Four Trends for Beyond Revenge Travel 2.0
Larry and Adam Mogelonsky | March 2nd, 2022
Although Pre-Pandemic Profitability Will Remain Elusive, the Industry Will Make Strides Toward Recovery in 2022
Fran Worrall | January 5th, 2022
Guest Perspectives Post COVID-19: What Hotel Guests Want From a ‘New Normal’
Terri Miller | May 14, 2020
By Terri Miller As human beings we know change is inevitable. They say life is 10% of what happens to us and 90% is how we respond to it. There’s no question the hospitality industry will rebound from this challenging period. And when we do, it would be naive to think everyone will resume life as we knew it. We need to first acknowledge guests will adjust the way they travel and interact with hotels. But we have to go further than just acknowledgement. We must understand, adapt, and respond before the first guests ever (re)crosses our threshold. We need to actively re-instill trust before a guest even considers travel. Technology and ...
ProfitSword Publishes Best Practice Guide on How Hoteliers Can Overcome Market Uncertainty and Safeguard Revenue
ProfitSword | May 14, 2020
In-depth report details how latest business intelligence practices can preserve hotel financial stability and ability to implement successful strategies despite economic challenges. ORLANDO, Fla. – (May 14, 2020) – ProfitSword, hospitality’s premier developer of business intelligence and data integration software, has published a detailed guide demonstrating how hoteliers can leverage the latest business intelligence strategies and their organization’s performance data to safeguard hotel operations and revenue during times of economic hardship. Entitled, “Staying One Step Ahead of Economic Uncertainty With an Effective Business ...
Hotels at Secondary and Tertiary Airports Will Suffer Longer
Jenny Lee | May 13, 2020
By Jenny Lee The coronavirus pandemic’s impact on travel is thought to be six or seven times greater than the 9/11 attacks, according to the U.S. Travel Association. Air travel volume fell precipitously through March. The estimated revenue losses by air carriers in 2020 is at least $252 billion. In late March, domestic carriers received a $60 billion bail-out, with some strings attached. The Department of Transportation issued an order that carriers receiving financial assistance under the Coronavirus Aid, Recovery, and Economic Security Act (the CARES Act) are required to maintain minimum air service to all destinations served as o...
Research Shows Strength of Tourism Sector’s Support for Workers and Communities
The World Tourism Organization (UNWTO) | May 13, 2020
As the sector faces up to an unprecedented challenge, the World Committee on Tourism Ethics (a subsidiary of the World Tourism Organization) has analysed the steps being taken by businesses and trade associations to mitigate the impact of the pandemic. Studying the actions taken by Private Sector Commitment to the Global Code of Ethics for Tourism (GCET) in 25 countries, the research revealed that, in spite of staff furloughs, employers across the sector are stepping up their support for workers and for communities. Tourism ‘going beyond its responsibilities’ Committee Chairman Pascal Lamy touched base with the GCET Signatories to learn...
We’ll Be Stronger When This Is Over
Shep Hyken | May 13, 2020
By Shep Hyken I see light at the end of the tunnel. While we’re not back to “business as usual,” we are starting to see business reopen and adapt to a new normal. I’ve made many observations over the past couple of months, some of which have found their way into my weekly posts. Here’s another one: With the right attitude, we’ll be stronger when this is over. As I’ve mentioned numerous times in the past, I’m an optimistic, glass-half-full, batteries-included kind of guy. I was reflecting on how my thoughts differ from friends, colleagues, my siblings and even my kids. Was I born this way? Maybe, but I can think b...
Covid-19 Crisis Forces Hoteliers to Review Their Human Resources Strategies
Alex Sogno | May 13, 2020
By Alex Sogno Does the leisure and tourism workforce need to be rescued? Considering the industry contributes 10.4% of global GDP, supporting one in ten jobs on the planet [i], we can affirm that the tourism industry is one of the principal job providers. Furthermore, business recovery is expected to be slow: the UNWTO has estimated a 20%-30% global decline in international tourist arrivals [ii]. Major hotel chains are reducing their workforce. The business is performing 50% below normal levels in the European market and Asia Pacific, excluding China [iii] ; Marriott’s CEO Arne Sorenson said that the hotel business was running almos...
Will COVID-19 Impact Hotel Business Insurance Claims?
Don Scaramastra | May 13, 2020
By Don Scaramastra As COVID-19 ravages our country and the world, perhaps no sector in the United States has suffered more than the hospitality industry. Government orders have effectively closed hotels and resulted in the widespread cancelation of meetings and events for the foreseeable future. While there is talk of “opening up” the economy, and while some states are taking measures to begin doing so, it’s unclear whether the public at large is ready to travel or meet in large groups anytime soon. For some hotels, help may be on the way in the form of business interruption insurance. This insurance is typically included in a p...
Sojern Launches New Interactive COVID-19 Travel Insights Dashboard
Sojern | May 13, 2020
Real-time travel data provides travel marketers the tools needed to monitor travel demand and plan for recovery SAN FRANCISCO – May 13, 2020 – Sojern, a leading provider of digital travel marketing solutions, today launched a new interactive dashboard providing real-time COVID-19 travel insights. These insights will empower Sojern’s customers, partners and industry leaders to forecast travel demand and make informed decisions about market recovery. Sojern will be providing free and unlimited access to the public via the Sojern website, a service the firm has only ever provided to customers and partners. The dashboard, updated dail...
Will They Hit the Road on Day One?
Mower | May 13, 2020
NEW YORK – May 13, 2020 – More than one in four U.S. adults say travel is among the activities they are excited to return to when experts sound the all clear on COVID-19 restrictions. But will they be ready to go on Day One? A survey by independent marketing, advertising and public relations agency Mower reveals that 60 days will pass before a majority of Americans will feel comfortable returning to most travel-related activities. Americans will be more inclined to take the wheel than take to the skies It will be Day 30 before half of Americans anticipate feeling comfortable taking a vacation by car and Day 60 before half will fly...
Hotels Count the Cost of COVID-19 Pandemic and Look to Remodel Business to Rebuild Consumer Confidence
HVS | May 12, 2020
By Russell Kett 12 May 2020, London: With much of Europe’s hotel sector still closed for business the industry faces a huge challenge to rebuild consumer confidence once Covid-19 lockdown restrictions start to lift later this year, says global hotel consultancy HVS London. Providing hotel businesses survive financially - utilizing a combination of rent and bank loan freezes, Government support, working with owners and furloughing staff - they also face the question of how long it will take for consumers to once again feel confident staying in hotels.< “When demand for hotels does start to return, whether that’s later this ye...
WTTC Unveils “Safe Travels” – New Global Protocols to Restart the Travel & Tourism Sector
May 12, 2020
London, UK: The World Travel & Tourism Council (WTTC) which represents the global Travel & Tourism private sector has unveiled a range of new worldwide measures to restart the sector. The measures have been designed to rebuild confidence among consumers so they can travel safely once the restrictions are lifted. The new Safe Travels protocols provide consistency to destinations and countries as well as guidance to travel providers, operators, and travellers, about the new approach to health and hygiene in the post COVID-19 world. The health and safety of travellers and workers is put at the heart of the new global protocols, ...
Forging the Future, BENCHMARK Takes the Risk Out of Meeting Planning; Launches the Meeting Accelerator Program
BENCHMARK®, a global hospitality company | May 12, 2020
The Woodlands (Houston), Texas, May 12, 2020 - BENCHMARK®, a global hospitality company, has officially launched its strategic recovery initiative that will support meeting planners and partners while forging new solutions for the industry’s future in a post COVID-19 world. In effect through March 2021, the far-reaching plan significantly mitigates the risk and uncertainty of committing to new meetings and events. To provide reassurance to corporate planners, the plan includes flexible short-term bookings, relaxed attrition and cancellation fees, and 100% credit given on re-bookings. Meeting spaces at Benchmark properties will be restru...
Best Practices for Reassuring Your Customers and Employees During the Closure of Your F&B Outlets
Alex Sogno | May 12, 2020
By Alex Sogno During this disruptive time, most hoteliers and F&B managers agree on one thing: A not-so “business-as-usual” future will follow the current changes. We know that as the hospitality industry begins recovering from COVID-19, there will be many new challenges ahead. But what can be done with F&B outlets now, to come out of this crisis stronger and better prepared for these future changes? Together with industry experts, we compiled best practices for providing reassurance to customers and employees during the closure of your F&B outlets. Furthermore, we offer you some suggestions on how to build up relationships...
Statement on Corporate Layoffs at Hyatt
Hyatt Hotels Corporation | May 12, 2020
Due to the historic drop in travel demand and the expected slow pace of recovery, Hyatt has made the extremely difficult decision to implement layoffs and restructure roles across its global corporate functions, beginning June 1, 2020. These actions will impact around 1,300 colleagues around the world. Since the start of the COVID-19 pandemic, Hyatt has taken numerous actions in an effort to meet the challenges our industry is facing including reductions of company-wide expenditures, extended salary reductions for the Senior Leadership Team and Board of Directors, and temporary work and/or pay reductions for all corporate colleagues. Unfor...
Hilton Volunteers Join Forces With Springboard to Keep Hospitality Dream Alive
Springboard | May 12, 2020
LONDON - Hilton has teamed up with charity partner Springboard to encourage Team Members to volunteer for the charity, as it faces the challenges of delivering crucial services during the Covid-19 pandemic. The Covid-19 crisis has had a profound impact on Springboard, which delivers training and support to disadvantaged and young people looking to start a career in hospitality. With social distancing and funding cuts hampering its operation whilst demand for its services grows, the charity has reacted quickly by introducing virtual training and mentoring. It is now seeking volunteers to support its members, many of whom have found themselv...
Next Beekeeper COVID-19 Webinar to Discuss ‘Weathering the Storm and Preparing for Recovery’
Beekeeper | May 12, 2020
Leading hospitality experts from IHG, Fitler Club, and HDG Hotels join Beekeeper to discuss actionable ways to prepare for the ‘next normal’ and how to be successful in the new world San Francisco, May 12, 2020 — What will it take to be successful in the new world? As part of its ongoing COVID-19 Webinar Series, Beekeeper will host industry experts from IHG, Fitler Club, and HDG Hotels to discuss weathering the COVID-19 storm and planning for recovery. The online event will be held Tuesday, May 19 at 11:00 a.m. EST / 5:00 p.m. CET. James Lemon, founder and CEO at The Growth Works and Strategy & Innovation Lead, Commercial &...
Marriott Results Illustrate Competence, Says GlobalData
GlobalData | May 12, 2020
Following the recent announcement of Marriott’s Q1 results; Ralph Hollister, Analyst, Travel & Tourism at GlobalData, a leading data and analytics company, offers his view on the situation: “Marriott significantly missed already lowered estimates for first-quarter profit. Alike its competitors, bookings plunged in the later stages of Q1 as restrictions on movement became more draconian around the globe. Factors that contributed to the loss that were specific to Marriott included guaranteed reserves of $148m, as well as impairment charges and bad-debt expenses. “Although adjusted earnings of $0.26 per share severely lagged e...
Crisis Management for the Pandemic and Beyond
Anne Sweeney | May 11, 2020
By Anne Sweeney Anne Sweeney gained experience in crisis management through her work in corporate communications at Pan American World Airways. I saved the world today. Everybody’s happy now, the bad thing’s gone away. — The Eurythmics It’s called crisis management and damage control — not make the bad thing go away. From major corporations with high-powered communications staffs to the boutique or restaurant on the corner, businesses are struggling to deal with the cataclysmic effects of COVID-19. This global disaster, made profoundly more dangerous by a lack of preparedness, misinformation, coverups, lies and politicizat...
Canada’s Hotel Construction Pipeline Remains Strong With Double Digit Increases Year-Over-Year*
Lodging Econometrics | May 11, 2020
May 11, 2020 – PORTSMOUTH, NH - Analysts at Lodging Econometrics (LE) report that at the close of the first quarter of 2020, the total construction pipeline in Canada remains strong with 304 projects and an all-time high of 40,291 rooms. The construction pipeline is up an impressive 15% by projects and 22% by rooms, year-over-year (YOY). A driving force of the pipeline’s double-digit growth is the surge in projects in the early planning stage at an all-time high of 103 projects/15,964 rooms, up 29% and 41% YOY, respectively. Projects under construction, also at record highs, are at 101 projects/12,563 rooms, up 9% by projects and 20% ...
Marriott International Reports First Quarter 2020 Results
Marriott International, Inc. | May 11, 2020
First quarter 2020 comparable systemwide constant dollar RevPAR declined 22.5 percent worldwide, 30.4 percent outside North America and 19.5 percent in North America; First quarter reported diluted EPS totaled $0.09, compared to $1.09 in the year-ago quarter. First quarter adjusted diluted EPS totaled $0.26, compared to first quarter 2019 adjusted diluted EPS of $1.41. First quarter 2020 reported and adjusted EPS included impairment charges, bad debt expense, and guarantee reserves of $0.45 and $0.42, respectively; First quarter reported net income totaled $31 million, compared to $375 million in the year-ago quarter. First quarter ...
World Tourism Remains at a Standstill as 100% of Countries Impose Restrictions on Travel
The World Tourism Organization (UNWTO) | May 11, 2020
From the start of the crisis, the United Nations specialized agency for tourism has been tracking responses to the pandemic. This latest research shows that while discussions on possible first measures for lifting restrictions are underway, 100% of destinations worldwide still have COVID-19 related travel restrictions for international tourists in place. Out of all 217 destinations worldwide, 156 (72%) have placed a complete stop on international tourism according to the data collected as of 27 April 2020. In 25% of destinations, restrictions have been in place for at least three months, while in 40% of destinations, restrictions were intr...
Shifting the Hospitality Service Paradigm in Difficult Times
Meng-Mei Maggie Chen | May 11, 2020
By Meng-Mei Maggie Chen A few years ago, Marriott had a commercial link with a storyline about an elderly lady who stayed in a Marriott hotel because she just lost her house during a mountain fire and needed time to reflect and think about her future. In the video, this lady described the friendship and support she received from the hotel employees. I used this video several times in my marketing courses because of how it appeals to a higher level of human needs (Maslow). How does it work? Instead of emphasizing product features or benefits, this video attempts to show an example that Marriott contributes to their host communities by...
Hersha Hospitality Trust Announces First Quarter 2020 Results
Hersha Hospitality Trust | May 7, 2020
- Implements Aggressive Cost Containment Strategies - - Amends Bank Credit Facility to Access Additional $100 Million - - Obtains Full Financial Covenant Waiver through March 31, 2021 - PHILADELPHIA, May 07, 2020 -- Hersha Hospitality Trust (NYSE: HT) (“Hersha,” “Company,” “we” or “our”), owner of high-quality upscale and lifestyle hotels in urban gateway markets and resort destinations, today announced results for the first quarter ended March 31, 2020. First Quarter 2020 Financial Results Net loss applicable to common shareholders was approximately ($29.1 million), or ($0.76) per diluted common share, in the first quart...
Ryman Hospitality Properties, Inc. Reports First Quarter 2020 Results
Ryman Hospitality Properties, Inc. | May 7, 2020
NASHVILLE, Tenn., May 07, 2020 -- Ryman Hospitality Properties, Inc. (NYSE: RHP), a lodging real estate investment trust (“REIT”) specializing in group-oriented, destination hotel assets in urban and resort markets, today reported financial results for the first quarter ended March 31, 2020. First Quarter 2020 Results (as compared to First Quarter 2019): Hospitality RevPAR decreased 20.6% and Hospitality Total RevPAR decreased 16.3% Consolidated Net Income Available to Common Shareholders declined 258.2% to a loss of $46.5 million including approximately $33 million in non-cash charges Consolidated Adjusted EBITDAre de...
