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
U.S. Travel Reacts to Proposed COVID Relief Framework
U.S. Travel Association | December 9, 2020
WASHINGTON (December 9, 2020)—U.S. Travel Association Executive Vice President for Public Affairs and Policy Tori Emerson Barnes issued the following statement on the announced Bipartisan Emergency COVID Relief Act of 2020: “We are very encouraged that the bipartisan deal framework includes a number of provisions that we have long been pushing as critical to rescuing businesses and jobs. “In particular, the second draw on PPP funds and the expansion of eligibility to non-profit organizations that promote travel and tourism will be especially beneficial to America’s hardest-hit industry. “This relief proposal package is wise...
Baird/STR Hotel Stock Index Jumped 31.0% in November
Baird | December 7, 2020
HENDERSONVILLE, Tennessee, and MILWAUKEE—The Baird/STR Hotel Stock Index was up 31.0% in November to a level of 4,354. Year to date through the first 11 months of 2020, the stock index was down 17.4%. “Election clarity and several positive vaccine updates caused a sharp reversal in investor expectations and led to significant outperformance for hotel stocks during November,” said Michael Bellisario, senior hotel research analyst and director at Baird. “The positive vaccine updates allow investors to look to ‘the other side’ and reset their expectations for growth in 2022 and beyond. Worst-case scenarios, especially for the ho...
Mind the ‘COVID’ Gap
Thomas Mielke | December 3, 2020
By: Thomas Mielke, London | James Houran, Ph.D., Dallas There was a collective sigh of relief in early November when Pfizer/BioNTech, Moderna and the Oxford-AstraZeneca team announced in rapid succession their news of vaccines with 90%-plus efficacy rates. However, business leaders in the hospitality industry understand that these positive developments are not a ‘silver bullet’ to solving pressing problems in the here and now. Neither will be the breaking news of the now UK-approved Pfizer/BioNTech vaccine. The World Health Organisation (WHO) estimates that coronavirus vaccines might be deployed, at scale, early to mid-2021. Challen...
72-Hour Quarantine-Free Journeys Will Revive International Business Travel
WTTC | December 2, 2020
02/12/2020 London, UK: International business travel could restart if agreement is secured to safeguard journeys of up to 72-hours free from quarantines, says the World Travel & Tourism Council (WTTC). The joint recommendation for the short stay exemption comes from the European Union Aviation Safety Agency and the European Centre for Disease Prevention and Control (EASA/ECDC) and is welcomed by WTTC, which represents the global Travel & Tourism private sector. EASA and ECDC have joined forces to call for an exemption on quarantine for people travelling for less than 72 hours, a move which WTTC believes could signal the return o...
70% of Destinations Have Lifted Travel Restrictions, but Global Gap Emerging
World Tourism Organization | December 2, 2020
December 2, 2020 -- The number of destinations closed to international tourism has continued to fall. According to the eighth edition of the UNWTO Travel Restrictions Report, 70% of all global destinations have eased restrictions on travel introduced in response to the COVID-19 pandemic. In comparison, just one in four destinations continue to keep their borders completely closed to international tourists. Launched by the World Tourism Organization at the start of the pandemic, the Travel Restrictions Report keeps track of measures being taken in 217 destinations worldwide, helping to support the mitigation and recovery efforts of the tou...
The Outlook for Hospitality, Part 3: Technology Vendors Reveal the Solutions That are Helping the Industry Recover
Fran Worrall | December 2, 2020
By Fran Worrall Last week, in Part 2 of our series on the outlook for hospitality, we asked some of the industry’s leading technology vendors the following question: How has your company pivoted to meet the new demands the industry is facing? Overwhelmingly, the vendor community has risen to meet the challenges surrounding the pandemic, responding in a variety of creative ways—from offering clients free or discounted services to speeding the development of solutions that provide safe alternatives for guests and support long-term recovery. This week, in Part 3 of our series, more than 30 leading hospitality technology vendors reve...
The 2020 Hospitality and Tourism Trends That Will Likely Stay in 2021 and Beyond
Linchi Kwok | December 2, 2020
By Linchi Kwok The COVID-19 pandemic had made an unprecedented impact on the global economy in 2020. The good news is the long-waited COVID-19 vaccines will soon become available. Let’s hope that the coronavirus will disappear soon as we enter the New Year. Looking back before we look forward At year-end 2019, I predicted a few 2020 trends in hospitality, retail, and tourism businesses. For example, I recommended that we should pay special attention to the following areas: A shifting focus on food delivery, sustainable food, and quick-casual restaurants. Using AI and facial recognition in service operations. The threats from...
AHLA Statement on Problem Solvers Caucus Bill
AHLA | December 1, 2020
WASHINGTON (December 1, 2020) – The following is a statement from Chip Rogers, president and CEO of the American Hotel & Lodging Association, on the bipartisan, bicameral COVID-19 relief proposal released today by the Problem Solvers Caucus. “The hotel industry has consistently urged lawmakers to grant relief to those affected by the pandemic since March in order to save millions of jobs and small businesses. We applaud the Problem Solvers Caucus for introducing a bipartisan, bicameral coronavirus stimulus bill. We need Congress to prioritize the industries and employees most affected by the crisis. “Every hour Congress doesn’...
Survey: 9 in 10 U.S. Voters Want Another COVID Relief Bill
U.S. Travel Association | December 1, 2020
WASHINGTON (December 1, 2020)—Eighty-seven percent of respondents to a recent survey—all of whom voted in the November 3 election—believe there should be another round of coronavirus-related relief from Washington, according to results released Tuesday by the U.S. Travel Association. The survey, conducted for U.S. Travel by the research firm Heart + Mind Strategies LLC, was taken from a nationally representative sample of 1,000 voters. It found strong majority support for another relief bill among every voter group, demographic subgroup, and geographic region. U.S. Travel represents the U.S. economic sector—America’s travel a...
FAU Hospitality Summit to Address Coronavirus Concerns for 2021
Florida Atlantic University | December 1, 2020
BOCA RATON, Fla. (Dec. 1, 2020) – The immediate future of the hospitality industry in the wake of the coronavirus pandemic will be the focus of a summit hosted by the Florida Atlantic University College of Business this month. Peter Ricci, Ed.D., director of FAU’s Hospitality and Tourism Management program, will moderate a panel discussion about hosting live meetings and events in 2021. The free webinar can be viewed at any time beginning Tuesday, Dec. 8 at 1 p.m. The hospitality industry is the largest private employer in Florida, with 1.1 million people working in the industry. It was decimated by the pandemic with estimates show...
The Great American Winter Road Trip and Your Hotel
Larry Mogelonsky | November 25, 2020
By Larry Mogelonsky, MBA, P. Eng. (www.hotelmogel.com) Much has been written over the summer of COVID-19 about the resurgence of the Great American Road Trip, as millions were forced to rediscover the hidden gems of their own state or nation, instead of taking an international flight. Now with the virus continuing to plague our news cycle and our ability to open borders, it’s not unreasonable to assume that many travelers will perpetuate the drive-to hotel trend we’ve seen thus far. Many of you may initially scoff at this as the whole idea of the long cross-country drive is traditionally predicated on warm weather to make for a plea...
Survey Reveals Future Travel with Family Is a Priority for Americans
November 23, 2020
WASHINGTON (November 23, 2020)—As we approach the holiday season, American travelers have an abiding desire to travel, even as the country navigates the challenges of the pandemic, and a future trip—particularly domestically and with family members—remains a priority, according to a recent poll by the market research firm Destination Analysts. This finding accords with the Let’s Go There initiative, which has consulted with researchers to identify the demonstrable benefits of looking forward to and planning a future travel experience. “Let’s Go There, Together,” a key message being shared by thousands of organizations...
Business Travelers Itching to Get Back on the Road
The Global Business Travel Association | November 19, 2020
Alexandria, VA (November 19, 2020) – Half (50%) of GBTA travel buyer and procurement professionals feel their employees are ‘willing’ or ‘very willing’ to travel for business in the current environment. Only one in five (22%) GBTA members feel their employees are not willing, demonstrating a strong readiness to resume business travel. Recent announcements of potential, effective vaccines with 90%+ efficacy rate in clinical trials, has increased sentiment among GBTA travel buyer and procurement professionals that their company will be more likely to allow business travel and employees to attend in-person meetings in ...
Knowland: U.S. Meetings and Events Data for October 2020
Knowland | November 19, 2020
Leader in meeting intelligence and analytics releases monthly group hospitality data to inform hotels as they look toward 2021 recovery efforts ARLINGTON, Va. — Nov. 19, 2020— October U.S. monthly meetings and events volume showed growth of 53.6 percent over the previous month, according to the latest data from Knowland, the leader in group hospitality analytics for hotels, convention and visitor bureaus, conference centers and other meeting venues. While meetings are nowhere near the volume of 2019, meeting volume each month continues to improve over the prior month. One thing that remains consistent is the reduced size of meetin...
The Loss of One Youth or Amateur Sports Tournament Costs a City an Average of $360,000 in Hotel Revenue
EventConnect | November 18, 2020
New data from EventConnect reveals the enormous economic impact on cities from the loss of youth or amateur sports tournaments due to COVID-19 LONDON, Ontario--November 18, 2020--Today, EventConnect, the leading provider of event and sports tourism management software, announced findings showing the significant economic impact felt by cities from the loss of youth and amateur sports tournaments a result of the COVID-19 pandemic. The findings from EventConnect’s internal database of over 4,000 events, 400 associations, 15,000 hotels, and 800 cities revealed that the cancellation of just one tournament costs a city an average of $360,000....
Lodging Recovery in Boston & Cambridge Driven by Leisure Demand as Market Faces Increases to Supply
Sebastian J. Colella | November 17, 2020
By Sebastian Colella November 17, 2020 - As the United States faces a growing number of COVID-19 cases, surpassing 10 million in early November, lodging markets across the country continue to face unprecedented declines in demand. Through October, the Boston & Cambridge lodging market has experienced some of the steepest declines in demand and revenue across the country’s top-25 markets according to STR. Now operating in the winter season, historically the slowest demand period for the Boston & Cambridge market, increasing case numbers have resulted in further restrictions to travel, gatherings, and businesses which were eased o...
Latest Projection: Travel Spending in U.S. to Plunge by Nearly Half This Year
November 17, 2020
WASHINGTON (November 17, 2020)—Travel spending in the U.S. is expected to finish the year 45% down from 2019 levels, and will still not have returned to its pre-pandemic strength by 2024, according to the latest figures released by the U.S. Travel Association. The new 2020 projected travel spending figure of $617 billion is slightly worse than U.S. Travel’s previous forecast released in July ($622 billion)—and is a precipitous drop from the $1.13 trillion spent on travel in the U.S. overall in 2019. The nosedive reflects a decline of 34% in domestic leisure travel spending—but even sharper drop-offs in the lucrative domestic bus...
The Outlook for Hospitality, Part 2: How Vendors Are Pivoting to Meet New Industry Demands
Fran Worrall | November 16, 2020
By Fran Worrall In the fall issue of Hospitality Upgrade, we began our four-part series on the outlook for the hospitality industry by asking vendors the following question: What are your thoughts on the future of hotels and the industry in general? Overwhelmingly, respondents were optimistic. Despite the seriousness of the pandemic and its devastating impact on hotels around the globe, most vendors agreed that the industry is resilient and will recover. Some said it would come back even stronger than before. Not surprisingly, most believe that technology will play a key role in the process. In Part 2 of our series, we asked the foll...
Fewer Americans Traveling This Thanksgiving Amid Pandemic
AAA | November 12, 2020
ORLANDO, Fla. (November 12, 2020) – Thanksgiving will be on the lighter side when it comes to the typical number of travelers on the roads and at airports. According to AAA Travel, effects of the COVID-19 pandemic, including health concerns and high unemployment, are impacting Americans’ decisions to travel for the Thanksgiving holiday. With health and government officials stressing that staying home is the best way to protect yourself and others from getting sick, AAA anticipates at least a 10% drop in travel – the largest one-year decrease since the Great Recession in 2008. Based on mid-October forecast models, AAA would have e...
COVID-19’s Impact on Values
Rod Clough | November 11, 2020
By Rodney G. Clough, Ryan Mark, Chris Cabrera The hotel sector is most certainly managing its way through the trough of the current downcycle, and a tough winter lies ahead for the U.S. lodging industry, although brighter skies should emerge next year. We took this opportunity to review our valuation findings and compare these to valuations of the same hotels we completed in the years and months leading up to the spring 2020 decline. We have appraised over 1,000 hotels since the start of the pandemic (most from mid-summer to today). Of these, 140 were also appraised by our firm in the 2017–2019 peak-value timeframe. The percentage change...
Five-Star Park City Hotel Finds Success With Digital Marketing During COVID-19 Shutdown
GCommerce | November 5, 2020
Park City, UT, November 5, 2020- Five-Star Park City hotel, Stein Eriksen Lodge, partnered with GCommerce to run digital marketing efforts during COVID-19 to maintain brand awareness in key markets in order to secure market share upon reopenings. Being aware that the Stein Eriksen Lodge name and brand would still have interest for online searchers even during their pandemic closure, GCommerce kept the “lights on” with paid search brand and name terms to ensure searchers would find Stein Eriksen Lodge’s website when thinking of future stays and vacations throughout the Spring of 2020. “Nobody knew what to expect when the COVID-19...
Tourism Tidbits: Thinking About Our Security Needs Once We Have Gone Beyond Covid-19
Peter Tarlow | November 2, 2020
By Dr. Peter Tarlow In today’s very politically and economically unstable world the tourism and hospitality industries have no choice but to be sensitive to the needs of security and safety (S&S), and to emphasize public health requirements. Despite this needed emphasis on Covid-19 and the universal pandemic, other classical issues of tourism security and safety still exist and should not be ignored. Security and safety professionals continuously reexamine these issues and are constantly seeking new ways to assure that the public is safe during its travel experience. Each security incident makes the travel industry’s many com...
The Outlook for Hospitality: Silver Linings in the Midst of Crisis
Fran Worrall | November 2, 2020
Vendors Address The Future of The Industry, Part 1 By Fran Worrall During the past seven months, the hospitality industry has faced the worst crisis in recent history. As COVID-19 has spread around the globe, hotels have been forced to lay off employees, curtail services and in some cases close. At some point, however, the world will regain its equilibrium. Consumers will be eager to travel again. And businesses will want to hold group meetings and conferences. What will the hotel landscape look like? Can anything positive come out of this crisis? We talked with a number of vendors for this multi-part series on the outlook for ho...
STR: Canada Hotel Results for Week Ending 24 October
STR | October 30, 2020
HENDERSONVILLE, Tennessee—STR data for 18-24 October 2020 showed slightly higher occupancy, but lower rates from prior weeks for Canada’s hotel industry. 18-24 October 2020 (percentage change from comparable week in 2019): Occupancy: 31.1% (-55.6%) Average daily rate (ADR): CAD112.33 (-28.7%) Revenue per available room (RevPAR): CAD34.89 (-68.4%) Occupancy for previous weeks came in at 29.9% (17 October), 32.2% (10 October), and 34.0% (3 October), respectively. For the week ending with 24 October, British Columbia recorded the highest occupancy level (40.2%) among the provinces. Vancouver (35.7%) was the only ...
