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
STR: U.S. Hotel Results for Week Ending 14 March
STR | March 19, 2020
Showing further COVID-19 impact, the U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 8-14 March 2020, according to data from STR. In comparison with the week of 10-16 March 2019, the industry recorded the following: Occupancy: -24.4% to 53.0% Average daily rate (ADR): -10.7% to US$120.30 Revenue per available room (RevPAR): -32.5% to US$63.74 Performance declines were uniform across chain scales, classes and location types. “To no surprise, the hurt continued and intensified for hotels around the country,” said Jan Freitag, STR’s senior VP of lodgin...
STR: U.S. Hotel Performance for February 2020
STR | March 19, 2020
HENDERSONVILLE, Tennessee—In its final month before feeling the impact of the COVID-19 pandemic, the U.S. hotel industry reported positive results in the three key performance metrics during February 2020, according to data from STR. In a year-over-year comparison with February 2019, the industry posted the following: Occupancy: +0.2% to 62.2% Average daily rate (ADR): +1.4% to US$130.78 Revenue per available room (RevPAR): +1.7% to US$81.33 Significant COVID-19 effects were visible through the first two weeks of March, as outlined in weekly press releases for 1-7 March and 8-14 March. STR continues to monitor the...
HVS Market Pulse: Phuket, Thailand
Apichaya Wongsuwan | March 19, 2020
The following article gives a brief overview of Phuket, its tourism industry, and the recent dynamics of the local lodging market. By Apichaya Wongsuwan, Ruj Masan, Pawinee Chaisiriroj Following the market’s prosperity in the past few years, hotels across all segment have started to witness hindering economic growth, resulting in a softer performance in 2019. The unexpected outbreak of COVIC-19 has swept away the majority of the demand in the market. As the number of travel advisory continues to heighten, concerns over air traffic and tourism spending are increasing among the public as people are reluctant to travel. The following ar...
hotelAVE Projects a Five-Year Recovery Period for Hotel Industry Post Coronavirus
hotelAVE | March 19, 2020
Business Recovery Duration Similar to that Following September 11th & The 2008 Financial Crisis PROVIDENCE, R.I., March 19, 2020 -- Hotel Asset Value Enhancement (hotelAVE), the premier hotel asset management company, in a study released today, estimated that it will take the hotel industry in the United States approximately five years to achieve pre COVID-19 occupancies, revenues and profitability. In addition, the hotelAVE COVID-19 Hotel Outlook predicts that the pace of the five-year recovery from the pandemic will be extended after an immediate mini-spike beginning in May or June, as the impact on the travel and hotel industry i...
Ocean House Management Collection Food Truck to Deliver and Distribute Complimentary Lunch to Children in Need Affected by COVID-19
Ocean House Management | March 19, 2020
WESTERLY, R.I., March 19, 2020 - Due to temporary school closures resulting from COVID-19, Ocean House Management (OHM) Collection, operators of Ocean House, Weekapaug Inn, Watch Hill Inn and the Inn at Hastings Park and the Ocean House Fund for Charitable Giving, have announced that the Food Truck, Off the Menu, will deliver and distribute complimentary lunches to local children 16 and under. The Food Truck will be centrally located at the Ice Rink at 61 Main Street in Westerly. This community service will begin this Friday March 20 and available Monday, Wednesday and Friday from 11:30 am – 1:30 pm at least through April 1. People...
COVID-19 Financing Strategic Options for Hotel Owners
Harry G. Spirides | March 19, 2020
By Harry G. Spirides, President & CEO of Spirides Hospitality Finance Company Along with all the other industries around the world the U.S. hotel industry has been blindsided by the COVID-19 Global Pandemic Black Swan Event. Instantly, hotel owners have found themselves with empty hotels, depleted cash reserves, and wondering how they will be able to make their monthly mortgage payments and payroll which were hardly ever considered to be a problem in the expansionary period leading up to COVID-19. Due to the recent unprecedented sharp interest rate cuts by the Federal Reserve, the Prime Rate is now set at 3.25% which sets the table fo...
HSMAI ROC Americas in San Antonio Announces New 2020 Dates
HSMAI | March 19, 2020
(McLean, VA, March 19, 2020) Due to worldwide uncertainty surrounding the impact of the COVID-19 pandemic, HSMAI ROC Americas 2020 has been rescheduled for October 26-27 in San Antonio. The main ROC program will be Monday, October 26, at the Grand Hyatt San Antonio. Tuesday, October 27, will feature the HSMAI Chief Revenue Officer Executive Roundtable programs, CRME and CHDM review courses, and Partner Insights sessions. “HSMAI’s ROC has become the essential place corporate revenue leaders from over 120 unique hotel brands, management companies, and ownership groups convene to discuss emerging trends and issues that directly impact t...
Top Hotel CEOs Meet With President Trump, Vice President Pence on Urgent Assistance to Keep Hotels From Shuttering; Protect Millions of Employees From
AHLA | March 18, 2020
WASHINGTON, D.C. (March 18, 2020) – Leading hotel CEOs met today with the White House to discuss urgent economic recovery solutions needed to protect millions of U.S. hotel employees and 33,000 small businesses as travel grinds to a virtual halt across the country. From Main Street to major cities across the country, hotels everywhere are on the verge of shutting their doors in the coming days – many by the end of this week. With 1 in 25 jobs supported by the hotel industry, the rapid pace of booking cancellations is having an immediate, negative ripple effect that risks seeing mom and pop hotel owners shutter, furlough their employees...
Report: Coronavirus Having Catastrophic Impact on Travel Businesses and Workers
U.S. Travel Association | March 18, 2020
Washington (March 17, 2020)—A new analysis released Tuesday by the U.S. Travel Association projects that decreased travel due to coronavirus will inflict an $809 billion total hit on the U.S. economy and eliminate 4.6 million travel-related American jobs this year. The dire impact numbers, prepared for the U.S. Travel Association by Tourism Economics, were presented by U.S. Travel Association President and CEO Roger Dow at a Tuesday White House meeting with President Trump, Vice President Pence, Commerce Secretary Wilbur Ross and other travel leaders. "The health crisis has rightly occupied the public's and government's attention, but...
UNWTO Secretary General Issues COVID-19 Statement
The World Tourism Organization (UNWTO) | March 17, 2020
Zurab Pololikashvili Secretary-General, World Tourism Organization As the COVID-19 situation evolves, the World Tourism Organization (UNWTO) observes that full or partial travel restrictions have been – and continue to be – introduced across the world. These decisions are made with public health as the primary concern. This pandemic affects every level of society and we stand by those affected in these times. The impact of the pandemic on already slowing economies has made tourism particularly vulnerable, becoming the hardest hit sector so far. With 80% of the sector made up of small and medium-sized enterprises, millions of liveli...
European Tourism Sector Demands Urgent Supportive Measures to Reduce Devastating Impact of COVID-19
European Travel Commission | March 17, 2020
The European Tourism Manifesto alliance, the voice of the European travel and tourism sector, has issued the following statement on the implementation of urgent measures to limit the COVID-19 outbreak’s impact on the sector. The effects of the outbreak are already being felt throughout the global economy. Economic activity has dropped, and all evidence points towards a significant downturn in areas affected by the virus. The tourism and travel sector is particularly hit. Millions of jobs are currently at stake, while many small and medium enterprises (SMEs) risk closing their business. Support for tourism must ...
How Hoteliers Can Get Over the Coronavirus
HotStats | March 17, 2020
COVID-19 is putting an end to 11 years of unprecedented growth in the hotel industry. There is no sugarcoating it: the coronavirus has induced panic across the globe, throwing markets into chaos, postponing conferences, stamping out travel and emptying drugstore shelves. It’s still early, but the impact has been swift and pernicious for the hospitality industry as travel has come to a standstill, drying up occupancy and throwing a wicked curveball to revenue and accentuating expenses, which in turn will cast a pall over hotel bottom lines. The virus is here, and it’s doing what viruses do: invading and infecting. The hotel industry ...
Will the Coronavirus Crisis Force Hoteliers to Implement New Technologies Faster?
Moritz Klussmann | March 17, 2020
By Moritz Klussmann Covid-19 is not only turning our private lives upside down these weeks and months. The spread of the virus also has a massive impact on many industries worldwide. Cancelled rooms and flights and thus absent guests are hitting the hotel and tourism industry very hard. In the current situation, hoteliers must therefore not only be creative when it comes to their pricing and cancellation conditions. They must also develop a long-term strategy to rehabilitate themselves in the market and make up for losses once the crisis is over. New technologies and especially their rapid implementation will - and must - play a key role f...
Industry CEOs to Host Press Conference Call Following Meeting With VP Pence & White House COVID-19 Taskforce
March 17, 2020
WASHINGTON, D.C. – On Tuesday March 17, at 3:45 PM ET the American Hotel and Lodging Association’s (AHLA) President and CEO, Chip Rogers along with U.S. Travel Association’s (USTA) President and CEO, Roger Dow will join leading hotel industry CEOs to host a press conference call following a meeting with Vice President Pence and White House officials where they will discuss the industry’s response to the novel coronavirus (COVID-19) and the catastrophic economic impact on the hotel industry, its employees and U.S. economy. As it continues to be unknown how long this public health situation will last, the coronavirus has already ha...
The Guestbook and Fuel Partner to Release White Paper, “Navigating Troubled Times,” to Help Hoteliers Manage Economic Uncertainty
The Guestbook | March 16, 2020
Cash back rewards innovator The Guestbook and hospitality digital solutions provider Fuel provide insight and tips for hoteliers who must balance short-term impacts and long-term prosperity. Las Vegas and Myrtle Beach, SC — March 16, 2019 — The Guestbook, the world's largest rewards program for independent and boutique hotels, and Fuel, the premier software provider and digital agency for the hotel industry, have partnered to release a new white paper addressing the economic challenges facing hoteliers in the coming months and how to weather them. Titled “Navigating Troubled Times,” the informational white paper explores key strate...
STR: London Hotel Performance Drops Amid Growing COVID-19 Concerns
STR | March 16, 2020
16 March 2020 - LONDON— STR’s preliminary data for hotels in London shows slightly negative performance in February 2020 that worsened into double-digit declines during the first week of March. February preliminary data (compared with February 2019): Occupancy: -2.3% to 76.3% Average daily rate (ADR): +0.3% to GBP133.57 Revenue per available room (RevPAR): -2.1% to GBP101.91 1-8 March preliminary data (compared with corresponding week in 2019): Occupancy: -21.0% to 65.5% ADR: -8.5% to GPB128.39 RevPAR: -27.7% to GPB84.14 As concerns have grown around the COVID-19 outbreak, STR analysts note that London daily...
U.S. Travel Reacts to Expansion of Travel Restrictions to UK and Ireland
U.S. Travel Association | March 16, 2020
Washington (March 16, 2020)—U.S. Travel Association President and CEO Roger Dow issued the following statement: "The public's health and safety is priority No. 1, and we hope the aggressive steps taken by the federal government succeed in putting the moment of greatest concern behind us. Hearing of the need to further expand travel restrictions—especially the inclusion of our No. 1 overseas source market, the UK—is obviously not the development the U.S. travel industry was hoping for. Aggressive steps will also be needed to address the health of the U.S. economy, the small businesses that make up 83% of all U.S. travel employers, and...
Meetings Mean Business Reacts to New Federal Guidance on Large Events And Mass Gatherings
Meetings Mean Business | March 16, 2020
WASHINGTON – The Meetings Mean Business Coalition has issued the following statement: “In these unprecedented times – and to prevent the further spread of COVID-19 – the Centers for Disease Control and Prevention (CDC) recommends that ‘for the next 8 weeks, organizers cancel or postpone in-person events that consist of 50 people or more throughout the U.S.’ As industry leaders who are driven by a responsibility to our clients, customers and employees, this is certainly not a directive we were hoping to see. However, it is one we intend to follow. We applaud the industry professionals who are managing as best they can thro...
COVID-19 Pushes Hospitality Industry to the Edge: Key Considerations for Stakeholders
Todd Soloway | March 13, 2020
By Todd Soloway As reports of confirmed Coronavirus cases increase, travel bans and mass quarantines go into effect, and citizens across the globe avoid all nonessential travel, the hotel industry is being hard hit. Without exaggeration, owners, managers, and brands that were already struggling, and even those that were not, may face existential decisions. To aid in addressing the myriad of issues, we have compiled a series of key points that any stakeholder should consider in navigating and evaluating the difficult decisions that lie ahead. Cost Cutting: Can Vendor Contracts Be Modified, Suspended or Terminated? Hotels are being i...
HSMAI SPECIAL REPORT: Crisis Communications for Hospitality Marketing Professionals
HSMAI | March 13, 2020
In a crisis situation, business leaders don’t just need information. They need inspiration. They need success stories. That’s what this HSMAI Special Report — presented with the support of HSMAI’s Organizational Member companies — provides. While the coronavirus is still very much a developing situation, hospitality marketing professionals should be focusing on how they are positioning their properties, companies, and brands — not just right now, in the midst of the crisis, but in the aftermath. To offer some ideas, we’ve turned to winners in the Crisis Communication/Recovery Communications category for Public Relations in HS...
Marketing in the Age of Coronavirus
HSMAI | March 13, 2020
Marketing never stops. Even when a crisis event like coronavirus seems to be consuming everyone’s attention, you still have to get your message out — but do so in a sensitive, thoughtful way. How? Brian Hall, chief marketing officer of Explore St. Louis and a member of the HSMAI Americas Board of Directors, recently offered some insights. What are the immediate priorities for hospitality marketing professionals in this climate? The most immediate priority for hospitality marketers in times of uncertainly is to communicate facts and do so routinely and liberally. As concerns have heightened over the past week, many organizations are ...
Coronavirus Puts up to 50 Million Travel and Tourism Jobs at Risk Says WTTC
WTTC | March 13, 2020
London, UK, 13 March 2020: The World Travel & Tourism Council says up to 50 million jobs in the Travel & Tourism sector are at risk due to the global COVID-19 pandemic. Gloria Guevara, WTTC President & CEO, said: “WTTC figures show the stark impact on the Travel & Tourism sector of the present COVID-19 outbreak with analysis now suggesting that up to 50 million jobs are at risk in the sector globally”. “When the time is right, WTTC and the global private sector will be ready to help and support the government and countries to recover” Latest figures from WTTC, which represents the global Travel & Tourism p...
Fitch Revises North American CMBS Hotel Outlook to Negative; Coronavirus Adds to Expected Decline
Fitch Ratings | March 13, 2020
Fitch Ratings has revised its North American CMBS hotel asset performance outlook to negative from stable/negative. The negative outlook revision for the sector is due to several factors including new supply and weakening economic conditions. Fitch expects RevPAR growth to flatten out in 2020 and then decrease by a low single digit percent in 2021. The impact from the coronavirus will exacerbate hotel cash flow declines and rising expenses from wages and real estate taxes may exceed revenue growth. Hotels will be the first property type to be affected by the coronavirus due to reduced tourism and travel, and a slowdown in economic activ...
COVID-19 | A Hotel Marketing Guide
GCommerce Solutions | March 13, 2020
Lindley Cotton | GCommerce Solutions | President Starting today, March 13th, GCommerce is instituting a mandatory work-from-home policy for at least the next week. Since the situation is fluid, we will be re-assessing the need for employees to stay home on a weekly basis. I think we are all blown away by how fast this has escalated. Whether you believe that COVID-19 is dangerous or not, it has forced all of us to think about our social responsibility. I read a fantastic article yesterday morning that talked about social responsibility and how every day matters in implementing social distancing. GCommerce is fortunate to provide hotel ma...
