first quarter of 2020. Subsequent to the announcement, the parties entered into an amendment to the agreement that extended the closing until April 16, 2020 and authorized the release of the $2 million deposit held in escrow to the Compan...
Think Staycations and Cleanliness Theater for COVID Travel
Larry Mogelonsky | April 1, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) There are two terms to mull over for how the travel will change in the near future and both relate to the heightened sense of agoraphobia and fear of unhygienic spaces. And those hotels that are able to figure out these two terms apply in a post-COVID world will indeed see their occupancies return. First to understand is the fear instilled in people’s minds from all this panic that will linger for long after the all clear is given. Call it ‘post coronavirus stress disorder’ (PCSD). What this means is that your newly adopted hygiene standards put in place to address COVID-19 wi...
U.S. Hotels: Changes in RevPAR and Profits During Historical Recessions
Robert Mandelbaum | April 1, 2020
By Robert Mandelbaum The U.S. lodging industry was prepared for a slowdown in performance entering 2020. CBRE Hotels Research was projecting a 1.1 percent increase in RevPAR for the year. Even with this low level of revenue growth, there were certain factors that could have sustained - or at least cushioned the blow of minimal declines - the nine-year trend of profit growth for U.S. hotels since 2010. We are in a low inflation period, which keeps the cost of goods and services low. Recent changes to food and beverage operations and marketing practices have helped to lower fixed costs. There is no energy crisis, so utility co...
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...
