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
UK Hotel Sector Can Breathe a Small Sigh of Relief
HVS | March 12, 2020
The Chancellor of the Exchequer has announced a number of measures in his Budget statement which should assist the UK hotel sector in the wake of the coronavirus, which has already precipitated a number of events and overnight stays in hotels to be cancelled or postponed, thereby causing a fall in hotel occupancy. The Chancellor has singled out the sector to receive a number of benefits which will help to reduce some of the pain, especially for smaller businesses – and not therefore for the larger enterprises that make up the vast majority of the sector. These measures include: Firms with fewer than 250 staff will be refunded for si...
COVID-19: Industry Leaders Speak Out on the Future of the Meeting Business
Hospitality Upgrade | March 12, 2020
by Fran Worrall, Hospitality Upgrade Editor Yesterday, the World Health Organization announced that COVID-19—the viral disease that has swept the globe and killed more than 4,200 people—is officially a pandemic. At the same time, President Donald Trump announced that travel from Europe to the U.S. would be restricted for 30 days, beginning tomorrow at midnight. Analysts are saying the virus is having a bigger impact on global aviation than 9/11. And a recent Skift Research survey indicates that nearly one-third of U.S. travelers are deferring their plans. A number of industry conferences and meetings have been cancelled or postponed, a...
Knowland Insights: Coronavirus Pandemic – Hotel Group Impact and Actions
Knowland | March 12, 2020
Large losses of business, mitigation in the short term and positioning for an eventual rebound Washington, DC (March 12, 2020) Knowland, the leader in revenue-generating hospitality meetings data and analytics, is tracking the impact of the Coronavirus pandemic on group business for the hotel industry. Today, Knowland announced estimated group cancellation rates across a 90 - 120 day booking window for the US/North America, Asia Pacific and Europe regions. As expected, Asia Pacific has the highest cancellation rate with 90%, while U.S./North America hotels report a 40% cancellation rate for events and meetings. The U.S./North America ...
U.S. Travel Community Reacts to Increased Travel Restrictions
USTA | March 12, 2020
WASHINGTON (March 12, 2020) — U.S. Travel Association President and CEO Roger Dow issued the following statement on the announced suspension of most air travel to and from Europe: "In taking aggressive steps to protect the public against coronavirus, the U.S. government should now consider equally aggressive steps to protect America's workforce and employers. The public's health is the top concern, but now the policy conversation must address the health of the economy. "Temporarily shutting off travel from Europe is going to exacerbate the already-heavy impact of coronavirus on the travel industry and the 15.7 million Americans whos...
The Bear, the Bull and the Wolf: a 2020 Economy Fairytale
Dr Giuliano Bianchi | March 11, 2020
As the impact of the global coronavirus outbreak ripples through markets, what's the outlook for tomorrow's economy? By Dr. Giuliano Bianchi Daughter: “Mom, can you tell me a bedtime story?” Mom: “Of course. Do you know the story of the people and their economy of the last two decades?” Daughter: “Is it scary?” Mom: “Quite!” Once upon a time, there was a recovering economy that was finally growing after the 2008 financial meltdown. But then, a scary virus jumped from exotic wild animals to human beings and spread over many continents. In this moment of fear, people reduced their level of consumption leading t...
Strategic Coronavirus Operational Planning
Larry Mogelonsky | March 11, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) The news regarding this virus is omnipresent. It has impacted travel throughout the world, for which nearly every hotel will feel the effect. Stemming from numerous emergency planning sessions for the properties we manage through our consultancy, below is the rough preamble of what we have proscribed to help hoteliers get through this global ordeal. Preparation is essential, not only in terms of what we do hygienically, but also in how we build our business. Whatever the actual severity of this virus, the fact remains that it is not our call as hoteliers to make a decision either wa...
Travel Leaders Echo Experts: Make Fact-Based Decisions About Traveling
AHLA | March 11, 2020
WASHINGTON (March 11, 2020)—A coalition of 150 travel-related organizations issued the following statement on the latest developments around coronavirus (signatories below): "For the travel and hospitality industry, the safety of the traveling public, our guests and our employees is of the utmost importance. We are in daily contact with public health authorities and are acting on the most up-to-date information on the evolving coronavirus situation. "Health and government officials have continually assured the public that healthy Americans can 'confidently travel in this country.' While it's critically important to remain vigilant and...
How Brands Can Manage a Travel Industry Crisis
Deborah Fell | March 11, 2020
By Deborah Fell Travel isn’t always a bed of roses. There are natural disasters, tainted products, bad actors, data breaches, regional and global viruses, and events big and small that require industries to step up, speak up, and do whatever it takes to care of their employees and customers. As the coronavirus outbreak tops 93,000 in dozens of countries, it’s an appropriate time to offer advice on how to handle an industry crisis. Protect Your Employees, Guests, and Brand Brands have a responsibility to ensure life safety for associates and guests. Government safety regulations vary around the world, but standards, process...
Why Massive Global Events Are a Catalyst for Change
Alan Young | March 10, 2020
By Alan E. Young, Co-Founder, Puzzle Partner Uncertain times are a catalyst for change, especially within the hospitality industry. Hospitality, after all, has always held a somewhat notorious reputation for being reluctant to change. While other sectors are, by nature, more malleable to new-edge advancements and best practices, our industry often takes its time, testing the waters long before making the commitment to dive in. That is until a global event inspires disruption that simply can't be ignored. A worldwide crisis, natural disasters, weather changes, the implementation of new laws, and, of course, economic and political instabi...
10 Ideas to Improve Booking Performance During the Crisis
Milestone Inc. | March 10, 2020
By Dev Kurbur, SVP of Global Customer Success “Some companies will emerge stronger than before” – Andy Grove Intel’s Andy Grove had a lot to say about how to react to downturns and setbacks. Here are just a few of his insights and maxims: 1) The first rule is that economic downturns always end. 2) Some companies emerge from recessions stronger than before. 3) You can’t save your way out of a recession. 4) The future favors the optimist.* Milestone, Inc. has dozens of hospitality clients, so we decided to put together some recommendations for where to invest time and focus during the crisis and here we share them with ...
STR: Italy Hotel Occupancy Drops Amid COVID-19 Outbreak
STR | March 10, 2020
LONDON — 10 March 2020 —Key hotel markets in Italy have reported significant occupancy declines amid the outbreak of coronavirus (COVID-19), according to preliminary February data from STR. “Italy has become a focal point of the COVID-19 outbreak, so to no surprise, the hotel occupancy impact has been significant in certain markets,” said Robin Rossmann, STR’s international managing director. “It is important to note, however, that performance declines are more pronounced in Italy in comparison with other countries due to the significant measures being taken by the government to combat the virus spread. The hope is that these m...
The First Rule of Coronavirus: Don’t Panic
March 10, 2020
March 10, 2020 -- Coronavirus may seem like it’s come out of nowhere, but hospitality revenue optimization professionals have been here before. From Sept. 11 to SARS to one hurricane season after another, they have not just survived plenty of crisis events but thrived in the aftermath. The number-one thing to keep in mind, according to Timothy Wiersma, founder and principal of Revenue Generation LLC and chair of HSMAI’s Revenue Optimization Advisory Board: Don’t panic. Wiersma shared some additional advice for revenue professionals in a recent interview with HSMAI. When it comes to responding to the coronavirus, what should hospit...
New GBTA Research Shows Coronavirus Continues to Impact the Business Travel Industry
Global Business Travel Association | March 10, 2020
Alexandria, VA -- March 10, 2020 -- The coronavirus (COVID-19) continues to impact the global business travel industry, with companies canceling meetings and instituting blanket business travel cancellations, according to the latest research conducted by the Global Business Travel Association (GBTA). GBTA members routinely send their employees to meetings and events throughout the world, with the primary destinations being North America, Europe, China, and the Asian Pacific region. To understand the coronavirus’s effects on business travel, GBTA conducted its third lightning poll of membership on March 4-6, 2020. GBTA received response...
Tourism Tidbits: Tourism Confronts the Coronavirus
Dr. Peter E. Tarlow | March 9, 2020
By Dr. Peter Tarlow This article was first published in eTurbo News. The following is a modified and updated version of that article. Only a few short months ago, the world first heard about a possibly new and deadly virus called the Coronavirus (CoVid-19). In these last few months what at first appeared to be a few isolated cases of an unknown form of influenza in a faraway province of China has now turned into a worldwide pandemic that threatens not only human life and wellbeing but also major portions of the tourism industry and economies around the world. For example during the last week of February world stock markets plun...
Coronavirus Fears Should Be Less Hype and Hospitality Can Help / Frank Wolfe
Frank Wolfe, CAE, FIH | March 9, 2020
March 9, 2020 -- Early this morning I was pulled off the beach (in my dreams) by a series of rapid-fire instant messages and emails. For those who have kids, it was like one of those middle of the night calls when they are staying overnight at a friend’s house. Immediately your adrenaline builds, you get instant sweats and you can feel the beat of your heart reverberating through the entire bed frame. The reason for this interruption was that ONE confirmed case of the coronavirus had been announced in a city where HFTP is participating in several events this month. Only one case of a virus and already we were being asked if we were going...
Hospitality Financial Leadership: What to Do in a Financial Crisis
David Lund | March 9, 2020
By David Lund A lot has been said about the flu outbreak and the devastating effects it will have on the travel and hotel industry. But what can you do about it? The old saying, “You can’t save your way to prosperity,” still holds true, but you can be the best of class when it comes to being the least affected. Occupancy and rates are going to fall, they always do. The question is, where will the market go and how can we keep our REVPAR index? I’ll leave that piece for the revenue and marketing pundits. Here is a list of the top 10 things you can do today to mitigate the financial tsunami that’s coming. I have lived and manage...
COVID-19 Coronavirus as Force Majeure Contract Defense — History and Origins
Jim Butler | March 5, 2020
By Jim Butler and the Global Hospitality Group® Hotel Lawyers | Authors of www.HotelLawBlog.com 5 March 2020 See how JMBM’s Global Hospitality Group® can help you. Click here for the latest articles on the coronavirus and here for the latest on force majeure. In the article below, JMBM partner Mark Adams discusses the coronavirus in relation to force majeure provisions in contracts. This legal concept goes back centuries, but has become increasingly relevant as COVID-19 may be advanced by many in the coming days as a defense to breach of contract. This article is one of a series which will discuss the principles of force majeure ...
AHLA Urges Congress to Pass COVID-19 Supplemental Appropriations Package
AHLA | March 5, 2020
WASHINGTON (March 5, 2020) – The following is a statement from Chip Rogers, AHLA president and CEO, on an emergency supplemental appropriations package to address the threat of COVID-19. “Hoteliers are deeply committed to the health safety of both the millions of people we employ, and the millions of guests who we serve at our hotels each day. The domestic lodging industry supports more than 1 in 25 American jobs, both at our properties and throughout the communities we serve, and we contribute nearly $660 billion to U.S. GDP. Our success would not be possible without a robust travel and tourism sector. To that end, we strongly urge th...
Events Canceled Due to Coronavirus? Here’s How to Replace Lost Business
Daniel Craig | March 4, 2020
By Daniel E. Craig, Founder, Reknown This week, the travel industry is reeling after the cancellation of ITB Berlin and various other events due to COVID-19. Whether this is just a blip on the radar or the start of a prolonged downturn, we don’t have the luxury of waiting to find out. We need to regroup and re-strategize now. For tech vendors and travel suppliers, tradeshows provide a rare opportunity to meet in person with hundreds of clients, prospects and industry partners, launch products, hold demos, give presentations and build relationships. After a successful event, attendees come home with a long list of leads, renewals an...
Travel Trends Index: Int’l Inbound Travel to Plummet 6% Over Next Three Months
U.S. Travel Association | March 4, 2020
March 04, 2020 - WASHINGTON -- The Leading Travel Index (LTI), the predictive component of the U.S. Travel Association's Travel Trends Index (TTI), projects international inbound travel to the U.S. will fall 6.0% over the next three months as the coronavirus outbreak continues to roil the global economy. The latest TTI captures data from January, when awareness of coronavirus began to ramp up and China—one of the biggest travel markets to the U.S.—implemented aggressive measures to curb travel out of certain cities. The predicted 6.0% three-month drop compared to the same period in 2019 is the sharpest in the five-year history of th...
AHLA Joins Business Leaders to Discuss Response to Coronavirus
AHLA | March 4, 2020
WASHINGTON (March 4, 2020) – Chip Rogers, president and CEO of the American Hotel & Lodging Association (AHLA), today joined leaders from the U.S. Chamber of Commerce, U.S. Travel Association, Airlines for America, and the National Retail Federation to discuss the potential impact of COVID-19 and the business community is responding. Rogers underscored the hotel industry’s commitment to the health and safety of our employees and guests, and encouraged travelers to follow CDC guidance on COVID-19 while recognizing that domestic travel is still possible. “I want to reiterate how critically important the health and safety of our ...
Crisis Management – Market Reactions vs Steady Leadership
Thomas Mielke | March 3, 2020
By Thomas Mielke The Financial Times this weekend reported on the trillions of dollars that have been wiped out thus far due to the coronavirus disease 2019 (COVID-19) outbreak. According to the newspaper, stocks in hospitality companies have been particularly hit, having fallen by a reported 19% in Europe compared to last week – one of the strongest declines for the sector since the terror attacks of 9/11. The still-growing number of countries, and companies, enforcing travel bans is exasperating the situation. Reuters reported, for example, global giant Nestle suspending all international business travel. Other companies operating acro...
In the Age of Pandemics: Some of the Reasons That Tourism Industries Fail: Part One of a Two-Part Series
Dr. Peter E. Tarlow | March 3, 2020
Part 2 will appear in April. By Dr. Peter Tarlow Much of the tourism literature is dedicated to tourism successes or how to succeed. When not focusing in on successes, the literature often deals with crisis management, such as the most recent outbreak of CoVid -19 (Coronavirus). Rarely do we examine our self-inflict failures. The fact is that many tourism and travel businesses, however, do not succeed. The reasons for these failures may be of a personal nature, not enough passion or pure laziness, but the great majority of failures can be classified into sociological taxonomies. These categories help us to think abo...
Hotels Scrape Out Profit Growth in January Amid Coronavirus Concern
HotStats | March 3, 2020
U.S. hotels eked out a 0.6% year-over-year increase in GOPPAR in January, but as the full scope of the coronavirus becomes clearer, subsequent months could put pressure on hoteliers to generate both top- and bottom-line growth. Revenue, too, was up in the month, as rooms RevPAR grew 2.7% YOY on the back of an increase in average rate (up 1.1% YOY) and occupancy (up 1.0 percentage points). Positive revenue growth in F&B pushed total revenue to a 3.2% YOY increase, as non-rooms revenue grew 3.9% YOY. Still, hoteliers had trouble with flow-through, evidenced by the smaller increase in profit of only 0.6%. This came as a result of a jum...
